Is Chicago Heights, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Chicago Heights is a buyer's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Chicago Heights, IL

How much do homes in Chicago Heights, IL cost?

Median Sold Price

$184,966

$134/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$1,266(+0.7%)

Key Takeaway

Homes in Chicago Heights have sold for 0.7% more than they did a year ago.

Summary: The median home sold price in Chicago Heights was $184,966 in November 2024, up 0.7% from last year, and the median price per square foot was $134.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $74.2K-
N/A
2 $152.5K$130.9K
-14.1%
3 $182.5K$178.5K
-2.2%
4 $207.5K$216.5K
+4.3%
5+ $195K$215K
+10.3%

Summary: Chicago Heights 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 decreased by 14.1%, 3 bedroom homes decreased by 2.2%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes increased by 10.3%.

Median Sold Price Compared To Nearby Cities

Olympia Fields
+7.5%
Glenwood
+2.7%
Bloom Township
+2.4%
Chicago Heights
+0.7%

Housing Supply in Chicago Heights, IL

How many homes are available in Chicago Heights, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
124145+16.9%

Summary: The Chicago Heights real estate market had 145 homes for sale in November 2024, a 16.9% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 815
+87.5%
3 6079
+31.7%
4 3431
-8.8%
5+ 2220
-9.1%

Summary: The Chicago Heights 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 87.5%, 3 bedroom homes increased by 31.7%, 4 bedroom homes decreased by 8.8%, and 5+ bedroom homes decreased by 9.1%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
2114-33.3%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Chicago Heights, you could pay more than the asking price. 42.9% of homes here sold above asking price last month.

Summary: A total of 14 homes were sold or pending in Chicago Heights in November 2024, down by 33.3% month-over-month. Of the 14 sold homes, 36% were sold under asking, 21% were sold at asking, and 43% were sold over asking.

Days on Market for Chicago Heights, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
27 Days40 Days+46.3%

Summary: Homes in Chicago Heights had an average of 40 days on market in Nov 2024, up by 46.3% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 14 homes were sold in Chicago Heights; 57% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 14% 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 22 Days Ago

Newest Listings in Chicago Heights, IL

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