Photo: Dennisyerger84 · CC BY-SA 3.0257 homes sold in Homewood in the last year, at a typical $250K
About one sale in 6 is a condo. Below: what each kind of home sells for, what your budget buys, the best months to buy, how hard you’ll have to bid, and a shortcut to every site where Homewood homes are listed.
Every place Homewood homes are listed, in one stop
We don’t copy listings: the agents’ sites have the photos and the latest price changes. Set what you want once and we open each site already filtered to Homewood.
For sale
Rent
New, land & open houses
Links open the listing sites; TownRatings isn’t paid for them and doesn’t rank one above another. Rentals and government-owned homes come from sources outside the MLS.
18% of Homewood’s sales are condos, at $133K less than a house
209 houses and 45 condos sold in the year to May 2026. Houses sell faster and draw more bidding wars.
typical sale · 209 sold in 12 months
- Per square foot
- $171IL $180
- Days to sell
- 63
- Sold over asking
- 42%
- Listings with a price cut
- 25%
typical sale · 45 sold in 12 months
- Per square foot
- $142IL $251
- Days to sell
- 91
- Sold over asking
- 22%
- Listings with a price cut
- 26%
Multi-family (2–4 units): 2 sold, typical $298K
Townhouses: 1 sold, typical $211K
Too few sales in 12 months for reliable figures.
Fewer homes sell than before 2022, at twice the 2016 price
257 sales in the last year, against 447 in 2021 and a low of 234 in 2012. The typical sale went from $129K in 2016 to $250K.
Source: Redfin Data Center, MLS sales. Typical price and $/sq ft are the monthly medians, weighted by sales.
What $250K buys in Homewood
Check a listing against what Homewood homes sold for
Against the town’s median price per square foot over the last 12 months. A rough check: condition, lot and location within town move a price more than this can see.
Bidding wars in Homewood are more common than before the pandemic, with about as many homes for sale
We read every month of Homewood’s home sales since 2012 so you don’t have to. Each figure covers 12 months, because a single month in a town is too few sales to mean much. Latest: the year to May 2026, 257 sales.
If you’re buying in Homewood
- Shop in March. It brings about 38 new listings a month, close to the busiest month, with fewer bidding wars (28% over asking).
- Some room to negotiate. 25% of listings cut their price, about as many as before the pandemic.
- Bid near asking. Buyers paid 99.2% of the list price on average; 39% paid over.
- You’ll usually have time. Only 31% of homes go under contract within two weeks; the typical one takes 64 days.
Summer brings the homes; spring brings the bidding wars
June has the most new listings (about 44 a month), but May is the most competitive: 44% of May sales close over asking. March offers nearly as much choice with fewer homes bid up (28%). January has the least competition (20%) but only about 25 new listings.
Averages for each calendar month, 2015 on.
Calmer than the 2021 frenzy, and about like Illinois as a whole
| Homewood now | 2017–19 | 2021 peak | IL now | |
|---|---|---|---|---|
| Sold over askingShare of sales that closed above the list price | 39% | 29% | 58% | 37% |
| Gone within two weeksShare of homes under contract within 14 days | 31% | 31% | 60% | 46% |
| Listings with a price cutShare of homes for sale that cut their price | 25% | 23% | 16% | 19% |
| Price paid vs. askingAverage sale price ÷ list price | 99.2% | 96.9% | 101.4% | 99.2% |
| Days to sellMedian days from listing to contract | 64 | 68 | 11 | 49 |
105 homes for sale on a typical day
That’s 2.4 times the 2021 low (44), about the 2017–19 level and well under 2012’s 166.
1 in 4 listings has cut its price
25% in the last year, against 23% in 2017–19 and 19% across Illinois.
Since 2019, houses are up 52%, condos 97%
A house typically sold for $269K in the last year (209 sales), a condo for $136K (45).
Median sale price, weighted by sales each month. Years with fewer than 4 sales of a type are left out.
Homewood ranks 150th of 324 busy Illinois markets for bidding wars
Share of sales over asking in the last year, among towns with 60 or more sales. Homewood is in the middle of the pack.
Source: Redfin Data Center, city market tracker, January 2012 to May 2026 (MLS sales, not seasonally adjusted). Ratios are weighted by homes sold; price cuts by homes for sale.
Owning the typical Homewood home costs about $1,863 a month
Price: Homewood’s typical sale, last 12 months. Property tax at Homewood’s 2.7% (median bill ÷ median value, Census ACS); insurance at 0.35% of price a year. Before PMI, HOA dues, upkeep and the tax deduction. Whether Homewood is affordable on local pay is on Cost of living.
Six things worth knowing
New listings in June
The month with the most choice. December has the fewest, about 19.
Best time to buyProperty tax, a year
Of a home’s value: the median bill over the median home value. On a $250K home, about $6,710 a year.
Taxes vs. neighborsSchools
The schools grade for Homewood, from test results, graduation and how much students grow.
Schools in HomewoodTypical commute
The average one-way trip to work for people who live in Homewood.
Work & commuteCheck the flood map
Flood insurance isn’t in a standard policy, and lenders require it in FEMA flood zones. Check the address before you make an offer.
Natural hazardsLook up any property
Assessed value, lot size and every past sale of a home you’re eyeing are public, at the town or county assessor and the registry of deeds.
East Hazel Crest, Hazel Crest, Flossmoor, Glenwood, Olympia Fields and Markham sell for less a square foot
The busier markets within 25 miles of Homewood, by what sold. Prices, taxes and how far a paycheck goes next door are on Cost of living.
| Sold | Typical sale | $/sq ft | Over asking | Days to sell | |
|---|---|---|---|---|---|
| Homewood | 257 | $250K | $164 | 39% | 64 |
| Hazel Crest | 190 | $187K | $130 | 35% | 87 |
| Markham | 183 | $166K | $139 | 50% | 84 |
| Flossmoor | 128 | $327K | $151 | 37% | 74 |
| Glenwood | 104 | $212K | $144 | 31% | 84 |
| Olympia Fields | 49 | $412K | $136 | 24% | 79 |
| East Hazel Crest | 21 | $193K | $126 | 38% | 106 |
Redfin Data Center, June 2025 to May 2026. Towns with fewer than 20 sales are left out, and Redfin doesn’t report every town separately.
Post your home to Homewood, free
Selling it yourself, renting out an apartment or looking for a roommate? Post it to Homewood. People who follow the town see it, and so do people comparing Homewood with their own town. No commission, no listing fee.
Questions about buying a home in Homewood
What do homes sell for in Homewood, IL?
257 homes sold in the year to May 2026 at a typical $250K, $164 a square foot. Houses sold for about $269K, condos for about $136K.
Is Homewood a buyer’s or seller’s market?
A balanced market: 112 homes were for sale in May 2026 and 25 sold, about 4.5 months of supply. Buyers paid 99.2% of asking on average, and 25% of listings cut their price.
When is the best time to buy in Homewood?
June brings the most new listings. The sales history shows which months have fewer bidding wars.
How much are property taxes in Homewood?
About 2.7% of a home’s value a year. On a $250K home that’s near $6,710.
Where can I see homes for sale in Homewood?
Zillow, Redfin, Realtor.com and Homes.com all carry Homewood’s MLS listings; the search links above open each one filtered to Homewood.
Sales, prices, days on market and listings: Redfin Data Center (MLS, monthly, not seasonally adjusted). Property tax rate: Census American Community Survey. Two-bedroom rent: HUD Fair Market Rent. Typical home value: Zillow Home Value Index. Schools grade: TownRatings (how grades work).