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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Steger is a neutral's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

Steger is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Steger, IL

How much do homes in Steger, IL cost?

Median Sold Price

$170,000

$131/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$15,000(+9.7%)

Key Takeaway

Homes in Steger have sold for 9.7% more than they did a year ago.

Summary: The median home sold price in Steger was $170,000 in November 2024, up 9.7% from last year, and the median price per square foot was $131.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $30K$127K
+323.3%
2 $123.7K$135K
+9.1%
3 $152K$180K
+18.4%
4 $175K$207.5K
+18.6%
5+ $162.5K$190.2K
+17.1%

Summary: Steger housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 323.3%, 2 bedroom homes increased by 9.1%, 3 bedroom homes increased by 18.4%, 4 bedroom homes increased by 18.6%, and 5+ bedroom homes increased by 17.1%.

Median Sold Price Compared To Nearby Cities

Crete Township
+13.3%
Steger
+9.7%
Sauk Village
+6.9%
Crete
+5.8%

Housing Supply in Steger, IL

How many homes are available in Steger, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
5651-8.9%

Summary: The Steger real estate market had 51 homes for sale in November 2024, a 8.9% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 119
-18.2%
3 2928
-3.4%
4 1311
-15.4%
5+ 33
0.0%

Summary: The Steger 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 decreased by 18.2%, 3 bedroom homes decreased by 3.4%, 4 bedroom homes decreased by 15.4%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
148-42.9%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Steger, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 8 homes were sold or pending in Steger in November 2024, down by 42.9% month-over-month. Of the 8 sold homes, 38% were sold under asking, 13% were sold at asking, and 50% 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

Nov 2023Nov 2024CHANGE
45 Days24 Days-46.1%

Summary: Homes in Steger had an average of 24 days on market in Nov 2024, down by 46.1% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 8 homes were sold in Steger; 63% of homes were sold within 30 days, 38% 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 Steger, IL

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