Is Palos Hills, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Palos Hills has remained a Seller's Market.
Housing Prices in Palos Hills, IL
How much do homes in Palos Hills, IL cost?
Median Sold Price
$247,500
$174/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Palos Hills was $247,500 in April 2024, up 16.3% from last year, and the median price per square foot was $174.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $105.1K | $125K | +18.9% |
2 Bedrooms | $185K | $200K | +8.1% |
3 Bedrooms | $285K | $330K | +15.8% |
4 Bedrooms | $410K | $440K | +7.3% |
5+ Bedrooms | $523.2K | $460K | -12.1% |
Summary: Palos Hills housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.9%, 2 bedroom homes increased by 8.1%, 3 bedroom homes increased by 15.8%, 4 bedroom homes increased by 7.3%, and 5+ bedroom homes decreased by 12.1%.
Median Sold Price Compared To Nearby Cities
Worth | $203K | $249.7K | +23.0% |
Hickory Hills | $264K | $313.5K | +18.8% |
Palos Township | $261.4K | $310K | +18.6% |
Palos Hills | $212.7K | $247.5K | +16.3% |
Chicago Ridge | $167.5K | $186K | +11.0% |
Housing Supply in Palos Hills, IL
How many homes are available in Palos Hills, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
79 | 79 | 0.0% |
Summary: The Palos Hills real estate market had 79 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 2 | +100.0% |
2 Bedrooms | 32 | 30 | -6.3% |
3 Bedrooms | 26 | 29 | +11.5% |
4 Bedrooms | 16 | 14 | -12.5% |
5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Palos Hills housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 6.3%, 3 bedroom homes increased by 11.5%, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
36 | 19 | -47.2% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 19 homes were sold or pending in Palos Hills in April 2024, down by 47.2% month-over-month. Of the 19 sold homes, 21% were sold under asking, 26% were sold at asking, and 53% were sold over asking.
Days on Market for Palos Hills, IL
How long does it take to sell a home in Palos Hills, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
21 Days | 23 Days | +8.4% |
Summary: Homes in Palos Hills had an average of 23 days on market in Apr 2024, up by 8.4% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 19 homes were sold in Palos Hills; 84% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.