Is Homer Glen, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Homer Glen is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Homer Glen, IL

How much do homes in Homer Glen, IL cost?

Median Sold Price

$490,000

$188/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$35,000(+7.7%)

Key Takeaway

Homes in Homer Glen have sold for 7.7% more than they did a year ago.

Summary: The median home sold price in Homer Glen was $490,000 in October 2024, up 7.7% from last year, and the median price per square foot was $188.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 -$648.7K
N/A
2 $352.9K$332K
-5.9%
3 $420K$442K
+5.2%
4 $495K$510K
+3.0%
5+ $574.9K$658K
+14.5%

Summary: Homer Glen 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 decreased by 5.9%, 3 bedroom homes increased by 5.2%, 4 bedroom homes increased by 3%, and 5+ bedroom homes increased by 14.5%.

Median Sold Price Compared To Nearby Cities

Lemont
+14.3%
Homer Township
+8.4%
Homer Glen
+7.7%
Orland Park
+6.7%
Lockport
+6.6%

Housing Supply in Homer Glen, IL

How many homes are available in Homer Glen, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
101119+17.8%

Summary: The Homer Glen real estate market had 119 homes for sale in October 2024, a 17.8% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 108
-20.0%
3 2932
+10.3%
4 4051
+27.5%
5+ 2127
+28.6%

Summary: The Homer Glen 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 20%, 3 bedroom homes increased by 10.3%, 4 bedroom homes increased by 27.5%, and 5+ bedroom homes increased by 28.6%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2227+22.7%

Asking Price vs. Sold Price

19 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Homer Glen, you may be able to get a good deal. 70.4% of homes here sold below asking price last month.

Summary: A total of 27 homes were sold or pending in Homer Glen in October 2024, up by 22.7% month-over-month. Of the 27 sold homes, 70% were sold under asking, 7% were sold at asking, and 22% were sold over asking.

Days on Market for Homer Glen, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
18 Days33 Days+79.8%

Summary: Homes in Homer Glen had an average of 33 days on market in Oct 2024, up by 79.8% compared to last year.

Breakdown of Home Sale Times

20 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 27 homes were sold in Homer Glen; 74% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 4% 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 Homer Glen, IL

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What housing markets are near Homer Glen, IL?