Is South Shore, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, South Shore was a Seller's Market.
Housing Prices in South Shore, IL
How much do homes in South Shore, IL cost?
Median Sold Price
$135,250
$89/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in South Shore was $135,250 in March 2024, down 17.7% from last year, and the median price per square foot was $89.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $60K | $62K | +3.3% |
2 Bedrooms | $99.5K | $104K | +4.5% |
3 Bedrooms | $149.5K | $138K | -7.7% |
4 Bedrooms | $235K | $253.8K | +8.0% |
5+ Bedrooms | $337.5K | $335K | -0.7% |
Summary: South Shore housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.3%, 2 bedroom homes increased by 4.5%, 3 bedroom homes decreased by 7.7%, 4 bedroom homes increased by 8%, and 5+ bedroom homes decreased by 0.7%.
Median Sold Price Compared To Nearby Neighborhoods
South Chicago | $185K | $196.5K | +6.2% |
Woodlawn | $299K | $280K | -6.4% |
South Shore | $164.3K | $135.2K | -17.7% |
Housing Supply in South Shore, IL
How many homes are available in South Shore, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
152 | 189 | +24.3% |
Summary: The South Shore real estate market had 189 homes for sale in March 2024, a 24.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 13 | 19 | +46.2% |
2 Bedrooms | 30 | 44 | +46.7% |
3 Bedrooms | 46 | 51 | +10.9% |
4 Bedrooms | 26 | 32 | +23.1% |
5+ Bedrooms | 37 | 43 | +16.2% |
Summary: The South Shore housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 46.2%, 2 bedroom homes increased by 46.7%, 3 bedroom homes increased by 10.9%, 4 bedroom homes increased by 23.1%, and 5+ bedroom homes increased by 16.2%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
15 | 25 | +66.7% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 25 homes were sold or pending in South Shore in March 2024, up by 66.7% month-over-month. Of the 25 sold homes, 48% were sold under asking, 12% were sold at asking, and 40% were sold over asking.
Days on Market for South Shore, IL
How long does it take to sell a home in South Shore, IL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
67 Days | 52 Days | -22.5% |
Summary: Homes in South Shore had an average of 52 days on market in Mar 2024, down by 22.5% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During March 2024, 25 homes were sold in South Shore; 56% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.