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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Chatham is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, Chatham was a Neutral Market.

Key Takeaway

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

Housing Prices in Chatham, IL

How much do homes in Chatham, IL cost?

Median Sold Price

$212,000

$118/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$19,250(+10.0%)

Key Takeaway

Homes in Chatham have sold for 10% more than they did a year ago.

Summary: The median home sold price in Chatham was $212,000 in October 2024, up 10% from last year, and the median price per square foot was $118.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $47.5K$51.5K
+8.4%
2 $76.5K$83.5K
+9.2%
3 $185K$195K
+5.4%
4 $218K$220K
+0.9%
5+ $312.5K$309K
-1.1%

Summary: Chatham housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.4%, 2 bedroom homes increased by 9.2%, 3 bedroom homes increased by 5.4%, 4 bedroom homes increased by 0.9%, and 5+ bedroom homes decreased by 1.1%.

Median Sold Price Compared To Nearby Neighborhoods

Burnside
+60.9%
West Chesterfield
+20.3%
Chatham
+10.0%
Auburn Gresham
+1.3%

Housing Supply in Chatham, IL

How many homes are available in Chatham, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
123151+22.8%

Summary: The Chatham real estate market had 151 homes for sale in October 2024, a 22.8% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 22
0.0%
2 2128
+33.3%
3 4157
+39.0%
4 2826
-7.1%
5+ 3138
+22.6%

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 increased by 33.3%, 3 bedroom homes increased by 39%, 4 bedroom homes decreased by 7.1%, and 5+ bedroom homes increased by 22.6%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
18180.0%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Chatham, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.

Summary: A total of 18 homes were sold or pending in Chatham in October 2024, the same as the previous month. Of the 18 sold homes, 56% were sold under asking, 17% were sold at asking, and 28% 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 2023Oct 2024CHANGE
102 Days36 Days-64.6%

Summary: Homes in Chatham had an average of 36 days on market in Oct 2024, down by 64.6% compared to last year.

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 18 homes were sold in Chatham; 61% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 6% 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 Chatham, IL

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