Is South Chicago Heights, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing South Chicago Heights is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, South Chicago Heights has remained a Seller's Market.

Key Takeaway

South Chicago Heights is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in South Chicago Heights, IL

How much do homes in South Chicago Heights, IL cost?

Median Sold Price

$149,900

$137/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

-$15,100(-9.2%)

Key Takeaway

Homes in South Chicago Heights have sold for 9.2% less than they did a year ago.

Summary: The median home sold price in South Chicago Heights was $149,900 in April 2024, down 9.2% from last year, and the median price per square foot was $137.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 -$38K
N/A
2 $141K$112.5K
-20.2%
3 $165K$175K
+6.1%
4 $193K-
N/A
5+ $120K$270K
+125.0%

Summary: South Chicago Heights housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 20.2%, 3 bedroom homes increased by 6.1%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 125%.

Median Sold Price Compared To Nearby Cities

Chicago Heights
+7.8%
Steger
+7.7%
Bloom Township
+5.6%
South Chicago Heights
-9.2%

Housing Supply in South Chicago Heights, IL

How many homes are available in South Chicago Heights, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
1315+15.4%

Summary: The South Chicago Heights real estate market had 15 homes for sale in April 2024, a 15.4% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 10
-100.0%
2 11
0.0%
3 812
+50.0%
4 11
0.0%
5+ 21
-50.0%

Summary: The South Chicago Heights housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 50%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 50%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
330.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in South Chicago Heights, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.

Summary: A total of 3 homes were sold or pending in South Chicago Heights in April 2024, the same as the previous month. Of the 3 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.

Days on Market for South Chicago Heights, IL

How long does it take to sell a home in South Chicago Heights, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
66 Days16 Days-75.8%

Summary: Homes in South Chicago Heights had an average of 16 days on market in Apr 2024, down by 75.8% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in South Chicago Heights are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 3 homes were sold in South Chicago Heights; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% 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 15 Days Ago

Newest Listings in South Chicago Heights, IL

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