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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Palos Township is a seller's market

Buyer's
Market

Difference Since September 2021

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

Key Takeaway

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

How much do homes in Palos Township, IL cost?

Median Sold Price

$283,640

$166/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2021

+$21,640(+8.3%)

Key Takeaway

Homes in Palos Township have sold for 8.3% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSSep 2021Sep 2022%
1 $77K$93.2K
+21.1%
2 $172.5K$190K
+10.1%
3 $285K$305.5K
+7.2%
4 $398K$450K
+13.1%
5+ $450K$615K
+36.7%

Median Sold Price Compared To Nearby Cities

Palos Park
+35.4%
Hickory Hills
+13.2%
Worth
+12.5%
Palos Township
+8.3%
Palos Hills
0.4%

How many homes are available in Palos Township, IL?

Number of Homes For Sale

Aug 2022Sep 2022%
234263+12.4%

Homes For Sale By Bedroom Count

# BEDSAug 2022Sep 2022%
1 68
+33.3%
2 8597
+14.1%
3 8286
+4.9%
4 3946
+17.9%
5+ 2226
+18.2%

Number of Homes Sold

Aug 2022Sep 2022%
6064+6.7%

Asking Price vs. Sold Price

37 Homes Were Sold
Under Asking

10 Homes Were Sold
At Asking

17 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Palos Township, you may be able to get a good deal. 57.8% of homes here sold below asking price last month.

Average Sale Time

Sep 2021Sep 2022%
21 Days22 Days+6.2%

Breakdown of Home Sale Times

52 Homes Were Sold
Under 30 Days

9 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Palos Township 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 Township, IL

Palos Township, IL has 263 homes on the market. The inventory of homes for sale in Palos Township, IL between August 2022 and September 2022 increased by 12.4%. In September 2022, listings were on the market for 22 days. During the same period, the median list price in this real estate market was $283,640. Listing prices have changed in this real estate market between August 2022 and September 2022: prices of 1 bedroom properties increased by 21.1%, prices of 2 bedrooms properties increased by 10.1%, 3 bedrooms properties prices increased by 7.2%, prices of 4 bedrooms properties increased by 13.1%, prices of 5 bedrooms properties increased by 36.7%. Housing inventory have changed in this real estate market: 1 bedroom homes inventory increased by 33.3%, the quantity of 2 bedrooms homes went up by 14.1%, 3 bedrooms homes became 4.9% more available, the quantity of 4 bedrooms homes went up by 17.9%, 5 bedrooms homes inventory increased by 18.2%. In September 2022 more than 17 listings in Palos Township, IL were sold above the asking price. During the same period more than 10 listings were sold at asking price, while more than 37 were sold below.

Related Housing Market Reports