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 neutral's market

Buyer's
Market

Difference Since January 2023

At the same time last year, Summit Argo was a Seller's Market.

Key Takeaway

Summit Argo is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Summit Argo, IL

How much do homes in Summit Argo, IL cost?

Median Sold Price

$268,000

$205/sqft

Based on all homes sold in the last 12 months.

Difference Since January 2023

+$750(+0.3%)

Key Takeaway

The sold price of homes in Summit Argo has remained the same since last year.

Summary: The median home sold price in Summit Argo was $268,000 in January 2024, up 0.3% from last year, and the median price per square foot was $205.

Median Sold Price By Bedroom Count

# BEDSJan 2023Jan 2024CHANGE
1 $48K-
N/A
2 $160K$225K
+40.6%
3 $245K$265K
+8.2%
4 $310K$360K
+16.1%
5+ $320K$327.5K
+2.3%

Summary: Summit Argo housing prices by bedroom type for January 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 40.6%, 3 bedroom homes increased by 8.2%, 4 bedroom homes increased by 16.1%, and 5+ bedroom homes increased by 2.3%.

Median Sold Price Compared To Nearby Cities

Summit
+3.9%
Summit Argo
0.3%
Lyons
-3.8%

Housing Supply in Summit Argo, IL

How many homes are available in Summit Argo, IL?

Number of Homes For Sale

Dec 2023Jan 2024CHANGE
20200.0%

Summary: The Summit Argo real estate market had 20 homes for sale in January 2024, the same as December 2023.

Homes For Sale By Bedroom Count

# BEDSDec 2023Jan 2024CHANGE
1 00
0.0%
2 21
-50.0%
3 89
+12.5%
4 35
+66.7%
5+ 75
-28.6%

Summary: The Summit Argo housing inventory by bedroom type for January 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes decreased by 28.6%.

Number of Homes Sold

Dec 2023Jan 2024CHANGE
63-50.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 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. 66.7% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in Summit Argo in January 2024, down by 50.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% 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

Jan 2023Jan 2024CHANGE
23 Days28 Days+17.9%

Summary: Homes in Summit Argo had an average of 28 days on market in Jan 2024, up by 17.9% compared to last year.

Breakdown of Home Sale Times

2 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.

Summary: During January 2024, 3 homes were sold in Summit Argo; 67% of homes were sold within 30 days, 33% 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 23 Days Ago

Newest Listings in Summit Argo, IL

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