Is Palos Township, 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 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
$315,000
$186/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Palos Township was $315,000 in June 2024, up 23.7% from last year, and the median price per square foot was $186.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $102.5K | $127.7K | +24.6% |
2 Bedrooms | $195K | $220.2K | +12.9% |
3 Bedrooms | $300K | $341.3K | +13.8% |
4 Bedrooms | $440K | $440K | 0.0% |
5+ Bedrooms | $580K | $617.5K | +6.5% |
Summary: Palos Township housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 24.6%, 2 bedroom homes increased by 12.9%, 3 bedroom homes increased by 13.8%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 6.5%.
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% |
Palos Park | $435K | $432K | -0.7% |
Housing Supply in Palos Township, IL
How many homes are available in Palos Township, IL?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
190 | 224 | +17.9% |
Summary: The Palos Township real estate market had 224 homes for sale in June 2024, a 17.9% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 10 | 10 | 0.0% |
2 Bedrooms | 44 | 60 | +36.4% |
3 Bedrooms | 70 | 80 | +14.3% |
4 Bedrooms | 47 | 56 | +19.1% |
5+ Bedrooms | 19 | 18 | -5.3% |
Summary: The Palos Township 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 36.4%, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 19.1%, and 5+ bedroom homes decreased by 5.3%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
59 | 53 | -10.2% |
Asking Price vs. Sold Price
20 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
25 Homes Were Sold
Over Asking
Summary: A total of 53 homes were sold or pending in Palos Township in June 2024, down by 10.2% month-over-month. Of the 53 sold homes, 38% were sold under asking, 15% were sold at asking, and 47% 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
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
23 Days | 19 Days | -16.4% |
Summary: Homes in Palos Township had an average of 19 days on market in Jun 2024, down by 16.4% compared to last year.
Breakdown of Home Sale Times
43 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During June 2024, 53 homes were sold in Palos Township; 81% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.