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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Crete is a neutral's market

Buyer's
Market

Difference Since September 2023

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

Key Takeaway

Crete is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Crete, IL

How much do homes in Crete, IL cost?

Median Sold Price

$275,000

$131/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$8,500(+3.2%)

Key Takeaway

Homes in Crete have sold for 3.2% more than they did a year ago.

Summary: The median home sold price in Crete was $275,000 in September 2024, up 3.2% from last year, and the median price per square foot was $131.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $110K-
N/A
2 $165K$175.5K
+6.4%
3 $259.9K$264K
+1.6%
4 $315K$321.2K
+2.0%
5+ $364.9K$350K
-4.1%

Summary: Crete housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 6.4%, 3 bedroom homes increased by 1.6%, 4 bedroom homes increased by 2%, and 5+ bedroom homes decreased by 4.1%.

Median Sold Price Compared To Nearby Cities

Crete Township
+16.2%
Steger
+9.7%
University Park
+8.8%
Crete
+3.2%
Sauk Village
0.3%

Housing Supply in Crete, IL

How many homes are available in Crete, IL?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
103112+8.7%

Summary: The Crete real estate market had 112 homes for sale in September 2024, a 8.7% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 1111
0.0%
3 5258
+11.5%
4 3234
+6.3%
5+ 89
+12.5%

Summary: The Crete housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 11.5%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes increased by 12.5%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
2318-21.7%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Crete, you could pay more than the asking price. 55.6% of homes here sold above asking price last month.

Summary: A total of 18 homes were sold or pending in Crete in September 2024, down by 21.7% month-over-month. Of the 18 sold homes, 33% were sold under asking, 11% were sold at asking, and 56% were sold over asking.

Days on Market for Crete, IL

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

Average Sale Time

Sep 2023Sep 2024CHANGE
51 Days26 Days-48.6%

Summary: Homes in Crete had an average of 26 days on market in Sep 2024, down by 48.6% compared to last year.

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During September 2024, 18 homes were sold in Crete; 67% of homes were sold within 30 days, 28% 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 29 Days Ago

Newest Listings in Crete, IL

Nearby Markets to Crete, IL

What housing markets are near Crete, IL?