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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Far North Side is a seller's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

Housing Prices in Far North Side, IL

How much do homes in Far North Side, IL cost?

Median Sold Price

$349,930

$234/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$18,750(+5.7%)

Key Takeaway

Homes in Far North Side have sold for 5.7% more than they did a year ago.

Summary: The median home sold price in Far North Side was $349,930 in March 2024, up 5.7% from last year, and the median price per square foot was $234.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $144.5K$153.2K
+6.0%
2 $260.6K$270.1K
+3.6%
3 $424.9K$434.9K
+2.4%
4 $549.9K$596.3K
+8.4%
5+ $620.1K$650K
+4.8%

Summary: Far North Side housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6%, 2 bedroom homes increased by 3.6%, 3 bedroom homes increased by 2.4%, 4 bedroom homes increased by 8.4%, and 5+ bedroom homes increased by 4.8%.

Median Sold Price Compared To Nearby Neighborhoods

Sauganash
+18.9%
Far North Side
+5.7%

Housing Supply in Far North Side, IL

How many homes are available in Far North Side, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
9951,203+20.9%

Summary: The Far North Side real estate market had 1,203 homes for sale in March 2024, a 20.9% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 143180
+25.9%
2 337413
+22.6%
3 270319
+18.1%
4 125149
+19.2%
5+ 120142
+18.3%

Summary: The Far North Side housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25.9%, 2 bedroom homes increased by 22.6%, 3 bedroom homes increased by 18.1%, 4 bedroom homes increased by 19.2%, and 5+ bedroom homes increased by 18.3%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
218319+46.3%

Asking Price vs. Sold Price

133 Homes Were Sold
Under Asking

65 Homes Were Sold
At Asking

121 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Far North Side, you may be able to get a good deal. 41.7% of homes here sold below asking price last month.

Summary: A total of 319 homes were sold or pending in Far North Side in March 2024, up by 46.3% month-over-month. Of the 319 sold homes, 42% were sold under asking, 20% were sold at asking, and 38% were sold over asking.

Days on Market for Far North Side, IL

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

Average Sale Time

Mar 2023Mar 2024CHANGE
34 Days31 Days-8.1%

Summary: Homes in Far North Side had an average of 31 days on market in Mar 2024, down by 8.1% compared to last year.

Breakdown of Home Sale Times

229 Homes Were Sold
Under 30 Days

53 Homes Were Sold
In 30 - 90 Days

37 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 319 homes were sold in Far North Side; 72% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 12% 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 28 Days Ago

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