Is Palos Heights, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Palos Heights is a seller's market

Buyer's
Market

Difference Since September 2021

Since last year, Palos Heights has remained a Seller's Market.

Key Takeaway

Palos Heights is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Palos Heights, IL cost?

Median Sold Price

$340,000

$167/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2021

+$39,308(+13.1%)

Key Takeaway

Homes in Palos Heights have sold for 13.1% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSSep 2021Sep 2022%
1 $148.2K$109.9K
-25.9%
2 $234.8K$250.5K
+6.7%
3 $290K$335K
+15.5%
4 $400K$430K
+7.5%
5+ $430K$485K
+12.8%

Median Sold Price Compared To Nearby Cities

Palos Park
+35.4%
Palos Heights
+13.1%
Worth
+12.5%
Palos Township
+8.3%
Palos Hills
0.4%

How many homes are available in Palos Heights, IL?

Number of Homes For Sale

Aug 2022Sep 2022%
5866+13.8%

Homes For Sale By Bedroom Count

# BEDSAug 2022Sep 2022%
1 00
0.0%
2 1219
+58.3%
3 2929
0.0%
4 1314
+7.7%
5+ 44
0.0%

Number of Homes Sold

Aug 2022Sep 2022%
1220+66.7%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Palos Heights, you may be able to get a good deal. 45% of homes here sold below asking price last month.

Average Sale Time

Sep 2021Sep 2022%
19 Days20 Days+5.3%

Breakdown of Home Sale Times

16 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Palos Heights are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Palos Heights, IL

Number of homes for sale in Palos Heights, IL real estate market have reached 66. The number of listings in Palos Heights, IL increased by 13.8% between August 2022 and September 2022. In September 2022 median list price was $340,000 and the average listing age was 20 days. Real estate listing prices changed between August 2022 and September 2022: 1 bedroom properties prices decreased by 25.9%, 2 bedrooms properties became 6.7% more expensive, the cost of 3 bedrooms properties went up by 15.5%, the cost of 4 bedrooms properties went up by 7.5%, 5 bedrooms properties became 12.8% more expensive. Housing inventory have changed in this real estate market: number of 1 bedroom homes remained the same, the quantity of 2 bedrooms homes went up by 58.3%, 3 bedrooms homes did not move, volume of 4 bedrooms homes went up by 7.7%, 5 bedrooms homes inventory did not change. In September 2022 more than 8 listings in Palos Heights, IL were sold above the asking price. During the same period more than 3 listings were sold at asking price, while more than 9 were sold below.

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