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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Avalon Park is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, Avalon Park was a Seller's Market.

Key Takeaway

Avalon Park is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Avalon Park, IL

How much do homes in Avalon Park, IL cost?

Median Sold Price

$232,500

$128/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$43,500(+23.0%)

Key Takeaway

Homes in Avalon Park have sold for 23% more than they did a year ago.

Summary: The median home sold price in Avalon Park was $232,500 in October 2024, up 23% from last year, and the median price per square foot was $128.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $207.5K-
N/A
2 $123K$125K
+1.6%
3 $197.5K$250K
+26.6%
4 $190K$235K
+23.7%
5+ $290K$322K
+11.0%

Summary: Avalon Park housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 1.6%, 3 bedroom homes increased by 26.6%, 4 bedroom homes increased by 23.7%, and 5+ bedroom homes increased by 11%.

Median Sold Price Compared To Nearby Neighborhoods

Stony Island Park
+25.8%
Avalon Park
+23.0%
South Shore
+15.1%
Calumet Heights
+2.2%

Housing Supply in Avalon Park, IL

How many homes are available in Avalon Park, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
4355+27.9%

Summary: The Avalon Park real estate market had 55 homes for sale in October 2024, a 27.9% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 912
+33.3%
3 2128
+33.3%
4 89
+12.5%
5+ 56
+20.0%

Summary: The Avalon Park housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes increased by 20%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
76-14.3%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Avalon Park, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in Avalon Park in October 2024, down by 14.3% month-over-month. Of the 6 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.

Days on Market for Avalon Park, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
87 Days33 Days-61.8%

Summary: Homes in Avalon Park had an average of 33 days on market in Oct 2024, down by 61.8% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 6 homes were sold in Avalon Park; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% 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 21 Days Ago

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