Is Beach Park, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Beach Park is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Beach Park has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Beach Park, IL

How much do homes in Beach Park, IL cost?

Median Sold Price

$248,000

$159/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$3,000(+1.2%)

Key Takeaway

Homes in Beach Park have sold for 1.2% more than they did a year ago.

Summary: The median home sold price in Beach Park was $248,000 in May 2024, up 1.2% from last year, and the median price per square foot was $159.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $165K$100K
-39.4%
2 $182.5K$206K
+12.9%
3 $244.4K$250K
+2.3%
4 $301.9K$320K
+6.0%
5+ $313K$270.9K
-13.5%

Summary: Beach Park housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 39.4%, 2 bedroom homes increased by 12.9%, 3 bedroom homes increased by 2.3%, 4 bedroom homes increased by 6%, and 5+ bedroom homes decreased by 13.5%.

Median Sold Price Compared To Nearby Cities

Zion Township
+17.9%
Zion
+17.9%
Waukegan
+12.5%
Beach Park
+1.2%
Benton Township
-12.2%

Housing Supply in Beach Park, IL

How many homes are available in Beach Park, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
4050+25.0%

Summary: The Beach Park real estate market had 50 homes for sale in May 2024, a 25.0% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 11
0.0%
2 1310
-23.1%
3 1626
+62.5%
4 912
+33.3%
5+ 11
0.0%

Summary: The Beach Park housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 23.1%, 3 bedroom homes increased by 62.5%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
1113+18.2%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Beach Park, you may be able to get a good deal. 46.2% of homes here sold below asking price last month.

Summary: A total of 13 homes were sold or pending in Beach Park in May 2024, up by 18.2% month-over-month. Of the 13 sold homes, 46% were sold under asking, 8% were sold at asking, and 46% were sold over asking.

Days on Market for Beach Park, IL

How long does it take to sell a home in Beach Park, IL?

Average Sale Time

May 2023May 2024CHANGE
21 Days30 Days+41.8%

Summary: Homes in Beach Park had an average of 30 days on market in May 2024, up by 41.8% compared to last year.

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 13 homes were sold in Beach Park; 85% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 15% 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 1 Day Ago

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