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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Harvey is a buyer's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Harvey, IL

How much do homes in Harvey, IL cost?

Median Sold Price

$127,450

$100/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$8,450(+7.1%)

Key Takeaway

Homes in Harvey have sold for 7.1% more than they did a year ago.

Summary: The median home sold price in Harvey was $127,450 in October 2024, up 7.1% from last year, and the median price per square foot was $100.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 -$33K
N/A
2 $65.4K$104K
+58.9%
3 $120K$125K
+4.2%
4 $141.3K$105K
-25.7%
5+ $132.5K$192.5K
+45.3%

Summary: Harvey housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 58.9%, 3 bedroom homes increased by 4.2%, 4 bedroom homes decreased by 25.7%, and 5+ bedroom homes increased by 45.3%.

Median Sold Price Compared To Nearby Cities

Markham
+16.4%
Thornton Township
+9.6%
Harvey
+7.1%
Phoenix
+1.4%

Housing Supply in Harvey, IL

How many homes are available in Harvey, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
98123+25.5%

Summary: The Harvey real estate market had 123 homes for sale in October 2024, a 25.5% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 913
+44.4%
3 5976
+28.8%
4 1821
+16.7%
5+ 1112
+9.1%

Summary: The Harvey 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 44.4%, 3 bedroom homes increased by 28.8%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 9.1%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1512-20.0%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

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

Summary: A total of 12 homes were sold or pending in Harvey in October 2024, down by 20.0% month-over-month. Of the 12 sold homes, 50% were sold under asking, 8% were sold at asking, and 42% were sold over asking.

Days on Market for Harvey, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
51 Days34 Days-32.9%

Summary: Homes in Harvey had an average of 34 days on market in Oct 2024, down by 32.9% compared to last year.

Breakdown of Home Sale Times

6 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 Harvey are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 12 homes were sold in Harvey; 50% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 8% 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 16 Days Ago

Newest Listings in Harvey, IL

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