Is Southport Corridor, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Southport Corridor is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, Southport Corridor has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Southport Corridor, IL

How much do homes in Southport Corridor, IL cost?

Median Sold Price

$692,500

$378/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$68,500(+11.0%)

Key Takeaway

Homes in Southport Corridor have sold for 11% more than they did a year ago.

Summary: The median home sold price in Southport Corridor was $692,500 in April 2024, up 11% from last year, and the median price per square foot was $378.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $240K$238K
-0.8%
2 $375K$461.2K
+23.0%
3 $735K$672.5K
-8.5%
4 $1.1M$1.5M
+39.5%
5+ $1.7M$1.6M
-4.4%

Summary: Southport Corridor housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.8%, 2 bedroom homes increased by 23%, 3 bedroom homes decreased by 8.5%, 4 bedroom homes increased by 39.5%, and 5+ bedroom homes decreased by 4.4%.

Median Sold Price Compared To Nearby Neighborhoods

Southport Corridor
+11.0%
Lake View
+7.8%
Wrigleyville
+6.4%
North Side
+6.3%

Housing Supply in Southport Corridor, IL

How many homes are available in Southport Corridor, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
3040+33.3%

Summary: The Southport Corridor real estate market had 40 homes for sale in April 2024, a 33.3% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 1012
+20.0%
3 36
+100.0%
4 22
0.0%
5+ 1520
+33.3%

Summary: The Southport Corridor 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 increased by 20%, 3 bedroom homes increased by 100%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 33.3%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
711+57.1%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Southport Corridor, you could pay more than the asking price. 63.6% of homes here sold above asking price last month.

Summary: A total of 11 homes were sold or pending in Southport Corridor in April 2024, up by 57.1% month-over-month. Of the 11 sold homes, 36% were sold under asking, 0% were sold at asking, and 64% were sold over asking.

Days on Market for Southport Corridor, IL

How long does it take to sell a home in Southport Corridor, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
22 Days62 Days+180.8%

Summary: Homes in Southport Corridor had an average of 62 days on market in Apr 2024, up by 180.8% compared to last year.

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During April 2024, 11 homes were sold in Southport Corridor; 91% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 9% 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 1 Day Ago

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