Is Calumet City, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Calumet City is a neutral's market

Buyer's
Market

Difference Since May 2023

At the same time last year, Calumet City was a Buyer's Market.

Key Takeaway

Calumet City is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Calumet City, IL

How much do homes in Calumet City, IL cost?

Median Sold Price

$155,000

$118/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$2,966(-1.9%)

Key Takeaway

Homes in Calumet City have sold for 1.9% less than they did a year ago.

Summary: The median home sold price in Calumet City was $155,000 in May 2024, down 1.9% from last year, and the median price per square foot was $118.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $68K$59.5K
-12.5%
2 $82K$92.4K
+12.7%
3 $162.7K$163.9K
+0.8%
4 $172.2K$165K
-4.2%
5+ $233.5K$245K
+4.9%

Summary: Calumet City housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 12.5%, 2 bedroom homes increased by 12.7%, 3 bedroom homes increased by 0.8%, 4 bedroom homes decreased by 4.2%, and 5+ bedroom homes increased by 4.9%.

Median Sold Price Compared To Nearby Cities

Burnham
+35.5%
Lansing
+7.0%
South Holland
+4.0%
Thornton Township
+3.7%
Calumet City
-1.9%

Housing Supply in Calumet City, IL

How many homes are available in Calumet City, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
173193+11.6%

Summary: The Calumet City real estate market had 193 homes for sale in May 2024, a 11.6% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 22
0.0%
2 2229
+31.8%
3 100115
+15.0%
4 2120
-4.8%
5+ 2827
-3.6%

Summary: The Calumet City 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 31.8%, 3 bedroom homes increased by 15%, 4 bedroom homes decreased by 4.8%, and 5+ bedroom homes decreased by 3.6%.

Number of Homes Sold

Apr 2024May 2024CHANGE
2728+3.7%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

15 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Calumet City, you could pay more than the asking price. 53.6% of homes here sold above asking price last month.

Summary: A total of 28 homes were sold or pending in Calumet City in May 2024, up by 3.7% month-over-month. Of the 28 sold homes, 32% were sold under asking, 14% were sold at asking, and 54% were sold over asking.

Days on Market for Calumet City, IL

How long does it take to sell a home in Calumet City, IL?

Average Sale Time

May 2023May 2024CHANGE
31 Days51 Days+66.3%

Summary: Homes in Calumet City had an average of 51 days on market in May 2024, up by 66.3% compared to last year.

Breakdown of Home Sale Times

16 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 28 homes were sold in Calumet City; 57% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 21% 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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