Is South Deering, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing South Deering is a neutral's market

Buyer's
Market

Difference Since April 2023

At the same time last year, South Deering was a Seller's Market.

Key Takeaway

South Deering is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in South Deering, IL

How much do homes in South Deering, IL cost?

Median Sold Price

$108,375

$99/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

-$8,625(-7.4%)

Key Takeaway

Homes in South Deering have sold for 7.4% less than they did a year ago.

Summary: The median home sold price in South Deering was $108,375 in April 2024, down 7.4% from last year, and the median price per square foot was $99.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 --
N/A
2 $79.9K$77.5K
-3.0%
3 $127K$120K
-5.5%
4 $197K$175K
-11.2%
5+ $203K$170K
-16.3%

Summary: South Deering 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 decreased by 3%, 3 bedroom homes decreased by 5.5%, 4 bedroom homes decreased by 11.2%, and 5+ bedroom homes decreased by 16.3%.

Median Sold Price Compared To Nearby Neighborhoods

East Side
+19.8%
Hegewisch
+5.0%
Far Southeast Side
+0.8%
South Deering
-7.4%

Housing Supply in South Deering, IL

How many homes are available in South Deering, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
3641+13.9%

Summary: The South Deering real estate market had 41 homes for sale in April 2024, a 13.9% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 11
0.0%
2 88
0.0%
3 1923
+21.1%
4 34
+33.3%
5+ 55
0.0%

Summary: The South Deering housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 21.1%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
56+20.0%

Asking Price vs. Sold Price

4 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 South Deering, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in South Deering in April 2024, up by 20.0% month-over-month. Of the 6 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.

Days on Market for South Deering, IL

How long does it take to sell a home in South Deering, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
44 Days73 Days+62.6%

Summary: Homes in South Deering had an average of 73 days on market in Apr 2024, up by 62.6% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in South Deering are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 6 homes were sold in South Deering; 67% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 17% 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 3 Days Ago

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