Is Highland Park, 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 Park has remained a Seller's Market.
Housing Prices in Highland Park, IL
How much do homes in Highland Park, IL cost?
Median Sold Price
$667,000
$259/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Highland Park was $667,000 in May 2024, up 4.2% from last year, and the median price per square foot was $259.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $165K | $209K | +26.7% |
2 Bedrooms | $385K | $375K | -2.6% |
3 Bedrooms | $500K | $525K | +5.0% |
4 Bedrooms | $739K | $750K | +1.5% |
5+ Bedrooms | $1.0M | $1.2M | +19.5% |
Summary: Highland Park housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 26.7%, 2 bedroom homes decreased by 2.6%, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 1.5%, and 5+ bedroom homes increased by 19.5%.
Median Sold Price Compared To Nearby Cities
West Deerfield Township | $670.1K | $737K | +10.0% |
Moraine Township | $613.4K | $650K | +6.0% |
Deerfield | $525K | $548K | +4.4% |
Highland Park | $639.8K | $667K | +4.2% |
Housing Supply in Highland Park, IL
How many homes are available in Highland Park, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
144 | 155 | +7.6% |
Summary: The Highland Park real estate market had 155 homes for sale in May 2024, a 7.6% 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 | 15 | 18 | +20.0% |
3 Bedrooms | 46 | 47 | +2.2% |
4 Bedrooms | 54 | 58 | +7.4% |
5+ Bedrooms | 29 | 32 | +10.3% |
Summary: The Highland 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 increased by 20%, 3 bedroom homes increased by 2.2%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes increased by 10.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
35 | 38 | +8.6% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Summary: A total of 38 homes were sold or pending in Highland Park in May 2024, up by 8.6% month-over-month. Of the 38 sold homes, 50% were sold under asking, 5% were sold at asking, and 45% were sold over asking.
Days on Market for Highland Park, IL
How long does it take to sell a home in Highland Park, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
23 Days | 26 Days | +13.5% |
Summary: Homes in Highland Park had an average of 26 days on market in May 2024, up by 13.5% compared to last year.
Breakdown of Home Sale Times
30 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 38 homes were sold in Highland Park; 79% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.