Summit, IL, Real Estate
Summit, Illinois, is a small village in Cook County, located just southwest of Chicago, with a population of around 11,000 as of the 2020 census. Known for its industrial roots and diverse community, Summit is home to the Argo Corn Products plant, a major producer of corn-based products, which has long been a cornerstone of the local economy. The village offers a mix of residential and commercial areas, with easy access to Chicago via major highways and public transit, including the Metra commuter rail. Summit maintains a tight-knit, working-class vibe, with local parks, schools, and community events fostering a sense of pride among residents, many of whom value its affordability and proximity to urban amenities.
Summit currently has 15 single family homes for sale with an average list price of $294,106.67 and 3 lots for sale with an average list price of $35,666.67. The average annual property tax for Summit is $4,864.83.
Browse Summit
Using the absorption rate, we can determine how long it's taking for homes to sell and which price points are selling the fastest in Summit, i.e. what's hot and what's not.
See What's Hot & What's Not in Summit
Market Trends
Summit home sales for the month of November decreased in volume by 66.7% when compared to last year, while the median sale price rose by 36.4% from $176,000 to $240,000. House sales decreased by 50%, while the median sale price rose by 21.2% from $198,000 to $240,000.
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49
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44
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29
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26
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| 2021 | 2022 | 2023 | 2024 |
| # of sales per year | |||
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$229,000
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$229,950
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$239,900
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$258,000
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| 2021 | 2022 | 2023 | 2024 |
| median sale price per year | |||
Median Sale Price for Summit
Number of Sales for Summit
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