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 October 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

$688,750

$275/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$40,083(+6.2%)

Key Takeaway

Homes in Highland Park have sold for 6.2% more than they did a year ago.

Summary: The median home sold price in Highland Park was $688,750 in October 2024, up 6.2% from last year, and the median price per square foot was $275.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $385K$209K
-45.7%
2 $389K$382.5K
-1.7%
3 $488.7K$540K
+10.5%
4 $734.5K$779K
+6.1%
5+ $1.1M$1.2M
+13.6%

Summary: Highland Park housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 45.7%, 2 bedroom homes decreased by 1.7%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 6.1%, and 5+ bedroom homes increased by 13.6%.

Median Sold Price Compared To Nearby Cities

West Deerfield Township
+7.1%
Deerfield
+6.7%
Highland Park
+6.2%
Moraine Township
+4.5%

Housing Supply in Highland Park, IL

How many homes are available in Highland Park, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
116142+22.4%

Summary: The Highland Park real estate market had 142 homes for sale in October 2024, a 22.4% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 1716
-5.9%
3 3346
+39.4%
4 3948
+23.1%
5+ 2732
+18.5%

Summary: The Highland Park 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 decreased by 5.9%, 3 bedroom homes increased by 39.4%, 4 bedroom homes increased by 23.1%, and 5+ bedroom homes increased by 18.5%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2830+7.1%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

16 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Highland Park, you could pay more than the asking price. 53.3% of homes here sold above asking price last month.

Summary: A total of 30 homes were sold or pending in Highland Park in October 2024, up by 7.1% month-over-month. Of the 30 sold homes, 43% were sold under asking, 3% were sold at asking, and 53% 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

Oct 2023Oct 2024CHANGE
43 Days24 Days-44.6%

Summary: Homes in Highland Park had an average of 24 days on market in Oct 2024, down by 44.6% compared to last year.

Breakdown of Home Sale Times

26 Homes Were Sold
Under 30 Days

2 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 October 2024, 30 homes were sold in Highland Park; 87% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 7% 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 20 Days Ago

Newest Listings in Highland Park, IL

Nearby Markets to Highland Park, IL

What housing markets are near Highland Park, IL?