$2,345 Closing Credit*
$197,500
1,150 SqFt
3 Beds
•2 Full Baths
Beth Wilson, Listing Office: Paul Wilson Realty
Is Southern, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Southern was a Buyer's Market.
Key Takeaway
Southern is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Southern, IL
How much do homes in Southern, IL cost?
Median Sold Price
$325,000
$159/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$91,375(+39.1%)
Key Takeaway
Homes in Southern have sold for 39.1% more than they did a year ago.
Summary: The median home sold price in Southern was $325,000 in October 2024, up 39.1% from last year, and the median price per square foot was $159.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $151K | $176K | +16.5% |
| 3 Bedrooms | $242.2K | $355K | +46.5% |
| 4 Bedrooms | $400K | $323.7K | -19.1% |
| 5+ Bedrooms | - | $500K | N/A |
Summary: Southern housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 16.5%, 3 bedroom homes increased by 46.5%, 4 bedroom homes decreased by 19.1%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Southern | $233.6K | $325K | +39.1% |
| West Marion | $152.4K | $164.5K | +7.9% |
Housing Supply in Southern, IL
How many homes are available in Southern, IL?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 17 | 18 | +5.9% |
Summary: The Southern real estate market had 18 homes for sale in October 2024, a 5.9% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 3 | 3 | 0.0% |
| 3 Bedrooms | 5 | 5 | 0.0% |
| 4 Bedrooms | 8 | 8 | 0.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Southern housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 3 | 5 | +66.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Southern, 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 Southern in October 2024, up by 66.7% month-over-month. Of the 5 sold homes, 60% were sold under asking, 40% were sold at asking, and 0% were sold over asking.
Days on Market for Southern, IL
How long does it take to sell a home in Southern, IL?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 16 Days | 52 Days | +225.0% |
Summary: Homes in Southern had an average of 52 days on market in Oct 2024, up by 225% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Southern are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 5 homes were sold in Southern; 80% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
Listings courtesy of RMLS Alliance as distributed by MLS GRID.