Is 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
At the same time last year, South Side was a Seller's Market.
Housing Prices in South Side, IL
How much do homes in South Side, IL cost?
Median Sold Price
$261,233
$155/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in South Side was $261,233 in April 2024, down 1.9% from last year, and the median price per square foot was $155.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $121.5K | $118K | -2.9% |
2 Bedrooms | $189.9K | $184.5K | -2.9% |
3 Bedrooms | $290K | $292K | +0.7% |
4 Bedrooms | $352K | $352K | 0.0% |
5+ Bedrooms | $390.8K | $385.9K | -1.3% |
Summary: South Side housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.9%, 2 bedroom homes decreased by 2.9%, 3 bedroom homes increased by 0.7%, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 1.3%.
Housing Supply in South Side, IL
How many homes are available in South Side, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
817 | 993 | +21.5% |
Summary: The South Side real estate market had 993 homes for sale in April 2024, a 21.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 66 | 77 | +16.7% |
2 Bedrooms | 162 | 196 | +21.0% |
3 Bedrooms | 248 | 307 | +23.8% |
4 Bedrooms | 122 | 155 | +27.0% |
5+ Bedrooms | 219 | 258 | +17.8% |
Summary: The South Side housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.7%, 2 bedroom homes increased by 21%, 3 bedroom homes increased by 23.8%, 4 bedroom homes increased by 27%, and 5+ bedroom homes increased by 17.8%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
116 | 128 | +10.3% |
Asking Price vs. Sold Price
71 Homes Were Sold
Under Asking
25 Homes Were Sold
At Asking
32 Homes Were Sold
Over Asking
Summary: A total of 128 homes were sold or pending in South Side in April 2024, up by 10.3% month-over-month. Of the 128 sold homes, 55% were sold under asking, 20% were sold at asking, and 25% were sold over asking.
Days on Market for South Side, IL
How long does it take to sell a home in South Side, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
55 Days | 47 Days | -15.1% |
Summary: Homes in South Side had an average of 47 days on market in Apr 2024, down by 15.1% compared to last year.
Breakdown of Home Sale Times
79 Homes Were Sold
Under 30 Days
24 Homes Were Sold
In 30 - 90 Days
25 Homes Were Sold
Over 90 Days
Summary: During April 2024, 128 homes were sold in South Side; 62% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.