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 May 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

$245,000

$181/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$19,600(+8.7%)

Key Takeaway

Homes in Alsip have sold for 8.7% more than they did a year ago.

Summary: The median home sold price in Alsip was $245,000 in May 2024, up 8.7% from last year, and the median price per square foot was $181.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $75.9K$77.5K
+2.0%
2 $147K$140K
-4.8%
3 $245K$270K
+10.2%
4 $290K$305K
+5.2%
5+ $299K$306.2K
+2.4%

Summary: Alsip housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2%, 2 bedroom homes decreased by 4.8%, 3 bedroom homes increased by 10.2%, 4 bedroom homes increased by 5.2%, and 5+ bedroom homes increased by 2.4%.

Median Sold Price Compared To Nearby Cities

Alsip
+8.7%
Worth Township
+8.4%
Oak Lawn
+4.5%
Blue Island
-0.7%

Housing Supply in Alsip, IL

How many homes are available in Alsip, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
5560+9.1%

Summary: The Alsip real estate market had 60 homes for sale in May 2024, a 9.1% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 23
+50.0%
2 1813
-27.8%
3 2024
+20.0%
4 1214
+16.7%
5+ 36
+100.0%

Summary: The Alsip housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 27.8%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Apr 2024May 2024CHANGE
1618+12.5%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Alsip, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.

Summary: A total of 18 homes were sold or pending in Alsip in May 2024, up by 12.5% month-over-month. Of the 18 sold homes, 56% were sold under asking, 11% were sold at asking, and 33% 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

May 2023May 2024CHANGE
19 Days26 Days+34.1%

Summary: Homes in Alsip had an average of 26 days on market in May 2024, up by 34.1% compared to last year.

Breakdown of Home Sale Times

13 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

1 Home Was 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 May 2024, 18 homes were sold in Alsip; 72% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 6% 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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