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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Crete is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, Crete has remained a Seller's Market.

Key Takeaway

Crete is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Crete, IL

How much do homes in Crete, IL cost?

Median Sold Price

$275,000

$132/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$15,000(+5.8%)

Key Takeaway

Homes in Crete have sold for 5.8% more than they did a year ago.

Summary: The median home sold price in Crete was $275,000 in November 2024, up 5.8% from last year, and the median price per square foot was $132.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $110K-
N/A
2 $165K$187K
+13.3%
3 $255K$258.4K
+1.3%
4 $295K$333.7K
+13.1%
5+ $386.9K$350K
-9.5%

Summary: Crete 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 increased by 13.3%, 3 bedroom homes increased by 1.3%, 4 bedroom homes increased by 13.1%, and 5+ bedroom homes decreased by 9.5%.

Median Sold Price Compared To Nearby Cities

Crete Township
+13.3%
Steger
+9.7%
Sauk Village
+6.9%
Crete
+5.8%
University Park
+5.4%

Housing Supply in Crete, IL

How many homes are available in Crete, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
109105-3.7%

Summary: The Crete real estate market had 105 homes for sale in November 2024, a 3.7% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 01
+100.0%
2 108
-20.0%
3 5655
-1.8%
4 3634
-5.6%
5+ 77
0.0%

Summary: The Crete housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 20%, 3 bedroom homes decreased by 1.8%, 4 bedroom homes decreased by 5.6%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
2420-16.7%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Crete, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 20 homes were sold or pending in Crete in November 2024, down by 16.7% month-over-month. Of the 20 sold homes, 50% were sold under asking, 15% were sold at asking, and 35% 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

Nov 2023Nov 2024CHANGE
43 Days21 Days-49.2%

Summary: Homes in Crete had an average of 21 days on market in Nov 2024, down by 49.2% compared to last year.

Breakdown of Home Sale Times

15 Homes Were Sold
Under 30 Days

4 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 November 2024, 20 homes were sold in Crete; 75% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 5% 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 2 Days Ago

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