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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Highland Park is a seller's market

Buyer's
Market

Difference Since April 2023

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

Key Takeaway

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

Housing Prices in Highland Park, IL

How much do homes in Highland Park, IL cost?

Median Sold Price

$667,000

$258/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$29,312(+4.6%)

Key Takeaway

Homes in Highland Park have sold for 4.6% more than they did a year ago.

Summary: The median home sold price in Highland Park was $667,000 in April 2024, up 4.6% from last year, and the median price per square foot was $258.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $165K$209K
+26.7%
2 $380K$407.6K
+7.3%
3 $505K$518K
+2.6%
4 $739K$739.5K
0.1%
5+ $1.0M$1.1M
+13.3%

Summary: Highland Park housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 26.7%, 2 bedroom homes increased by 7.3%, 3 bedroom homes increased by 2.6%, 4 bedroom homes increased by 0.1%, and 5+ bedroom homes increased by 13.3%.

Median Sold Price Compared To Nearby Cities

Highwood
+17.8%
West Deerfield Township
+11.7%
Moraine Township
+7.8%
Highland Park
+4.6%
Deerfield
+2.2%

Housing Supply in Highland Park, IL

How many homes are available in Highland Park, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
120139+15.8%

Summary: The Highland Park real estate market had 139 homes for sale in April 2024, a 15.8% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 1416
+14.3%
3 3942
+7.7%
4 4351
+18.6%
5+ 2430
+25.0%

Summary: The Highland Park 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 increased by 14.3%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 18.6%, and 5+ bedroom homes increased by 25%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
2835+25.0%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

23 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Highland Park, you could pay more than the asking price. 65.7% of homes here sold above asking price last month.

Summary: A total of 35 homes were sold or pending in Highland Park in April 2024, up by 25.0% month-over-month. Of the 35 sold homes, 26% were sold under asking, 9% were sold at asking, and 66% were sold over asking.

Days on Market for Highland Park, IL

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

Average Sale Time

Apr 2023Apr 2024CHANGE
36 Days29 Days-18.6%

Summary: Homes in Highland Park had an average of 29 days on market in Apr 2024, down by 18.6% compared to last year.

Breakdown of Home Sale Times

30 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During April 2024, 35 homes were sold in Highland Park; 86% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 9% 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 22 Days Ago

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