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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing North Side is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in North Side, IL

How much do homes in North Side, IL cost?

Median Sold Price

$589,881

$341/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$39,455(+7.2%)

Key Takeaway

Homes in North Side have sold for 7.2% more than they did a year ago.

Summary: The median home sold price in North Side was $589,881 in May 2024, up 7.2% from last year, and the median price per square foot was $341.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $229.8K$235K
+2.2%
2 $415.1K$442K
+6.5%
3 $675K$725K
+7.4%
4 $985K$1.0M
+4.0%
5+ $1.1M$1.2M
+4.6%

Summary: North Side housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.2%, 2 bedroom homes increased by 6.5%, 3 bedroom homes increased by 7.4%, 4 bedroom homes increased by 4%, and 5+ bedroom homes increased by 4.6%.

Median Sold Price Compared To Nearby Neighborhoods

Sheffield & DePaul
+15.4%
Lakeview East
+11.9%
North Side
+7.2%
Southport Corridor
+6.5%

Housing Supply in North Side, IL

How many homes are available in North Side, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
1,4521,604+10.5%

Summary: The North Side real estate market had 1,604 homes for sale in May 2024, a 10.5% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 186208
+11.8%
2 428441
+3.0%
3 386404
+4.7%
4 200243
+21.5%
5+ 252308
+22.2%

Summary: The North Side housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.8%, 2 bedroom homes increased by 3%, 3 bedroom homes increased by 4.7%, 4 bedroom homes increased by 21.5%, and 5+ bedroom homes increased by 22.2%.

Number of Homes Sold

Apr 2024May 2024CHANGE
453420-7.3%

Asking Price vs. Sold Price

157 Homes Were Sold
Under Asking

72 Homes Were Sold
At Asking

191 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in North Side, you could pay more than the asking price. 45.5% of homes here sold above asking price last month.

Summary: A total of 420 homes were sold or pending in North Side in May 2024, down by 7.3% month-over-month. Of the 420 sold homes, 37% were sold under asking, 17% were sold at asking, and 45% were sold over asking.

Days on Market for North Side, IL

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

Average Sale Time

May 2023May 2024CHANGE
22 Days21 Days-3.9%

Summary: Homes in North Side had an average of 21 days on market in May 2024, down by 3.9% compared to last year.

Breakdown of Home Sale Times

354 Homes Were Sold
Under 30 Days

48 Homes Were Sold
In 30 - 90 Days

18 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 420 homes were sold in North Side; 84% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 4% 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 1 Day Ago

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