Is Phoenix, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Phoenix is a seller's market

Buyer's
Market

Difference Since September 2023

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

Key Takeaway

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

Housing Prices in Phoenix, IL

How much do homes in Phoenix, IL cost?

Median Sold Price

$143,700

$136/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$3,750(+2.7%)

Key Takeaway

Homes in Phoenix have sold for 2.7% more than they did a year ago.

Summary: The median home sold price in Phoenix was $143,700 in September 2024, up 2.7% from last year, and the median price per square foot was $136.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 --
N/A
2 $34K$43.6K
+28.3%
3 $142K$144K
+1.4%
4 $184.9K$115K
-37.8%
5+ $85K$192.4K
+126.4%

Summary: Phoenix housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 28.3%, 3 bedroom homes increased by 1.4%, 4 bedroom homes decreased by 37.8%, and 5+ bedroom homes increased by 126.4%.

Median Sold Price Compared To Nearby Cities

Harvey
+10.8%
Thornton Township
+9.7%
South Holland
+4.5%
Phoenix
+2.7%

Housing Supply in Phoenix, IL

How many homes are available in Phoenix, IL?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
12120.0%

Summary: The Phoenix real estate market had 12 homes for sale in September 2024, the same as August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 23
+50.0%
3 56
+20.0%
4 21
-50.0%
5+ 32
-33.3%

Summary: The Phoenix housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 20%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes decreased by 33.3%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
24+100.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

2 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Phoenix, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.

Summary: A total of 4 homes were sold or pending in Phoenix in September 2024, up by 100.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 50% were sold at asking, and 25% were sold over asking.

Days on Market for Phoenix, IL

How long does it take to sell a home in Phoenix, IL?

Average Sale Time

Sep 2023Sep 2024CHANGE
123 Days12 Days-89.9%

Summary: Homes in Phoenix had an average of 12 days on market in Sep 2024, down by 89.9% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Phoenix are selling fast, if you're buying plan to act quickly.

Summary: During September 2024, 4 homes were sold in Phoenix; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 5 Days Ago

Newest Listings in Phoenix, IL

Nearby Markets to Phoenix, IL

What housing markets are near Phoenix, IL?