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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Steger is a buyer's market

Buyer's
Market

Difference Since April 2023

At the same time last year, Steger was a Seller's Market.

Key Takeaway

Steger is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Steger, IL

How much do homes in Steger, IL cost?

Median Sold Price

$163,750

$124/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$11,750(+7.7%)

Key Takeaway

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

Summary: The median home sold price in Steger was $163,750 in April 2024, up 7.7% from last year, and the median price per square foot was $124.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $48.7K-
N/A
2 $110K$118.5K
+7.7%
3 $152K$158.8K
+4.5%
4 $161.5K$186.2K
+15.3%
5+ $197.5K$166.2K
-15.8%

Summary: Steger housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 15.3%, and 5+ bedroom homes decreased by 15.8%.

Median Sold Price Compared To Nearby Cities

Crete Township
+16.7%
Crete
+10.2%
Steger
+7.7%
Sauk Village
+3.4%
South Chicago Heights
-9.2%

Housing Supply in Steger, IL

How many homes are available in Steger, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
3740+8.1%

Summary: The Steger real estate market had 40 homes for sale in April 2024, a 8.1% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 11
0.0%
2 99
0.0%
3 1719
+11.8%
4 57
+40.0%
5+ 54
-20.0%

Summary: The Steger housing inventory by bedroom type for April 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 11.8%, 4 bedroom homes increased by 40%, and 5+ bedroom homes decreased by 20%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
65-16.7%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Steger, you may be able to get a good deal. 40% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in Steger in April 2024, down by 16.7% month-over-month. Of the 5 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.

Days on Market for Steger, IL

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

Average Sale Time

Apr 2023Apr 2024CHANGE
49 Days106 Days+112.9%

Summary: Homes in Steger had an average of 106 days on market in Apr 2024, up by 112.9% compared to last year.

Breakdown of Home Sale Times

1 Home Was 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

Avg time on Rocket Homes in Steger has remained consistent over time.

Summary: During April 2024, 5 homes were sold in Steger; 20% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 40% 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 14 Days Ago

Newest Listings in Steger, IL

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