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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Deer Park is a buyer's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Deer Park, IL

How much do homes in Deer Park, IL cost?

Median Sold Price

$540,000

$187/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$15,000(-2.7%)

Key Takeaway

Homes in Deer Park have sold for 2.7% less than they did a year ago.

Summary: The median home sold price in Deer Park was $540,000 in May 2024, down 2.7% from last year, and the median price per square foot was $187.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 $247.3K$247.2K
0%
3 $505K$554K
+9.7%
4 $674.7K$625K
-7.4%
5+ $489K$874.9K
+78.9%

Summary: Deer Park 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 did not change, 3 bedroom homes increased by 9.7%, 4 bedroom homes decreased by 7.4%, and 5+ bedroom homes increased by 78.9%.

Median Sold Price Compared To Nearby Cities

Kildeer
+12.3%
Palatine
+11.0%
Lake Zurich
+9.7%
Ela Township
+5.5%
Deer Park
-2.7%

Housing Supply in Deer Park, IL

How many homes are available in Deer Park, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
513+160.0%

Summary: The Deer Park real estate market had 13 homes for sale in May 2024, a 160.0% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 00
0.0%
3 24
+100.0%
4 35
+66.7%
5+ 04
+100.0%

Summary: The Deer Park 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 remained the same, 3 bedroom homes increased by 100%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Apr 2024May 2024CHANGE
110.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Deer Park, you could pay more than the asking price. 100% of homes here sold above asking price last month.

Summary: A total of 1 homes were sold or pending in Deer Park in May 2024, the same as the previous month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.

Days on Market for Deer Park, IL

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

Average Sale Time

May 2023May 2024CHANGE
9 Days6 Days-36.8%

Summary: Homes in Deer Park had an average of 6 days on market in May 2024, down by 36.8% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 1 homes were sold in Deer Park; 100% of homes were sold within 30 days, 0% 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 2 Days Ago

Newest Listings in Deer Park, IL

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