Market Edge Report
Highland Park, IL
Single-Family Homes
BHHSChicago.com
Highland Park, IL
Mon Dec 11 2023
This week the median list price for Highland Park, IL is $1,296,950 with the market action index hovering around 36. This is less than last month's market action index of 37. Inventory has decreased to 38.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
Market conditions have been consistently cooling in the past several weeks. Because we’re still in the Seller’s zone, prices have not yet begun to drop. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect prices to fall if the index persistently falls to the Buyer’s zone.
Real-Time Market Profile
| Median List Price | $1,296,950 | |
| Median Price of New Listings | $475,000 | |
| Per Square Foot | $341 | |
| Average Days on Market | 239 | |
| Median Days on Market | 154 | |
| Price Decreased | 37% | |
| Price Increased | 5% | |
| Relisted | 18% | |
| Inventory | 38 | |
| Median Rent | ||
| Market Action | 36 | |
| Slight Seller's Advantage | ||
Price trends continued their recent uptrend this week. While still below the market’s price high-point, we’ve seen a nice run recently.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $2,800,000 | 6,890 | 0.5 - 1 acre | 5 | 6 | 28 | 0 | 1 | 245 |
| $1,499,000 | 4,137 | 0.5 - 1 acre | 4 | 4.5 | 15 | 0 | 0 | 154 |
| $1,149,500 | 3,260 | 0.25 - 0.5 acre | 4 | 3.5 | 18 | 0 | 1 | 154 |
| $632,500 | 2,483 | 0.25 - 0.5 acre | 3 | 2.5 | 68 | 1 | 2 | 108 |