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 September 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

$170,000

$125/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$15,000(+9.7%)

Key Takeaway

Homes in Steger have sold for 9.7% more than they did a year ago.

Summary: The median home sold price in Steger was $170,000 in September 2024, up 9.7% from last year, and the median price per square foot was $125.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $48.7K$127K
+160.5%
2 $123.7K$130.5K
+5.5%
3 $151K$172.5K
+14.3%
4 $175K$199.9K
+14.2%
5+ $196.2K$190.2K
-3.1%

Summary: Steger housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 160.5%, 2 bedroom homes increased by 5.5%, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 14.2%, and 5+ bedroom homes decreased by 3.1%.

Median Sold Price Compared To Nearby Cities

Crete Township
+16.2%
Steger
+9.7%
South Chicago Heights
+7.7%
Crete
+3.2%
Sauk Village
0.3%

Housing Supply in Steger, IL

How many homes are available in Steger, IL?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
4248+14.3%

Summary: The Steger real estate market had 48 homes for sale in September 2024, a 14.3% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 22
0.0%
2 57
+40.0%
3 2527
+8.0%
4 810
+25.0%
5+ 22
0.0%

Summary: The Steger 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 40%, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
109-10.0%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Steger, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 9 homes were sold or pending in Steger in September 2024, down by 10.0% month-over-month. Of the 9 sold homes, 67% were sold under asking, 11% were sold at asking, and 22% 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

Sep 2023Sep 2024CHANGE
23 Days37 Days+55.8%

Summary: Homes in Steger had an average of 37 days on market in Sep 2024, up by 55.8% compared to last year.

Breakdown of Home Sale Times

6 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 September 2024, 9 homes were sold in Steger; 67% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 11% 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 Sep 1, 2024

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