Is Palos Heights, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Palos Heights has remained a Seller's Market.
Housing Prices in Palos Heights, IL
How much do homes in Palos Heights, IL cost?
Median Sold Price
$362,250
$184/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Palos Heights was $362,250 in March 2024, up 9.1% from last year, and the median price per square foot was $184.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $109.2K | - | N/A |
2 Bedrooms | $252.5K | $274K | +8.5% |
3 Bedrooms | $335K | $350K | +4.5% |
4 Bedrooms | $415K | $458.4K | +10.5% |
5+ Bedrooms | $465K | $495K | +6.5% |
Summary: Palos Heights housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 8.5%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 10.5%, and 5+ bedroom homes increased by 6.5%.
Median Sold Price Compared To Nearby Cities
Worth | $203K | $249.5K | +22.9% |
Palos Hills | $212.7K | $241.3K | +13.4% |
Palos Township | $265.9K | $300.3K | +12.9% |
Palos Heights | $332K | $362.2K | +9.1% |
Palos Park | $525K | $421.2K | -19.8% |
Housing Supply in Palos Heights, IL
How many homes are available in Palos Heights, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
36 | 47 | +30.6% |
Summary: The Palos Heights real estate market had 47 homes for sale in March 2024, a 30.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 10 | 15 | +50.0% |
3 Bedrooms | 18 | 21 | +16.7% |
4 Bedrooms | 6 | 8 | +33.3% |
5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Palos Heights housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
7 | 12 | +71.4% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 12 homes were sold or pending in Palos Heights in March 2024, up by 71.4% month-over-month. Of the 12 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.
Days on Market for Palos Heights, IL
How long does it take to sell a home in Palos Heights, IL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
35 Days | 41 Days | +18.3% |
Summary: Homes in Palos Heights had an average of 41 days on market in Mar 2024, up by 18.3% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 12 homes were sold in Palos Heights; 50% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.