Is Prospect Heights, 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, Prospect Heights has remained a Seller's Market.
Housing Prices in Prospect Heights, IL
How much do homes in Prospect Heights, IL cost?
Median Sold Price
$255,000
$202/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Prospect Heights was $255,000 in June 2024, down 17.7% from last year, and the median price per square foot was $202.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $113.5K | $139.9K | +23.3% |
2 Bedrooms | $170.5K | $200K | +17.3% |
3 Bedrooms | $367.5K | $370.5K | +0.8% |
4 Bedrooms | $615K | $630K | +2.4% |
5+ Bedrooms | $570K | $802K | +40.7% |
Summary: Prospect Heights housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.3%, 2 bedroom homes increased by 17.3%, 3 bedroom homes increased by 0.8%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes increased by 40.7%.
Median Sold Price Compared To Nearby Cities
Arlington Heights | $385K | $419.2K | +8.9% |
Mount Prospect | $361K | $380K | +5.3% |
Wheeling | $260K | $271.8K | +4.6% |
Wheeling Township | $340.3K | $349.6K | +2.7% |
Prospect Heights | $310K | $255K | -17.7% |
Housing Supply in Prospect Heights, IL
How many homes are available in Prospect Heights, IL?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
39 | 42 | +7.7% |
Summary: The Prospect Heights real estate market had 42 homes for sale in June 2024, a 7.7% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 3 | -25.0% |
2 Bedrooms | 18 | 16 | -11.1% |
3 Bedrooms | 6 | 14 | +133.3% |
4 Bedrooms | 9 | 7 | -22.2% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Prospect Heights housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes decreased by 11.1%, 3 bedroom homes increased by 133.3%, 4 bedroom homes decreased by 22.2%, and 5+ bedroom homes remained the same.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
14 | 12 | -14.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 12 homes were sold or pending in Prospect Heights in June 2024, down by 14.3% month-over-month. Of the 12 sold homes, 25% were sold under asking, 8% were sold at asking, and 67% were sold over asking.
Days on Market for Prospect Heights, IL
How long does it take to sell a home in Prospect Heights, IL?
Average Sale Time
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
11 Days | 8 Days | -23.7% |
Summary: Homes in Prospect Heights had an average of 8 days on market in Jun 2024, down by 23.7% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During June 2024, 12 homes were sold in Prospect Heights; 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.