Is Far North Side, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Far North Side is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, Far North Side has remained a Seller's Market.

Key Takeaway

Far North Side is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Far North Side, IL

How much do homes in Far North Side, IL cost?

Median Sold Price

$350,839

$236/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$20,630(+6.2%)

Key Takeaway

Homes in Far North Side have sold for 6.2% more than they did a year ago.

Summary: The median home sold price in Far North Side was $350,839 in April 2024, up 6.2% from last year, and the median price per square foot was $236.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $144.6K$154.4K
+6.8%
2 $260K$272.9K
+5.0%
3 $424.7K$439.8K
+3.6%
4 $550.3K$589.9K
+7.2%
5+ $622.9K$650.3K
+4.4%

Summary: Far North Side housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.8%, 2 bedroom homes increased by 5%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 7.2%, and 5+ bedroom homes increased by 4.4%.

Median Sold Price Compared To Nearby Neighborhoods

Sauganash
+18.6%
Far North Side
+6.2%
Crawford-Peterson
-2.5%

Housing Supply in Far North Side, IL

How many homes are available in Far North Side, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
1,1451,329+16.1%

Summary: The Far North Side real estate market had 1,329 homes for sale in April 2024, a 16.1% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 174193
+10.9%
2 398450
+13.1%
3 304363
+19.4%
4 139182
+30.9%
5+ 130141
+8.5%

Summary: The Far North Side housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 10.9%, 2 bedroom homes increased by 13.1%, 3 bedroom homes increased by 19.4%, 4 bedroom homes increased by 30.9%, and 5+ bedroom homes increased by 8.5%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
333368+10.5%

Asking Price vs. Sold Price

144 Homes Were Sold
Under Asking

56 Homes Were Sold
At Asking

168 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Far North Side, you could pay more than the asking price. 45.7% of homes here sold above asking price last month.

Summary: A total of 368 homes were sold or pending in Far North Side in April 2024, up by 10.5% month-over-month. Of the 368 sold homes, 39% were sold under asking, 15% were sold at asking, and 46% were sold over asking.

Days on Market for Far North Side, IL

How long does it take to sell a home in Far North Side, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
28 Days22 Days-21.2%

Summary: Homes in Far North Side had an average of 22 days on market in Apr 2024, down by 21.2% compared to last year.

Breakdown of Home Sale Times

292 Homes Were Sold
Under 30 Days

51 Homes Were Sold
In 30 - 90 Days

25 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Far North Side are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 368 homes were sold in Far North Side; 79% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

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