Is Harvey, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Harvey is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Harvey, IL

How much do homes in Harvey, IL cost?

Median Sold Price

$120,000

$100/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$5,050(+4.4%)

Key Takeaway

Homes in Harvey have sold for 4.4% more than they did a year ago.

Summary: The median home sold price in Harvey was $120,000 in May 2024, up 4.4% from last year, and the median price per square foot was $100.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $16.5K-
N/A
2 $65.9K$76K
+15.3%
3 $115K$120K
+4.3%
4 $132K$149K
+12.9%
5+ $122.4K$145.9K
+19.2%

Summary: Harvey housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 15.3%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 12.9%, and 5+ bedroom homes increased by 19.2%.

Median Sold Price Compared To Nearby Cities

Markham
+16.4%
Dixmoor
+13.3%
Harvey
+4.4%
Thornton Township
+3.7%

Housing Supply in Harvey, IL

How many homes are available in Harvey, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
89104+16.9%

Summary: The Harvey real estate market had 104 homes for sale in May 2024, a 16.9% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 1115
+36.4%
3 5456
+3.7%
4 1422
+57.1%
5+ 1011
+10.0%

Summary: The Harvey 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 36.4%, 3 bedroom homes increased by 3.7%, 4 bedroom homes increased by 57.1%, and 5+ bedroom homes increased by 10%.

Number of Homes Sold

Apr 2024May 2024CHANGE
1018+80.0%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Harvey, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 18 homes were sold or pending in Harvey in May 2024, up by 80.0% month-over-month. Of the 18 sold homes, 28% were sold under asking, 22% were sold at asking, and 50% were sold over asking.

Days on Market for Harvey, IL

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

Average Sale Time

May 2023May 2024CHANGE
46 Days53 Days+14.9%

Summary: Homes in Harvey had an average of 53 days on market in May 2024, up by 14.9% compared to last year.

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 18 homes were sold in Harvey; 61% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 17% 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 10 Days Ago

Newest Listings in Harvey, IL

Nearby Markets to Harvey, IL

What housing markets are near Harvey, IL?