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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Hermosa is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Hermosa, IL

How much do homes in Hermosa, IL cost?

Median Sold Price

$397,500

$213/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$26,500(+7.1%)

Key Takeaway

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

Summary: The median home sold price in Hermosa was $397,500 in November 2024, up 7.1% from last year, and the median price per square foot was $213.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $180K-
N/A
2 $317K$370K
+16.7%
3 $355K$359.9K
+1.4%
4 $371K$380K
+2.4%
5+ $425K$470K
+10.6%

Summary: Hermosa 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 16.7%, 3 bedroom homes increased by 1.4%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes increased by 10.6%.

Median Sold Price Compared To Nearby Neighborhoods

Hermosa
+7.1%
Logan Square
+0.9%

Housing Supply in Hermosa, IL

How many homes are available in Hermosa, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
4044+10.0%

Summary: The Hermosa real estate market had 44 homes for sale in November 2024, a 10.0% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 56
+20.0%
3 109
-10.0%
4 914
+55.6%
5+ 1615
-6.3%

Summary: The Hermosa 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 20%, 3 bedroom homes decreased by 10%, 4 bedroom homes increased by 55.6%, and 5+ bedroom homes decreased by 6.3%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
711+57.1%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

4 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Hermosa, you could pay more than the asking price. 54.5% of homes here sold above asking price last month.

Summary: A total of 11 homes were sold or pending in Hermosa in November 2024, up by 57.1% month-over-month. Of the 11 sold homes, 9% were sold under asking, 36% were sold at asking, and 55% were sold over asking.

Days on Market for Hermosa, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
17 Days14 Days-15.9%

Summary: Homes in Hermosa had an average of 14 days on market in Nov 2024, down by 15.9% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 11 homes were sold in Hermosa; 82% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 0% 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 21 Days Ago

Newest Listings in Hermosa, IL

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