Is Summit Argo, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Summit Argo is a seller's market

Buyer's
Market

Difference Since June 2023

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

Key Takeaway

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

Housing Prices in Summit Argo, IL

How much do homes in Summit Argo, IL cost?

Median Sold Price

$290,000

$197/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

+$27,000(+10.3%)

Key Takeaway

Homes in Summit Argo have sold for 10.3% more than they did a year ago.

Summary: The median home sold price in Summit Argo was $290,000 in June 2024, up 10.3% from last year, and the median price per square foot was $197.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 $48K-
N/A
2 $157.5K$235K
+49.2%
3 $260K$271K
+4.2%
4 $310K$370K
+19.4%
5+ $322.5K$340K
+5.4%

Summary: Summit Argo housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 49.2%, 3 bedroom homes increased by 4.2%, 4 bedroom homes increased by 19.4%, and 5+ bedroom homes increased by 5.4%.

Median Sold Price Compared To Nearby Cities

Summit
+15.1%
Summit Argo
+10.3%
Lyons
+6.0%

Housing Supply in Summit Argo, IL

How many homes are available in Summit Argo, IL?

Number of Homes For Sale

May 2024Jun 2024CHANGE
1518+20.0%

Summary: The Summit Argo real estate market had 18 homes for sale in June 2024, a 20.0% increase compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 00
0.0%
2 11
0.0%
3 68
+33.3%
4 34
+33.3%
5+ 55
0.0%

Summary: The Summit Argo 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 remained the same, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

May 2024Jun 2024CHANGE
35+66.7%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Summit Argo, you could pay more than the asking price. 60% of homes here sold above asking price last month.

Summary: A total of 5 homes were sold or pending in Summit Argo in June 2024, up by 66.7% month-over-month. Of the 5 sold homes, 20% were sold under asking, 20% were sold at asking, and 60% were sold over asking.

Days on Market for Summit Argo, IL

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

Average Sale Time

Jun 2023Jun 2024CHANGE
62 Days13 Days-77.9%

Summary: Homes in Summit Argo had an average of 13 days on market in Jun 2024, down by 77.9% compared to last year.

Breakdown of Home Sale Times

5 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 Summit Argo are selling fast, if you're buying plan to act quickly.

Summary: During June 2024, 5 homes were sold in Summit Argo; 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 26 Days Ago

Newest Listings in Summit Argo, IL

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