Is Palos Heights, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 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
$368,500
$188/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Palos Heights was $368,500 in June 2024, up 8.4% from last year, and the median price per square foot was $188.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $109.2K | - | N/A |
2 Bedrooms | $256.4K | $285K | +11.2% |
3 Bedrooms | $342.5K | $350K | +2.2% |
4 Bedrooms | $408.7K | $461.9K | +13.0% |
5+ Bedrooms | $485K | $495K | +2.1% |
Summary: Palos Heights housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 11.2%, 3 bedroom homes increased by 2.2%, 4 bedroom homes increased by 13%, and 5+ bedroom homes increased by 2.1%.
Median Sold Price Compared To Nearby Cities
Worth | $200K | $257K | +28.5% |
Palos Township | $254.5K | $315K | +23.7% |
Palos Hills | $216.7K | $260K | +20.0% |
Palos Heights | $340K | $368.5K | +8.4% |
Palos Park | $435K | $432K | -0.7% |
Housing Supply in Palos Heights, IL
How many homes are available in Palos Heights, IL?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
54 | 61 | +13.0% |
Summary: The Palos Heights real estate market had 61 homes for sale in June 2024, a 13.0% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 10 | 13 | +30.0% |
3 Bedrooms | 25 | 28 | +12.0% |
4 Bedrooms | 17 | 19 | +11.8% |
5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Palos Heights housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 30%, 3 bedroom homes increased by 12%, 4 bedroom homes increased by 11.8%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
13 | 15 | +15.4% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 15 homes were sold or pending in Palos Heights in June 2024, up by 15.4% month-over-month. Of the 15 sold homes, 27% were sold under asking, 20% were sold at asking, and 53% 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
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
20 Days | 17 Days | -17.2% |
Summary: Homes in Palos Heights had an average of 17 days on market in Jun 2024, down by 17.2% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During June 2024, 15 homes were sold in Palos Heights; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.