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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Merrionette Park is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Merrionette Park, IL

How much do homes in Merrionette Park, IL cost?

Median Sold Price

$208,750

$185/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$3,750(+1.8%)

Key Takeaway

Homes in Merrionette Park have sold for 1.8% more than they did a year ago.

Summary: The median home sold price in Merrionette Park was $208,750 in November 2024, up 1.8% from last year, and the median price per square foot was $185.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 -$71K
N/A
2 $202K$170K
-15.8%
3 $210K$230K
+9.5%
4 -$235K
N/A
5+ $168K-
N/A

Summary: Merrionette Park 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 decreased by 15.8%, 3 bedroom homes increased by 9.5%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Worth Township
+9.4%
Chicago
+7.1%
Merrionette Park
+1.8%

Housing Supply in Merrionette Park, IL

How many homes are available in Merrionette Park, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
550.0%

Summary: The Merrionette Park real estate market had 5 homes for sale in November 2024, the same as October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 33
0.0%
3 22
0.0%
4 00
0.0%
5+ 00
0.0%

Summary: The Merrionette 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 remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
04+100.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Merrionette Park, you could pay more than the asking price. 75% of homes here sold above asking price last month.

Summary: A total of 4 homes were sold or pending in Merrionette Park in November 2024, up by 100.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 0% were sold at asking, and 75% were sold over asking.

Days on Market for Merrionette Park, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
4 Days19 Days+375.0%

Summary: Homes in Merrionette Park had an average of 19 days on market in Nov 2024, up by 375% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 4 homes were sold in Merrionette Park; 75% of homes were sold within 30 days, 25% 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 20 Days Ago

Newest Listings in Merrionette Park, IL

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What housing markets are near Merrionette Park, IL?