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 December 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

$133/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$14,000(+5.4%)

Key Takeaway

Homes in Crete have sold for 5.4% more than they did a year ago.

Summary: The median home sold price in Crete was $275,000 in December 2024, up 5.4% from last year, and the median price per square foot was $133.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 $110K-
N/A
2 $167K$190K
+13.8%
3 $257.4K$259.2K
+0.7%
4 $295K$331.2K
+12.3%
5+ $392K$345K
-12.0%

Summary: Crete housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 13.8%, 3 bedroom homes increased by 0.7%, 4 bedroom homes increased by 12.3%, and 5+ bedroom homes decreased by 12%.

Median Sold Price Compared To Nearby Cities

Crete Township
+11.3%
Steger
+7.7%
Sauk Village
+6.7%
University Park
+5.7%
Crete
+5.4%

Housing Supply in Crete, IL

How many homes are available in Crete, IL?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
10396-6.8%

Summary: The Crete real estate market had 96 homes for sale in December 2024, a 6.8% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 10
-100.0%
2 86
-25.0%
3 5347
-11.3%
4 3434
0.0%
5+ 79
+28.6%

Summary: The Crete housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 25%, 3 bedroom homes decreased by 11.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 28.6%.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
20200.0%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

2 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. 55% of homes here sold below asking price last month.

Summary: A total of 20 homes were sold or pending in Crete in December 2024, the same as the previous month. Of the 20 sold homes, 55% were sold under asking, 10% 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

Dec 2023Dec 2024CHANGE
41 Days43 Days+5.2%

Summary: Homes in Crete had an average of 43 days on market in Dec 2024, up by 5.2% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

3 Homes Were 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 December 2024, 20 homes were sold in Crete; 45% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 15% 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 4 Days Ago

Newest Listings in Crete, IL

Nearby Markets to Crete, IL

What housing markets are near Crete, IL?