Is Far Southeast Side, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Far Southeast Side was a Seller's Market.
Housing Prices in Far Southeast Side, IL
How much do homes in Far Southeast Side, IL cost?
Median Sold Price
$180,000
$119/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Far Southeast Side was $180,000 in May 2024, up 3.1% from last year, and the median price per square foot was $119.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $46K | $90K | +95.7% |
2 Bedrooms | $127.2K | $119.5K | -6.1% |
3 Bedrooms | $169.9K | $188.1K | +10.7% |
4 Bedrooms | $184.8K | $190K | +2.8% |
5+ Bedrooms | $235K | $235K | 0.0% |
Summary: Far Southeast Side housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 95.7%, 2 bedroom homes decreased by 6.1%, 3 bedroom homes increased by 10.7%, 4 bedroom homes increased by 2.8%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
Pullman | $154.6K | $199K | +28.7% |
Greater Chicago | $176K | $215K | +22.2% |
Far Southeast Side | $174.6K | $180K | +3.1% |
South Deering | $118.5K | $113K | -4.6% |
Housing Supply in Far Southeast Side, IL
How many homes are available in Far Southeast Side, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
838 | 984 | +17.4% |
Summary: The Far Southeast Side real estate market had 984 homes for sale in May 2024, a 17.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 6 | 7 | +16.7% |
2 Bedrooms | 117 | 137 | +17.1% |
3 Bedrooms | 355 | 409 | +15.2% |
4 Bedrooms | 188 | 228 | +21.3% |
5+ Bedrooms | 172 | 203 | +18.0% |
Summary: The Far Southeast Side housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.7%, 2 bedroom homes increased by 17.1%, 3 bedroom homes increased by 15.2%, 4 bedroom homes increased by 21.3%, and 5+ bedroom homes increased by 18%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
143 | 153 | +7.0% |
Asking Price vs. Sold Price
62 Homes Were Sold
Under Asking
26 Homes Were Sold
At Asking
65 Homes Were Sold
Over Asking
Summary: A total of 153 homes were sold or pending in Far Southeast Side in May 2024, up by 7.0% month-over-month. Of the 153 sold homes, 41% were sold under asking, 17% were sold at asking, and 42% were sold over asking.
Days on Market for Far Southeast Side, IL
How long does it take to sell a home in Far Southeast Side, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
50 Days | 47 Days | -5.4% |
Summary: Homes in Far Southeast Side had an average of 47 days on market in May 2024, down by 5.4% compared to last year.
Breakdown of Home Sale Times
91 Homes Were Sold
Under 30 Days
34 Homes Were Sold
In 30 - 90 Days
28 Homes Were Sold
Over 90 Days
Summary: During May 2024, 153 homes were sold in Far Southeast Side; 59% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.