$2,136 Closing Credit*
$179,900
1,092 SqFt
3 Beds
•2 Full Baths
Kyle Killebrew, Listing Office: The Real Estate Group, Inc.
Is Chatham, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Chatham has remained a Seller's Market.
Key Takeaway
Chatham is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Chatham, IL
How much do homes in Chatham, IL cost?
Median Sold Price
$285,000
$127/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$20,000(+7.5%)
Key Takeaway
Homes in Chatham have sold for 7.5% more than they did a year ago.
Summary: The median home sold price in Chatham was $285,000 in October 2024, up 7.5% from last year, and the median price per square foot was $127.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $96K | N/A |
| 2 Bedrooms | $137.5K | $170K | +23.6% |
| 3 Bedrooms | $229.5K | $266.3K | +16.0% |
| 4 Bedrooms | $330K | $359.9K | +9.1% |
| 5+ Bedrooms | $399.9K | $436K | +9.0% |
Summary: Chatham 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 23.6%, 3 bedroom homes increased by 16%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes increased by 9%.
Median Sold Price Compared To Nearby Cities
| Chatham | $265K | $285K | +7.5% |
| Chatham Township | $265K | $285K | +7.5% |
| Ball Township | $326K | $320K | -1.8% |
Housing Supply in Chatham, IL
How many homes are available in Chatham, IL?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 56 | 46 | -17.9% |
Summary: The Chatham real estate market had 46 homes for sale in October 2024, a 17.9% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 27 | 23 | -14.8% |
| 4 Bedrooms | 19 | 16 | -15.8% |
| 5+ Bedrooms | 8 | 5 | -37.5% |
Summary: The Chatham 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 remained the same, 3 bedroom homes decreased by 14.8%, 4 bedroom homes decreased by 15.8%, and 5+ bedroom homes decreased by 37.5%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 18 | 19 | +5.6% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Chatham, you may be able to get a good deal. 42.1% of homes here sold below asking price last month.
Summary: A total of 19 homes were sold or pending in Chatham in October 2024, up by 5.6% month-over-month. Of the 19 sold homes, 42% were sold under asking, 16% were sold at asking, and 42% were sold over asking.
Days on Market for Chatham, IL
How long does it take to sell a home in Chatham, IL?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 12 Days | 11 Days | -4.0% |
Summary: Homes in Chatham had an average of 11 days on market in Oct 2024, down by 4% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Chatham are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 19 homes were sold in Chatham; 95% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
Listings courtesy of RMLS Alliance as distributed by MLS GRID.