Is Highland Park, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Highland Park is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Highland Park, IL

How much do homes in Highland Park, IL cost?

Median Sold Price

$700,000

$276/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$50,000(+7.7%)

Key Takeaway

Homes in Highland Park have sold for 7.7% more than they did a year ago.

Summary: The median home sold price in Highland Park was $700,000 in November 2024, up 7.7% from last year, and the median price per square foot was $276.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $325K$209K
-35.7%
2 $425K$375K
-11.8%
3 $500K$545K
+9.0%
4 $730K$801K
+9.7%
5+ $1.1M$1.2M
+8.6%

Summary: Highland Park housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 35.7%, 2 bedroom homes decreased by 11.8%, 3 bedroom homes increased by 9%, 4 bedroom homes increased by 9.7%, and 5+ bedroom homes increased by 8.6%.

Median Sold Price Compared To Nearby Cities

Deerfield
+11.5%
West Deerfield Township
+7.8%
Highland Park
+7.7%
Moraine Township
+3.5%

Housing Supply in Highland Park, IL

How many homes are available in Highland Park, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
136135-0.7%

Summary: The Highland Park real estate market had 135 homes for sale in November 2024, a 0.7% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 1616
0.0%
3 4546
+2.2%
4 4545
0.0%
5+ 3028
-6.7%

Summary: The Highland Park 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 remained the same, 3 bedroom homes increased by 2.2%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 6.7%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
3035+16.7%

Asking Price vs. Sold Price

19 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

11 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Highland Park, you may be able to get a good deal. 54.3% of homes here sold below asking price last month.

Summary: A total of 35 homes were sold or pending in Highland Park in November 2024, up by 16.7% month-over-month. Of the 35 sold homes, 54% were sold under asking, 14% were sold at asking, and 31% were sold over asking.

Days on Market for Highland Park, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
52 Days25 Days-51.4%

Summary: Homes in Highland Park had an average of 25 days on market in Nov 2024, down by 51.4% compared to last year.

Breakdown of Home Sale Times

27 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 35 homes were sold in Highland Park; 77% of homes were sold within 30 days, 17% 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 21 Days Ago

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