Is Palos Hills, 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 Hills has remained a Seller's Market.
Housing Prices in Palos Hills, IL
How much do homes in Palos Hills, IL cost?
Median Sold Price
$260,000
$178/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Palos Hills was $260,000 in June 2024, up 20% from last year, and the median price per square foot was $178.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $100K | $129.5K | +29.5% |
2 Bedrooms | $186.2K | $213K | +14.4% |
3 Bedrooms | $292K | $330K | +13.0% |
4 Bedrooms | $441K | $426K | -3.4% |
5+ Bedrooms | $489K | $505K | +3.3% |
Summary: Palos Hills housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 29.5%, 2 bedroom homes increased by 14.4%, 3 bedroom homes increased by 13%, 4 bedroom homes decreased by 3.4%, and 5+ bedroom homes increased by 3.3%.
Median Sold Price Compared To Nearby Cities
Worth | $200K | $257K | +28.5% |
Palos Township | $254.5K | $315K | +23.7% |
Hickory Hills | $260K | $316K | +21.5% |
Palos Hills | $216.7K | $260K | +20.0% |
Chicago Ridge | $169.5K | $188K | +10.9% |
Housing Supply in Palos Hills, IL
How many homes are available in Palos Hills, IL?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
70 | 77 | +10.0% |
Summary: The Palos Hills real estate market had 77 homes for sale in June 2024, a 10.0% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 6 | 5 | -16.7% |
2 Bedrooms | 20 | 29 | +45.0% |
3 Bedrooms | 27 | 27 | 0.0% |
4 Bedrooms | 13 | 12 | -7.7% |
5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Palos Hills housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 16.7%, 2 bedroom homes increased by 45%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 7.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
28 | 15 | -46.4% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 15 homes were sold or pending in Palos Hills in June 2024, down by 46.4% month-over-month. Of the 15 sold homes, 33% were sold under asking, 7% were sold at asking, and 60% were sold over asking.
Days on Market for Palos Hills, IL
How long does it take to sell a home in Palos Hills, IL?
Average Sale Time
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
28 Days | 13 Days | -51.7% |
Summary: Homes in Palos Hills had an average of 13 days on market in Jun 2024, down by 51.7% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During June 2024, 15 homes were sold in Palos Hills; 87% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.