Is Palos Township, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Palos Township has remained a Seller's Market.
Housing Prices in Palos Township, IL
How much do homes in Palos Township, IL cost?
Median Sold Price
$300,375
$180/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Palos Township was $300,375 in March 2024, up 12.9% from last year, and the median price per square foot was $180.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $100K | $111.5K | +11.5% |
2 Bedrooms | $193K | $215K | +11.4% |
3 Bedrooms | $300K | $340K | +13.3% |
4 Bedrooms | $450K | $441K | -2.0% |
5+ Bedrooms | $600K | $640K | +6.7% |
Summary: Palos Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.5%, 2 bedroom homes increased by 11.4%, 3 bedroom homes increased by 13.3%, 4 bedroom homes decreased by 2%, and 5+ bedroom homes increased by 6.7%.
Median Sold Price Compared To Nearby Cities
Worth | $203K | $249.5K | +22.9% |
Palos Hills | $212.7K | $241.3K | +13.4% |
Palos Township | $265.9K | $300.3K | +12.9% |
Hickory Hills | $273K | $306.5K | +12.3% |
Palos Park | $525K | $421.2K | -19.8% |
Housing Supply in Palos Township, IL
How many homes are available in Palos Township, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
175 | 196 | +12.0% |
Summary: The Palos Township real estate market had 196 homes for sale in March 2024, a 12.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 6 | 4 | -33.3% |
2 Bedrooms | 55 | 54 | -1.8% |
3 Bedrooms | 64 | 75 | +17.2% |
4 Bedrooms | 35 | 46 | +31.4% |
5+ Bedrooms | 15 | 17 | +13.3% |
Summary: The Palos Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes decreased by 1.8%, 3 bedroom homes increased by 17.2%, 4 bedroom homes increased by 31.4%, and 5+ bedroom homes increased by 13.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
46 | 59 | +28.3% |
Asking Price vs. Sold Price
32 Homes Were Sold
Under Asking
15 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Summary: A total of 59 homes were sold or pending in Palos Township in March 2024, up by 28.3% month-over-month. Of the 59 sold homes, 54% were sold under asking, 25% were sold at asking, and 20% were sold over asking.
Days on Market for Palos Township, IL
How long does it take to sell a home in Palos Township, IL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
39 Days | 34 Days | -11.3% |
Summary: Homes in Palos Township had an average of 34 days on market in Mar 2024, down by 11.3% compared to last year.
Breakdown of Home Sale Times
39 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During March 2024, 59 homes were sold in Palos Township; 66% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.