Is Chicago Heights, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Chicago Heights is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, Chicago Heights has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Chicago Heights, IL

How much do homes in Chicago Heights, IL cost?

Median Sold Price

$185,333

$135/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$13,433(+7.8%)

Key Takeaway

Homes in Chicago Heights have sold for 7.8% more than they did a year ago.

Summary: The median home sold price in Chicago Heights was $185,333 in April 2024, up 7.8% from last year, and the median price per square foot was $135.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 -$74.2K
N/A
2 $141K$141K
0.0%
3 $172.2K$184.9K
+7.4%
4 $195K$210K
+7.7%
5+ $186.5K$218.5K
+17.2%

Summary: Chicago Heights housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 7.4%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 17.2%.

Median Sold Price Compared To Nearby Cities

Glenwood
+13.6%
Chicago Heights
+7.8%
Bloom Township
+5.6%
Olympia Fields
0.3%
South Chicago Heights
-9.2%

Housing Supply in Chicago Heights, IL

How many homes are available in Chicago Heights, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
103108+4.9%

Summary: The Chicago Heights real estate market had 108 homes for sale in April 2024, a 4.9% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 711
+57.1%
3 5860
+3.4%
4 1820
+11.1%
5+ 2017
-15.0%

Summary: The Chicago Heights housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 57.1%, 3 bedroom homes increased by 3.4%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes decreased by 15%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
2625-3.8%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

12 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Chicago Heights, you could pay more than the asking price. 48% of homes here sold above asking price last month.

Summary: A total of 25 homes were sold or pending in Chicago Heights in April 2024, down by 3.8% month-over-month. Of the 25 sold homes, 44% were sold under asking, 8% were sold at asking, and 48% were sold over asking.

Days on Market for Chicago Heights, IL

How long does it take to sell a home in Chicago Heights, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
46 Days36 Days-22.5%

Summary: Homes in Chicago Heights had an average of 36 days on market in Apr 2024, down by 22.5% compared to last year.

Breakdown of Home Sale Times

17 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Chicago Heights are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 25 homes were sold in Chicago Heights; 68% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 12% 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 10 Days Ago

Newest Listings in Chicago Heights, IL

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