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 November 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

$175,000

$136/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$43,100(+32.7%)

Key Takeaway

Homes in Burnham have sold for 32.7% more than they did a year ago.

Summary: The median home sold price in Burnham was $175,000 in November 2024, up 32.7% from last year, and the median price per square foot was $136.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 -$238K
N/A
2 $83K$83K
0.0%
3 $174K$175K
+0.6%
4 $170K$155K
-8.8%
5+ -$180K
N/A

Summary: Burnham housing prices by bedroom type for November 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 0.6%, 4 bedroom homes decreased by 8.8%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Burnham
+32.7%
Thornton Township
+10.1%
Calumet City
+6.4%

Housing Supply in Burnham, IL

How many homes are available in Burnham, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
1622+37.5%

Summary: The Burnham real estate market had 22 homes for sale in November 2024, a 37.5% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 35
+66.7%
3 611
+83.3%
4 65
-16.7%
5+ 11
0.0%

Summary: The Burnham housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 66.7%, 3 bedroom homes increased by 83.3%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
23+50.0%

Asking Price vs. Sold Price

1 Home Was 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 Burnham, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.

Summary: A total of 3 homes were sold or pending in Burnham in November 2024, up by 50.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% 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

Nov 2023Nov 2024CHANGE
21 Days48 Days+124.6%

Summary: Homes in Burnham had an average of 48 days on market in Nov 2024, up by 124.6% compared to last year.

Breakdown of Home Sale Times

0 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

Avg time on Rocket Homes in Burnham has remained consistent over time.

Summary: During November 2024, 3 homes were sold in Burnham; 0% of homes were sold within 30 days, 100% 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 2 Days Ago

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