Is South Holland, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing South Holland is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in South Holland, IL

How much do homes in South Holland, IL cost?

Median Sold Price

$228,700

$147/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$8,700(+4.0%)

Key Takeaway

Homes in South Holland have sold for 4% more than they did a year ago.

Summary: The median home sold price in South Holland was $228,700 in May 2024, up 4% from last year, and the median price per square foot was $147.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 -$100K
N/A
2 $159K$162.4K
+2.2%
3 $219.9K$220K
0.0%
4 $244K$250K
+2.4%
5+ $289.5K$262.5K
-9.3%

Summary: South Holland housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 2.2%, 3 bedroom homes did not change, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes decreased by 9.3%.

Median Sold Price Compared To Nearby Cities

South Holland
+4.0%
Thornton Township
+3.7%
Dolton
-0.6%

Housing Supply in South Holland, IL

How many homes are available in South Holland, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
99107+8.1%

Summary: The South Holland real estate market had 107 homes for sale in May 2024, a 8.1% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 33
0.0%
3 6371
+12.7%
4 3029
-3.3%
5+ 34
+33.3%

Summary: The South Holland housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 12.7%, 4 bedroom homes decreased by 3.3%, and 5+ bedroom homes increased by 33.3%.

Number of Homes Sold

Apr 2024May 2024CHANGE
25250.0%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in South Holland, you could pay more than the asking price. 52% of homes here sold above asking price last month.

Summary: A total of 25 homes were sold or pending in South Holland in May 2024, the same as the previous month. Of the 25 sold homes, 24% were sold under asking, 24% were sold at asking, and 52% were sold over asking.

Days on Market for South Holland, IL

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

Average Sale Time

May 2023May 2024CHANGE
75 Days48 Days-35.8%

Summary: Homes in South Holland had an average of 48 days on market in May 2024, down by 35.8% compared to last year.

Breakdown of Home Sale Times

15 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 25 homes were sold in South Holland; 60% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 24% 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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