Is Southern, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Southern was a Buyer's Market.
Housing Prices in Southern, IL
How much do homes in Southern, IL cost?
Median Sold Price
$350,000
$159/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Summary: The median home sold price in Southern was $350,000 in April 2024, up 52.2% from last month, and the median price per square foot was $159.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | - | $176K | N/A |
3 Bedrooms | $230K | $405K | +76.1% |
4 Bedrooms | - | - | N/A |
5+ Bedrooms | - | $350K | N/A |
Summary: Southern housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 76.1%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Southern | $230K | $350K | +52.2% |
Lake No. 1 | $185K | $177.9K | -3.8% |
Housing Supply in Southern, IL
How many homes are available in Southern, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
17 | 17 | 0.0% |
Summary: The Southern real estate market had 17 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 1 | 2 | +100.0% |
3 Bedrooms | 11 | 11 | 0.0% |
4 Bedrooms | 3 | 3 | 0.0% |
5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Southern housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
1 | 5 | +400.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 5 homes were sold or pending in Southern in April 2024, up by 400.0% month-over-month. Of the 5 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.
Days on Market for Southern, IL
How long does it take to sell a home in Southern, IL?
Average Sale Time
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
6 Days | 38 Days | +543.3% |
Summary: Homes in Southern had an average of 38 days on market in Apr 2024, up by 543.3% compared to last month.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 5 homes were sold in Southern; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.