Is Homewood, 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, Homewood has remained a Seller's Market.
Housing Prices in Homewood, IL
How much do homes in Homewood, IL cost?
Median Sold Price
$240,000
$151/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Homewood was $240,000 in April 2024, up 4.2% from last year, and the median price per square foot was $151.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $76K | $100K | +31.6% |
2 Bedrooms | $140.5K | $153K | +8.9% |
3 Bedrooms | $240K | $250K | +4.2% |
4 Bedrooms | $297K | $315K | +6.1% |
5+ Bedrooms | $350K | $339.9K | -2.9% |
Summary: Homewood housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 31.6%, 2 bedroom homes increased by 8.9%, 3 bedroom homes increased by 4.2%, 4 bedroom homes increased by 6.1%, and 5+ bedroom homes decreased by 2.9%.
Median Sold Price Compared To Nearby Cities
Hazel Crest | $155K | $171K | +10.3% |
Homewood | $230.4K | $240K | +4.2% |
Flossmoor | $315K | $315K | 0.0% |
Housing Supply in Homewood, IL
How many homes are available in Homewood, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
91 | 109 | +19.8% |
Summary: The Homewood real estate market had 109 homes for sale in April 2024, a 19.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 3 | 0.0% |
2 Bedrooms | 15 | 23 | +53.3% |
3 Bedrooms | 38 | 45 | +18.4% |
4 Bedrooms | 31 | 34 | +9.7% |
5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Homewood 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 53.3%, 3 bedroom homes increased by 18.4%, 4 bedroom homes increased by 9.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
20 | 29 | +45.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Summary: A total of 29 homes were sold or pending in Homewood in April 2024, up by 45.0% month-over-month. Of the 29 sold homes, 31% were sold under asking, 24% were sold at asking, and 45% were sold over asking.
Days on Market for Homewood, IL
How long does it take to sell a home in Homewood, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
51 Days | 57 Days | +11.2% |
Summary: Homes in Homewood had an average of 57 days on market in Apr 2024, up by 11.2% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During April 2024, 29 homes were sold in Homewood; 55% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.