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 buyer's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Calumet City, IL

How much do homes in Calumet City, IL cost?

Median Sold Price

$160,200

$118/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$5,200(+3.4%)

Key Takeaway

Homes in Calumet City have sold for 3.4% more than they did a year ago.

Summary: The median home sold price in Calumet City was $160,200 in October 2024, up 3.4% from last year, and the median price per square foot was $118.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $59K$47K
-20.3%
2 $94K$93.5K
-0.5%
3 $165K$167K
+1.2%
4 $165K$169K
+2.4%
5+ $241K$264K
+9.5%

Summary: Calumet City housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 20.3%, 2 bedroom homes decreased by 0.5%, 3 bedroom homes increased by 1.2%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes increased by 9.5%.

Median Sold Price Compared To Nearby Cities

Burnham
+29.6%
Lansing
+11.7%
Thornton Township
+9.6%
South Holland
+5.0%
Calumet City
+3.4%

Housing Supply in Calumet City, IL

How many homes are available in Calumet City, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
184226+22.8%

Summary: The Calumet City real estate market had 226 homes for sale in October 2024, a 22.8% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 23
+50.0%
2 2630
+15.4%
3 112131
+17.0%
4 1930
+57.9%
5+ 2532
+28.0%

Summary: The Calumet City housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 15.4%, 3 bedroom homes increased by 17%, 4 bedroom homes increased by 57.9%, and 5+ bedroom homes increased by 28%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1527+80.0%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

12 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. 44.4% of homes here sold above asking price last month.

Summary: A total of 27 homes were sold or pending in Calumet City in October 2024, up by 80.0% month-over-month. Of the 27 sold homes, 41% were sold under asking, 15% were sold at asking, and 44% 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

Oct 2023Oct 2024CHANGE
46 Days42 Days-7.4%

Summary: Homes in Calumet City had an average of 42 days on market in Oct 2024, down by 7.4% compared to last year.

Breakdown of Home Sale Times

16 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

3 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 October 2024, 27 homes were sold in Calumet City; 59% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 11% 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 20 Days Ago

Newest Listings in Calumet City, IL

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