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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Steger is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Steger, IL

How much do homes in Steger, IL cost?

Median Sold Price

$165,450

$127/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$11,950(+7.8%)

Key Takeaway

Homes in Steger have sold for 7.8% more than they did a year ago.

Summary: The median home sold price in Steger was $165,450 in May 2024, up 7.8% from last year, and the median price per square foot was $127.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $48.7K-
N/A
2 $112K$130K
+16.1%
3 $152K$161K
+5.9%
4 $161K$187.5K
+16.5%
5+ $196.2K$162.5K
-17.2%

Summary: Steger housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 16.1%, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 16.5%, and 5+ bedroom homes decreased by 17.2%.

Median Sold Price Compared To Nearby Cities

Crete Township
+12.8%
Steger
+7.8%
South Chicago Heights
+4.2%
Sauk Village
+3.4%
Crete
+2.0%

Housing Supply in Steger, IL

How many homes are available in Steger, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
4252+23.8%

Summary: The Steger real estate market had 52 homes for sale in May 2024, a 23.8% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 12
+100.0%
2 99
0.0%
3 1726
+52.9%
4 109
-10.0%
5+ 56
+20.0%

Summary: The Steger housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 52.9%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes increased by 20%.

Number of Homes Sold

Apr 2024May 2024CHANGE
512+140.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Steger, you could pay more than the asking price. 41.7% of homes here sold above asking price last month.

Summary: A total of 12 homes were sold or pending in Steger in May 2024, up by 140.0% month-over-month. Of the 12 sold homes, 33% were sold under asking, 25% were sold at asking, and 42% were sold over asking.

Days on Market for Steger, IL

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

Average Sale Time

May 2023May 2024CHANGE
30 Days51 Days+67.6%

Summary: Homes in Steger had an average of 51 days on market in May 2024, up by 67.6% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 12 homes were sold in Steger; 75% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 8% 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 16 Days Ago

Newest Listings in Steger, IL

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