Is Near South 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, Near South Side has remained a Seller's Market.
Housing Prices in Near South Side, IL
How much do homes in Near South Side, IL cost?
Median Sold Price
$384,222
$325/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Near South Side was $384,222 in April 2024, up 2.5% from last year, and the median price per square foot was $325.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $270K | $270K | 0.0% |
2 Bedrooms | $403.2K | $403.2K | 0% |
3 Bedrooms | $695K | $680K | -2.2% |
4 Bedrooms | $1.0M | $1.0M | -4.6% |
5+ Bedrooms | $900K | $1.4M | +65.6% |
Summary: Near South Side housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 2.2%, 4 bedroom homes decreased by 4.6%, and 5+ bedroom homes increased by 65.6%.
Median Sold Price Compared To Nearby Neighborhoods
Near South Side | $374.9K | $384.2K | +2.5% |
212 East | $362.5K | $292K | -19.4% |
Housing Supply in Near South Side, IL
How many homes are available in Near South Side, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
236 | 283 | +19.9% |
Summary: The Near South Side real estate market had 283 homes for sale in April 2024, a 19.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 59 | 73 | +23.7% |
2 Bedrooms | 115 | 135 | +17.4% |
3 Bedrooms | 49 | 58 | +18.4% |
4 Bedrooms | 13 | 17 | +30.8% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Near South Side housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 23.7%, 2 bedroom homes increased by 17.4%, 3 bedroom homes increased by 18.4%, 4 bedroom homes increased by 30.8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
40 | 62 | +55.0% |
Asking Price vs. Sold Price
26 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
31 Homes Were Sold
Over Asking
Summary: A total of 62 homes were sold or pending in Near South Side in April 2024, up by 55.0% month-over-month. Of the 62 sold homes, 42% were sold under asking, 8% were sold at asking, and 50% were sold over asking.
Days on Market for Near South Side, IL
How long does it take to sell a home in Near South Side, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
37 Days | 31 Days | -16.6% |
Summary: Homes in Near South Side had an average of 31 days on market in Apr 2024, down by 16.6% compared to last year.
Breakdown of Home Sale Times
44 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Summary: During April 2024, 62 homes were sold in Near South Side; 71% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.