Is Palmer Square, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Palmer Square has remained a Seller's Market.
Housing Prices in Palmer Square, IL
How much do homes in Palmer Square, IL cost?
Median Sold Price
$630,000
$343/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Palmer Square was $630,000 in April 2024, up 7.7% from last year, and the median price per square foot was $343.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $195K | $276.2K | +41.7% |
2 Bedrooms | $400K | $440K | +10.0% |
3 Bedrooms | $632.5K | $697K | +10.2% |
4 Bedrooms | $932.5K | $837.4K | -10.2% |
5+ Bedrooms | $811K | $982.7K | +21.2% |
Summary: Palmer Square housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 41.7%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 10.2%, 4 bedroom homes decreased by 10.2%, and 5+ bedroom homes increased by 21.2%.
Median Sold Price Compared To Nearby Neighborhoods
Logan Square | $525.4K | $582K | +10.8% |
Palmer Square | $585K | $630K | +7.7% |
North Side | $546.3K | $580.5K | +6.3% |
Housing Supply in Palmer Square, IL
How many homes are available in Palmer Square, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
32 | 42 | +31.3% |
Summary: The Palmer Square real estate market had 42 homes for sale in April 2024, a 31.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 3 | +50.0% |
2 Bedrooms | 8 | 12 | +50.0% |
3 Bedrooms | 12 | 12 | 0.0% |
4 Bedrooms | 7 | 9 | +28.6% |
5+ Bedrooms | 3 | 6 | +100.0% |
Summary: The Palmer Square housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 50%, 3 bedroom homes remained the same, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
8 | 14 | +75.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 14 homes were sold or pending in Palmer Square in April 2024, up by 75.0% month-over-month. Of the 14 sold homes, 0% were sold under asking, 29% were sold at asking, and 71% were sold over asking.
Days on Market for Palmer Square, IL
How long does it take to sell a home in Palmer Square, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
11 Days | 5 Days | -48.8% |
Summary: Homes in Palmer Square had an average of 5 days on market in Apr 2024, down by 48.8% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 14 homes were sold in Palmer Square; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.