Is Near North Side, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Near North Side has remained a Seller's Market.
Housing Prices in Near North Side, IL
How much do homes in Near North Side, IL cost?
Median Sold Price
$427,824
$357/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Near North Side was $427,824 in May 2024, down 1.5% from last year, and the median price per square foot was $357.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $275.1K | $277K | +0.7% |
2 Bedrooms | $475.6K | $460K | -3.3% |
3 Bedrooms | $866.3K | $857.3K | -1.0% |
4 Bedrooms | $1.3M | $1.2M | -6.7% |
5+ Bedrooms | $2.1M | $1.8M | -17.2% |
Summary: Near North Side housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.7%, 2 bedroom homes decreased by 3.3%, 3 bedroom homes decreased by 1%, 4 bedroom homes decreased by 6.7%, and 5+ bedroom homes decreased by 17.2%.
Median Sold Price Compared To Nearby Neighborhoods
Water Tower Place | $1.0M | $1.2M | +14.3% |
175 East Delaware Place | $370K | $410K | +10.8% |
Near North Side | $434.3K | $427.8K | -1.5% |
Rush & Division | $450K | $439.3K | -2.4% |
Housing Supply in Near North Side, IL
How many homes are available in Near North Side, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
1,281 | 1,459 | +13.9% |
Summary: The Near North Side real estate market had 1,459 homes for sale in May 2024, a 13.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 388 | 420 | +8.2% |
2 Bedrooms | 445 | 516 | +16.0% |
3 Bedrooms | 334 | 377 | +12.9% |
4 Bedrooms | 82 | 103 | +25.6% |
5+ Bedrooms | 32 | 43 | +34.4% |
Summary: The Near North Side housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.2%, 2 bedroom homes increased by 16%, 3 bedroom homes increased by 12.9%, 4 bedroom homes increased by 25.6%, and 5+ bedroom homes increased by 34.4%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
251 | 252 | 0.4% |
Asking Price vs. Sold Price
155 Homes Were Sold
Under Asking
29 Homes Were Sold
At Asking
68 Homes Were Sold
Over Asking
Summary: A total of 252 homes were sold or pending in Near North Side in May 2024, up by 0.4% month-over-month. Of the 252 sold homes, 62% were sold under asking, 12% were sold at asking, and 27% were sold over asking.
Days on Market for Near North Side, IL
How long does it take to sell a home in Near North Side, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
63 Days | 43 Days | -31.9% |
Summary: Homes in Near North Side had an average of 43 days on market in May 2024, down by 31.9% compared to last year.
Breakdown of Home Sale Times
154 Homes Were Sold
Under 30 Days
73 Homes Were Sold
In 30 - 90 Days
25 Homes Were Sold
Over 90 Days
Summary: During May 2024, 252 homes were sold in Near North Side; 61% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.