Is Highland, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Highland has remained a Seller's Market.
Key Takeaway
Highland is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Highland, IL
How much do homes in Highland, IL cost?
Median Sold Price
$223,075
$126/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Highland have sold for 8.2% more than they did a year ago.
Summary: The median home sold price in Highland was $223,075 in May 2024, up 8.2% from last year, and the median price per square foot was $126.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $93K | $84K | -9.7% |
| 2 Bedrooms | $152K | $182K | +19.7% |
| 3 Bedrooms | $220K | $228K | +3.6% |
| 4 Bedrooms | $287.5K | $295K | +2.6% |
| 5+ Bedrooms | $375K | $369.9K | -1.4% |
Summary: Highland housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 9.7%, 2 bedroom homes increased by 19.7%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 2.6%, and 5+ bedroom homes decreased by 1.4%.
Median Sold Price Compared To Nearby Cities
| Highland | $206.2K | $223K | +8.2% |
| Helvetia Township | $190K | $205K | +7.9% |
| Saline Township | $277K | $280K | +1.1% |
Housing Supply in Highland, IL
How many homes are available in Highland, IL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 48 | 49 | +2.1% |
Summary: The Highland real estate market had 49 homes for sale in May 2024, a 2.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 10 | 12 | +20.0% |
| 3 Bedrooms | 29 | 32 | +10.3% |
| 4 Bedrooms | 6 | 3 | -50.0% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Highland 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 increased by 20%, 3 bedroom homes increased by 10.3%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 18 | 13 | -27.8% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Highland, you could pay more than the asking price. 61.5% of homes here sold above asking price last month.
Summary: A total of 13 homes were sold or pending in Highland in May 2024, down by 27.8% month-over-month. Of the 13 sold homes, 31% were sold under asking, 8% were sold at asking, and 62% were sold over asking.
Days on Market for Highland, IL
How long does it take to sell a home in Highland, IL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 25 Days | 50 Days | +98.7% |
Summary: Homes in Highland had an average of 50 days on market in May 2024, up by 98.7% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Highland has remained consistent over time.
Summary: During May 2024, 13 homes were sold in Highland; 23% of homes were sold within 30 days, 54% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
Listings courtesy of Mid America Regional Information System as distributed by MLS GRID.