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 May 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

$172,000

$155/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$7,000(+4.2%)

Key Takeaway

Homes in South Chicago Heights have sold for 4.2% more than they did a year ago.

Summary: The median home sold price in South Chicago Heights was $172,000 in May 2024, up 4.2% from last year, and the median price per square foot was $155.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 -$38K
N/A
2 $133.5K$112.5K
-15.7%
3 $165K$179K
+8.5%
4 $196.5K-
N/A
5+ $120K$253.5K
+111.3%

Summary: South Chicago Heights housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 15.7%, 3 bedroom homes increased by 8.5%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 111.3%.

Median Sold Price Compared To Nearby Cities

Steger
+7.8%
Chicago Heights
+5.9%
South Chicago Heights
+4.2%
Bloom Township
+3.9%

Housing Supply in South Chicago Heights, IL

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

Number of Homes For Sale

Apr 2024May 2024CHANGE
15150.0%

Summary: The South Chicago Heights real estate market had 15 homes for sale in May 2024, the same as April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 13
+200.0%
3 1210
-16.7%
4 11
0.0%
5+ 11
0.0%

Summary: The South Chicago Heights housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 200%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
36+100.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in South Chicago Heights, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in South Chicago Heights in May 2024, up by 100.0% month-over-month. Of the 6 sold homes, 50% were sold under asking, 33% were sold at asking, and 17% 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

May 2023May 2024CHANGE
12 Days32 Days+161.3%

Summary: Homes in South Chicago Heights had an average of 32 days on market in May 2024, up by 161.3% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

2 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 May 2024, 6 homes were sold in South Chicago Heights; 67% of homes were sold within 30 days, 33% 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 1 Day Ago

Newest Listings in South Chicago Heights, IL

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