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 December 2021

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.

How much do homes in Summit Argo, IL cost?

Median Sold Price

$260,000

$169/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2021

+$2,100(+0.8%)

Key Takeaway

Homes in Summit Argo have sold for 0.8% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSDec 2021Dec 2022%
1 --
N/A
2 $218K$160K
-26.6%
3 $235K$240K
+2.1%
4 $270K$277.5K
+2.8%
5+ $290K$325K
+12.1%

Median Sold Price Compared To Nearby Cities

Lyons
+7.3%
Summit Argo
+0.8%
Summit
0.4%

How many homes are available in Summit Argo, IL?

Number of Homes For Sale

Nov 2022Dec 2022%
2927-6.9%

Homes For Sale By Bedroom Count

# BEDSNov 2022Dec 2022%
1 00
0.0%
2 43
-25.0%
3 119
-18.2%
4 55
0.0%
5+ 910
+11.1%

Number of Homes Sold

Nov 2022Dec 2022%
37+133.3%

Asking Price vs. Sold Price

4 Homes Were 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 Summit Argo, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.

Average Sale Time

Dec 2021Dec 2022%
35 Days26 Days-24.3%

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

1 Home Was 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.

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

About Summit Argo, IL

There are 27 homes are for sale in Summit Argo, IL real estate market. Between November 2022 and December 2022, Summit Argo, IL real estate market has seen decrease in the number of listings by 6.9%. The median list price of listings available in December 2022 was $260,000, while the average time on the real estate market was 26 days. From November 2022 through December 2022, the following changes in listing prices were observed in this housing market: 1 bedroom properties became 0% more expensive, 2 bedrooms properties prices decreased by 26.6%, the cost of 3 bedrooms properties went up by 2.1%, 4 bedrooms properties prices increased by 2.8%, prices of 5 bedrooms properties went up by 12.1%. Volume of homes for sale in this real estate market have seen the following changes: 1 bedroom homes inventory did not change, 2 bedrooms homes inventory decreased by 25%, 3 bedrooms homes became 18.2% less available, the quantity of 4 bedrooms homes have not changed, 5 bedrooms homes became 11.1% more available. In December 2022, from all listings sold in Summit Argo, IL there were more than 1 sold above asking price, over 4 sold below and more than 2 were sold right at the asked price.

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