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 October 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

$183/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$10,000(+4.3%)

Key Takeaway

Homes in Alsip have sold for 4.3% more than they did a year ago.

Summary: The median home sold price in Alsip was $245,000 in October 2024, up 4.3% from last year, and the median price per square foot was $183.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $80.4K$90K
+11.9%
2 $147K$140K
-4.8%
3 $255K$286K
+12.2%
4 $287.5K$305K
+6.1%
5+ $285.4K$353.5K
+23.8%

Summary: Alsip housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.9%, 2 bedroom homes decreased by 4.8%, 3 bedroom homes increased by 12.2%, 4 bedroom homes increased by 6.1%, and 5+ bedroom homes increased by 23.8%.

Median Sold Price Compared To Nearby Cities

Blue Island
+17.7%
Worth Township
+10.5%
Oak Lawn
+9.6%
Alsip
+4.3%

Housing Supply in Alsip, IL

How many homes are available in Alsip, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
6675+13.6%

Summary: The Alsip real estate market had 75 homes for sale in October 2024, a 13.6% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 12
+100.0%
2 2126
+23.8%
3 3034
+13.3%
4 98
-11.1%
5+ 55
0.0%

Summary: The Alsip housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 23.8%, 3 bedroom homes increased by 13.3%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1415+7.1%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

8 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. 53.3% of homes here sold above asking price last month.

Summary: A total of 15 homes were sold or pending in Alsip in October 2024, up by 7.1% month-over-month. Of the 15 sold homes, 27% were sold under asking, 20% were sold at asking, and 53% 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

Oct 2023Oct 2024CHANGE
16 Days27 Days+61.7%

Summary: Homes in Alsip had an average of 27 days on market in Oct 2024, up by 61.7% compared to last year.

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

3 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 October 2024, 15 homes were sold in Alsip; 73% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 7% 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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