Is Lakeshore East / New Eastside, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lakeshore East / New Eastside is a buyer's market

Buyer's
Market

Difference Since March 2023

At the same time last year, Lakeshore East / New Eastside was a Seller's Market.

Key Takeaway

Lakeshore East / New Eastside is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Lakeshore East / New Eastside, IL

How much do homes in Lakeshore East / New Eastside, IL cost?

Median Sold Price

$521,500

$473/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

-$1,000(-0.2%)

Key Takeaway

The sold price of homes in Lakeshore East / New Eastside has remained the same since last year.

Summary: The median home sold price in Lakeshore East / New Eastside was $521,500 in March 2024, down 0.2% from last year, and the median price per square foot was $473.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $364.5K$392.5K
+7.7%
2 $605K$579.5K
-4.2%
3 $1.1M$1.1M
-7.2%
4 $3.4M$2.8M
-17.5%
5+ -$2.2M
N/A

Summary: Lakeshore East / New Eastside housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.7%, 2 bedroom homes decreased by 4.2%, 3 bedroom homes decreased by 7.2%, 4 bedroom homes decreased by 17.5%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Neighborhoods

Millennium Park
+14.8%
Loop
+8.2%
Streeterville
+4.8%
Lakeshore East / New Eastside
-0.2%
Near North Side
-5.2%

Housing Supply in Lakeshore East / New Eastside, IL

How many homes are available in Lakeshore East / New Eastside, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
88106+20.5%

Summary: The Lakeshore East / New Eastside real estate market had 106 homes for sale in March 2024, a 20.5% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 2434
+41.7%
2 4245
+7.1%
3 1823
+27.8%
4 33
0.0%
5+ 11
0.0%

Summary: The Lakeshore East / New Eastside housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 41.7%, 2 bedroom homes increased by 7.1%, 3 bedroom homes increased by 27.8%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
1211-8.3%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lakeshore East / New Eastside, you may be able to get a good deal. 81.8% of homes here sold below asking price last month.

Summary: A total of 11 homes were sold or pending in Lakeshore East / New Eastside in March 2024, down by 8.3% month-over-month. Of the 11 sold homes, 82% were sold under asking, 0% were sold at asking, and 18% were sold over asking.

Days on Market for Lakeshore East / New Eastside, IL

How long does it take to sell a home in Lakeshore East / New Eastside, IL?

Average Sale Time

Mar 2023Mar 2024CHANGE
63 Days36 Days-41.8%

Summary: Homes in Lakeshore East / New Eastside had an average of 36 days on market in Mar 2024, down by 41.8% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Lakeshore East / New Eastside are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 11 homes were sold in Lakeshore East / New Eastside; 73% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 18% 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 30 Days Ago

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