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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Alsip is a seller's market

Buyer's
Market

Difference Since April 2023

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

Key Takeaway

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

Housing Prices in Alsip, IL

How much do homes in Alsip, IL cost?

Median Sold Price

$240,000

$181/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$14,600(+6.5%)

Key Takeaway

Homes in Alsip have sold for 6.5% more than they did a year ago.

Summary: The median home sold price in Alsip was $240,000 in April 2024, up 6.5% from last year, and the median price per square foot was $181.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $75.9K$77.5K
+2.1%
2 $138.9K$146K
+5.1%
3 $247.5K$268.4K
+8.5%
4 $280K$299.9K
+7.1%
5+ $291K$306.2K
+5.2%

Summary: Alsip housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.1%, 2 bedroom homes increased by 5.1%, 3 bedroom homes increased by 8.5%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes increased by 5.2%.

Median Sold Price Compared To Nearby Cities

Merrionette Park
+11.9%
Worth Township
+6.6%
Alsip
+6.5%
Oak Lawn
+3.8%
Blue Island
-3.2%

Housing Supply in Alsip, IL

How many homes are available in Alsip, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
4958+18.4%

Summary: The Alsip real estate market had 58 homes for sale in April 2024, a 18.4% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 22
0.0%
2 1418
+28.6%
3 2421
-12.5%
4 613
+116.7%
5+ 34
+33.3%

Summary: The Alsip 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 28.6%, 3 bedroom homes decreased by 12.5%, 4 bedroom homes increased by 116.7%, and 5+ bedroom homes increased by 33.3%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
1316+23.1%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Alsip, you could pay more than the asking price. 56.3% of homes here sold above asking price last month.

Summary: A total of 16 homes were sold or pending in Alsip in April 2024, up by 23.1% month-over-month. Of the 16 sold homes, 25% were sold under asking, 19% were sold at asking, and 56% were sold over asking.

Days on Market for Alsip, IL

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

Average Sale Time

Apr 2023Apr 2024CHANGE
39 Days44 Days+13.1%

Summary: Homes in Alsip had an average of 44 days on market in Apr 2024, up by 13.1% compared to last year.

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During April 2024, 16 homes were sold in Alsip; 69% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 13% 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 16 Days Ago

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