Is Southwest Side, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Southwest Side has remained a Seller's Market.
Housing Prices in Southwest Side, IL
How much do homes in Southwest Side, IL cost?
Median Sold Price
$260,400
$187/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Southwest Side was $260,400 in April 2024, up 4.1% from last year, and the median price per square foot was $187.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $115K | $124.9K | +8.6% |
2 Bedrooms | $200.1K | $214.1K | +7.0% |
3 Bedrooms | $260K | $270K | +3.8% |
4 Bedrooms | $250K | $259.9K | +4.0% |
5+ Bedrooms | $279K | $285K | +2.2% |
Summary: Southwest Side housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.6%, 2 bedroom homes increased by 7%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 4%, and 5+ bedroom homes increased by 2.2%.
Median Sold Price Compared To Nearby Neighborhoods
Garage Park | $255K | $269.4K | +5.7% |
Archer Heights | $289.4K | $303K | +4.7% |
Southwest Side | $250K | $260.4K | +4.1% |
Chicago Lawn | $250K | $258K | +3.2% |
West Elsdon | $277K | $275K | -0.7% |
Housing Supply in Southwest Side, IL
How many homes are available in Southwest Side, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
675 | 797 | +18.1% |
Summary: The Southwest Side real estate market had 797 homes for sale in April 2024, a 18.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 6 | 10 | +66.7% |
2 Bedrooms | 75 | 81 | +8.0% |
3 Bedrooms | 210 | 246 | +17.1% |
4 Bedrooms | 149 | 191 | +28.2% |
5+ Bedrooms | 235 | 269 | +14.5% |
Summary: The Southwest Side housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes increased by 8%, 3 bedroom homes increased by 17.1%, 4 bedroom homes increased by 28.2%, and 5+ bedroom homes increased by 14.5%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
155 | 165 | +6.5% |
Asking Price vs. Sold Price
71 Homes Were Sold
Under Asking
22 Homes Were Sold
At Asking
72 Homes Were Sold
Over Asking
Summary: A total of 165 homes were sold or pending in Southwest Side in April 2024, up by 6.5% month-over-month. Of the 165 sold homes, 43% were sold under asking, 13% were sold at asking, and 44% were sold over asking.
Days on Market for Southwest Side, IL
How long does it take to sell a home in Southwest Side, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
51 Days | 42 Days | -18.0% |
Summary: Homes in Southwest Side had an average of 42 days on market in Apr 2024, down by 18% compared to last year.
Breakdown of Home Sale Times
107 Homes Were Sold
Under 30 Days
33 Homes Were Sold
In 30 - 90 Days
25 Homes Were Sold
Over 90 Days
Summary: During April 2024, 165 homes were sold in Southwest Side; 65% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.