Is Far 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, Far Southwest Side has remained a Seller's Market.
Housing Prices in Far Southwest Side, IL
How much do homes in Far Southwest Side, IL cost?
Median Sold Price
$251,458
$164/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Far Southwest Side was $251,458 in April 2024, up 2.7% from last year, and the median price per square foot was $164.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $84.9K | $115.5K | +36.0% |
2 Bedrooms | $195K | $220K | +12.8% |
3 Bedrooms | $245.5K | $250K | +1.8% |
4 Bedrooms | $261.7K | $267.5K | +2.2% |
5+ Bedrooms | $300K | $299.9K | 0% |
Summary: Far Southwest Side housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 36%, 2 bedroom homes increased by 12.8%, 3 bedroom homes increased by 1.8%, 4 bedroom homes increased by 2.2%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
Mount Greenwood | $254.9K | $280K | +9.8% |
Ashburn | $250.5K | $260K | +3.8% |
Far Southwest Side | $244.8K | $251.4K | +2.7% |
Beverly | $390K | $355.5K | -8.8% |
Housing Supply in Far Southwest Side, IL
How many homes are available in Far Southwest Side, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
539 | 608 | +12.8% |
Summary: The Far Southwest Side real estate market had 608 homes for sale in April 2024, a 12.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 7 | 5 | -28.6% |
2 Bedrooms | 61 | 72 | +18.0% |
3 Bedrooms | 255 | 298 | +16.9% |
4 Bedrooms | 137 | 150 | +9.5% |
5+ Bedrooms | 79 | 83 | +5.1% |
Summary: The Far Southwest Side housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 28.6%, 2 bedroom homes increased by 18%, 3 bedroom homes increased by 16.9%, 4 bedroom homes increased by 9.5%, and 5+ bedroom homes increased by 5.1%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
107 | 116 | +8.4% |
Asking Price vs. Sold Price
45 Homes Were Sold
Under Asking
21 Homes Were Sold
At Asking
50 Homes Were Sold
Over Asking
Summary: A total of 116 homes were sold or pending in Far Southwest Side in April 2024, up by 8.4% month-over-month. Of the 116 sold homes, 39% were sold under asking, 18% were sold at asking, and 43% were sold over asking.
Days on Market for Far Southwest Side, IL
How long does it take to sell a home in Far Southwest Side, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
42 Days | 31 Days | -24.7% |
Summary: Homes in Far Southwest Side had an average of 31 days on market in Apr 2024, down by 24.7% compared to last year.
Breakdown of Home Sale Times
85 Homes Were Sold
Under 30 Days
19 Homes Were Sold
In 30 - 90 Days
12 Homes Were Sold
Over 90 Days
Summary: During April 2024, 116 homes were sold in Far Southwest Side; 73% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.