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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Burnham is a buyer's market

Buyer's
Market

Difference Since December 2023

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

Key Takeaway

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

Housing Prices in Burnham, IL

How much do homes in Burnham, IL cost?

Median Sold Price

$180,000

$133/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$37,500(+26.3%)

Key Takeaway

Homes in Burnham have sold for 26.3% more than they did a year ago.

Summary: The median home sold price in Burnham was $180,000 in December 2024, up 26.3% from last year, and the median price per square foot was $133.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 -$238K
N/A
2 $83K$83K
0.0%
3 $174K$195K
+12.1%
4 $170K$155K
-8.8%
5+ -$180K
N/A

Summary: Burnham housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 12.1%, 4 bedroom homes decreased by 8.8%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Burnham
+26.3%
Thornton Township
+9.8%
Calumet City
+6.5%

Housing Supply in Burnham, IL

How many homes are available in Burnham, IL?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
1922+15.8%

Summary: The Burnham real estate market had 22 homes for sale in December 2024, a 15.8% increase compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 00
0.0%
2 55
0.0%
3 712
+71.4%
4 53
-40.0%
5+ 22
0.0%

Summary: The Burnham housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 71.4%, 4 bedroom homes decreased by 40%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
31-66.7%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Burnham, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.

Summary: A total of 1 homes were sold or pending in Burnham in December 2024, down by 66.7% month-over-month. Of the 1 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.

Days on Market for Burnham, IL

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

Average Sale Time

Dec 2023Dec 2024CHANGE
48 Days17 Days-64.8%

Summary: Homes in Burnham had an average of 17 days on market in Dec 2024, down by 64.8% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During December 2024, 1 homes were sold in Burnham; 100% of homes were sold within 30 days, 0% 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 4 Days Ago

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