Hammond, IL Foreclosures
How much do homes sell for in Hammond, IL?
The average home price is currently $196,196.
In Hammond, IL, how many homes are available?
There are currently 3 active home listings available in Hammond.
What’s the average rental cost in Hammond, IL?
The average rental price in Hammond is $1,139.
What is the most expensive home in Hammond?
The most expensive home sold in Hammond had a price of $4,503,962.
What is currently the cheapest priced home in Hammond, IL?
The cheapest home for sale in Hammond is priced at $32,016.
Living in Hammond, IL
Hammond, IL is a dynamic city just outside Chicago that boasts a unique blend of urban excitement and suburban tranquility. With its diverse community, excellent transportation connections, and various outdoor activities, it's an excellent choice for families and individuals alike. Residents enjoy easy access to amenities, cultural attractions, and recreational opportunities in this welcoming Illinois town.
Current Market Conditions in Hammond, IL
Hammond's real estate market has shown steady growth over the past year, with an increasing number of buyers looking for affordable options close to Chicago. Inventory levels have slightly decreased, creating a seller’s market where homes are selling faster, often above the asking price. The demand for single-family homes has risen significantly, reflecting the area's strong appeal to families and first-time buyers.
Rental properties are in demand as well, driven by the growing population and the influx of workers commuting to Chicago. Investors are seeing opportunities in the local market, with rental yields showing promise, further contributing to the health of the real estate sector in Hammond.
Home Value Estimator For Hammond, IL
There are currently 441 real estate properties
in Hammond, IL,
with a median automated valuation model (AVM) price
of $151,840.00. What is an AVM? It is
a smart computer program that analyzes and predicts the approximate value of a home,
property or land in Hammond, IL, based on current market
trends, comparable real
estate sales nearby, historical data and, of course, property features, among other
variables. These automated home estimates are often very helpful, providing buyers
and
sellers with a better idea of a home’s value ahead of the negotiation process. For
example,
the average home price in Hammond, IL,
is $196,196.00, with the most expensive house
in Hammond, IL, topping out
at $4,503,962.00 and the cheapest home
in Hammond, IL,
clocking in at $32,016.00. In other words, there’s
something for every potential homebuyer
or savvy investor in Hammond, IL!
Rent Prices
In Hammond, IL
With the expiration of certain local, state and federal housing-related restrictions
and
mandated programs, the rental market in Hammond, IL, is on
a rollercoaster ride. The
average rent price in Hammond, IL,
is $1,139.00. Indeed, when looking to rent in
Hammond, IL, you can expect to pay as little
as $490.00 or as much
as $1,980.00,
with the average rent median estimated to
be $1,140.00. The good news is that finding
an affordable and desirable property to rent in Hammond, IL
-- whether it’s apartments,
townhomes, condominiums or single-family homes -- is made easier with knowledge of
the
local market and, of course, a little patience.
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