Inventory in Palos Heights has stayed fairly steady in this rolling three-month view, with about 108 active listings and only a small year-over-year increase. New listings are actually down compared with a year ago, while homes sold are up sharply, rising nearly 40 percent. Pending sales have also climbed year over year, suggesting more buyers are getting homes under contract even as fewer properties come to market.
With demand outpacing the flow of new listings, the supply of homes has tightened considerably. Months of supply has dropped compared with last year, reinforcing the current seller’s market conditions in the area.
Prices are moving in a nuanced way in response to these trends. The typical home value has dipped slightly year over year, yet median list prices are significantly higher than a year ago, indicating sellers are testing higher price points while buyers still negotiate. Homes are selling faster than last year, with the median days on market falling and more than 40 percent of sales closing above the asking price. The average sale-to-list price ratio is now just under 100 percent, so most sellers are achieving very close to their list price. Buyers trying to compete and sellers aiming to price correctly can both benefit from an expert local agent, and Agent Pronto can connect them with the right professional to navigate this market.
