Is South 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, South Side was a Seller's Market.
Housing Prices in South Side, IL
How much do homes in South Side, IL cost?
Median Sold Price
$264,909
$159/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in South Side was $264,909 in May 2024, up 0.1% from last year, and the median price per square foot was $159.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $120K | $120K | 0.0% |
2 Bedrooms | $188.3K | $185K | -1.8% |
3 Bedrooms | $291.5K | $290.7K | -0.3% |
4 Bedrooms | $349.6K | $362K | +3.5% |
5+ Bedrooms | $395K | $389K | -1.5% |
Summary: South Side housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 1.8%, 3 bedroom homes decreased by 0.3%, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes decreased by 1.5%.
Housing Supply in South Side, IL
How many homes are available in South Side, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
873 | 1,024 | +17.3% |
Summary: The South Side real estate market had 1,024 homes for sale in May 2024, a 17.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 76 | 68 | -10.5% |
2 Bedrooms | 171 | 201 | +17.5% |
3 Bedrooms | 261 | 310 | +18.8% |
4 Bedrooms | 141 | 168 | +19.1% |
5+ Bedrooms | 224 | 277 | +23.7% |
Summary: The South Side housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 10.5%, 2 bedroom homes increased by 17.5%, 3 bedroom homes increased by 18.8%, 4 bedroom homes increased by 19.1%, and 5+ bedroom homes increased by 23.7%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
136 | 141 | +3.7% |
Asking Price vs. Sold Price
84 Homes Were Sold
Under Asking
22 Homes Were Sold
At Asking
35 Homes Were Sold
Over Asking
Summary: A total of 141 homes were sold or pending in South Side in May 2024, up by 3.7% month-over-month. Of the 141 sold homes, 60% were sold under asking, 16% were sold at asking, and 25% were sold over asking.
Days on Market for South Side, IL
How long does it take to sell a home in South Side, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
64 Days | 38 Days | -41.3% |
Summary: Homes in South Side had an average of 38 days on market in May 2024, down by 41.3% compared to last year.
Breakdown of Home Sale Times
93 Homes Were Sold
Under 30 Days
27 Homes Were Sold
In 30 - 90 Days
21 Homes Were Sold
Over 90 Days
Summary: During May 2024, 141 homes were sold in South Side; 66% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.