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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Palos Hills is a seller's market

Buyer's
Market

Difference Since July 2021

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

Key Takeaway

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

How much do homes in Palos Hills, IL cost?

Median Sold Price

$213,000

$155/sqft

Based on all homes sold in the last 12 months.

Difference Since July 2021

-$1,500(-0.7%)

Key Takeaway

Homes in Palos Hills have sold for 0.7% less than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSJul 2021Jul 2022%
1 $77K$97K
+26.0%
2 $164.9K$182.5K
+10.7%
3 $270K$289.9K
+7.4%
4 $350K$383.5K
+9.6%
5+ $440K$526.2K
+19.6%

Median Sold Price Compared To Nearby Cities

Chicago Ridge
+34.5%
Hickory Hills
+16.0%
Worth
+12.5%
Palos Township
+8.1%
Palos Hills
-0.7%

How many homes are available in Palos Hills, IL?

Number of Homes For Sale

Jun 2022Jul 2022%
102116+13.7%

Homes For Sale By Bedroom Count

# BEDSJun 2022Jul 2022%
1 76
-14.3%
2 5260
+15.4%
3 2534
+36.0%
4 1513
-13.3%
5+ 33
0.0%

Number of Homes Sold

Jun 2022Jul 2022%
2534+36.0%

Asking Price vs. Sold Price

17 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Palos Hills, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Average Sale Time

Jul 2021Jul 2022%
21 Days13 Days-38.4%

Breakdown of Home Sale Times

30 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Palos Hills 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 Hills, IL

Palos Hills, IL has 116 homes for sale to choose from. Between June 2022 and July 2022, Palos Hills, IL real estate market has seen increase in the number of listings by 13.7%. While the average time on the market in July 2022 was 13 days, the median list price was $213,000. From June 2022 through July 2022, the following changes in listing prices were observed in this housing market: prices of 1 bedroom properties increased by 26%, 2 bedrooms properties became 10.7% more expensive, prices of 3 bedrooms properties went up by 7.4%, the cost of 4 bedrooms properties went up by 9.6%, prices of 5 bedrooms properties increased by 19.6%. This housing market inventory have changed: number of 1 bedroom homes decreased by 14.3%, 2 bedrooms homes inventory increased by 15.4%, volume of 3 bedrooms homes went up by 36%, the quantity of 4 bedrooms homes went down by 13.3%, number of 5 bedrooms homes remained the same. Over 13 listings were sold over their listed price in July 2022 in Palos Hills, IL. In the same period over 17 listings were sold below the listed price and 4 listings were sold for the listed price.

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