Is Southern, IL a buyer’s or seller’s market?

Housing Market Conditions



Gauge showing Southern is a seller's market


Difference Since November 2021

At the same time last year, Southern was a Buyer's Market.

Key Takeaway

Southern is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Southern, IL cost?

Median Sold Price



Based on all homes sold in the last 12 months.

Difference Since November 2021


Key Takeaway

Homes in Southern have sold for 7.7% less than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSNov 2021Nov 2022%
1 -$119K
2 $148.5K$195.3K
3 $239K$176.2K
4 $259K$385K
5+ $610K$507.5K

Median Sold Price Compared To Nearby Cities

Lake No. 1
West Marion

How many homes are available in Southern, IL?

Number of Homes For Sale

Oct 2022Nov 2022%

Homes For Sale By Bedroom Count

# BEDSOct 2022Nov 2022%
1 10
2 11
3 710
4 11
5+ 00

Number of Homes Sold

Oct 2022Nov 2022%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Southern, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.

Average Sale Time

Nov 2021Nov 2022%
38 Days19 Days-48.2%

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Southern, IL

Number of homes for sale in Southern, IL real estate market have reached 12. The number of homes for sale in Southern, IL increased by 20% between October 2022 and November 2022. Listings spent 19 days on the market in November 2022, and had a median list price of $228,500 during the same period. From October 2022 through November 2022, the following changes in listing prices were observed in this housing market: prices of 1 bedroom properties went up by 0%, 2 bedrooms properties became 31.6% more expensive, the cost of 3 bedrooms properties went down by 26.3%, the cost of 4 bedrooms properties went up by 48.6%, the cost of 5 bedrooms properties went down by 16.8%. Volume of homes for sale changed: the quantity of 1 bedroom homes went down by 100%, volume of 2 bedrooms homes stayed the same, number of 3 bedrooms homes increased by 42.9%, number of 4 bedrooms homes remained the same, number of 5 bedrooms homes remained the same. Southern, IL housing market in November 2022 saw over 1 listings sold above listed price, more than 1 sold at listed price and over 1 sold below.

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