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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Markham is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Markham, IL

How much do homes in Markham, IL cost?

Median Sold Price

$163,000

$124/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$23,000(+16.4%)

Key Takeaway

Homes in Markham have sold for 16.4% more than they did a year ago.

Summary: The median home sold price in Markham was $163,000 in May 2024, up 16.4% from last year, and the median price per square foot was $124.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 $86.5K$137.5K
+59.0%
3 $129K$150K
+16.3%
4 $167K$179.3K
+7.4%
5+ $169K$188.7K
+11.7%

Summary: Markham housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 59%, 3 bedroom homes increased by 16.3%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes increased by 11.7%.

Median Sold Price Compared To Nearby Cities

Markham
+16.4%
Hazel Crest
+16.1%
Posen
+5.1%
Bremen Township
+4.8%
Harvey
+4.4%

Housing Supply in Markham, IL

How many homes are available in Markham, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
7268-5.6%

Summary: The Markham real estate market had 68 homes for sale in May 2024, a 5.6% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 12
+100.0%
3 5045
-10.0%
4 1615
-6.3%
5+ 56
+20.0%

Summary: The Markham housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 10%, 4 bedroom homes decreased by 6.3%, and 5+ bedroom homes increased by 20%.

Number of Homes Sold

Apr 2024May 2024CHANGE
1413-7.1%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Markham, you could pay more than the asking price. 53.8% of homes here sold above asking price last month.

Summary: A total of 13 homes were sold or pending in Markham in May 2024, down by 7.1% month-over-month. Of the 13 sold homes, 15% were sold under asking, 31% were sold at asking, and 54% were sold over asking.

Days on Market for Markham, IL

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

Average Sale Time

May 2023May 2024CHANGE
58 Days26 Days-54.5%

Summary: Homes in Markham had an average of 26 days on market in May 2024, down by 54.5% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 13 homes were sold in Markham; 69% of homes were sold within 30 days, 31% 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 4 Days Ago

Newest Listings in Markham, IL

Nearby Markets to Markham, IL

What housing markets are near Markham, IL?