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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Burnside is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Burnside, IL

How much do homes in Burnside, IL cost?

Median Sold Price

$187,500

$101/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$77,500(+70.5%)

Key Takeaway

Homes in Burnside have sold for 70.5% more than they did a year ago.

Summary: The median home sold price in Burnside was $187,500 in November 2024, up 70.5% from last year, and the median price per square foot was $101.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 --
N/A
2 $87.4K$240K
+174.4%
3 $142.5K$185K
+29.8%
4 $100K$157.5K
+57.5%
5+ $252K$137.5K
-45.4%

Summary: Burnside housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 174.4%, 3 bedroom homes increased by 29.8%, 4 bedroom homes increased by 57.5%, and 5+ bedroom homes decreased by 45.4%.

Median Sold Price Compared To Nearby Neighborhoods

Burnside
+70.5%
Avalon Park
+38.9%
Chatham
+10.3%
Calumet Heights
+2.2%

Housing Supply in Burnside, IL

How many homes are available in Burnside, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
2325+8.7%

Summary: The Burnside real estate market had 25 homes for sale in November 2024, a 8.7% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 22
0.0%
3 1413
-7.1%
4 57
+40.0%
5+ 23
+50.0%

Summary: The Burnside housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 7.1%, 4 bedroom homes increased by 40%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
15+400.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Burnside, you may be able to get a good deal. 60% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in Burnside in November 2024, up by 400.0% month-over-month. Of the 5 sold homes, 60% were sold under asking, 0% were sold at asking, and 40% were sold over asking.

Days on Market for Burnside, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
190 Days48 Days-74.5%

Summary: Homes in Burnside had an average of 48 days on market in Nov 2024, down by 74.5% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 5 homes were sold in Burnside; 40% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 20% 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 21 Days Ago

Newest Listings in Burnside, IL

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