Is Southport Corridor, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Southport Corridor is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Southport Corridor, IL

How much do homes in Southport Corridor, IL cost?

Median Sold Price

$745,000

$364/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$95,000(+14.6%)

Key Takeaway

Homes in Southport Corridor have sold for 14.6% more than they did a year ago.

Summary: The median home sold price in Southport Corridor was $745,000 in October 2024, up 14.6% from last year, and the median price per square foot was $364.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $235K$275.5K
+17.2%
2 $448K$447K
-0.2%
3 $681.2K$775K
+13.8%
4 $1.4M$1.2M
-15.9%
5+ $1.6M$1.6M
-0.8%

Summary: Southport Corridor housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.2%, 2 bedroom homes decreased by 0.2%, 3 bedroom homes increased by 13.8%, 4 bedroom homes decreased by 15.9%, and 5+ bedroom homes decreased by 0.8%.

Median Sold Price Compared To Nearby Neighborhoods

Southport Corridor
+14.6%
Wrigleyville
+11.6%
North Side
+7.2%
Lake View
+4.9%

Housing Supply in Southport Corridor, IL

How many homes are available in Southport Corridor, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
3940+2.6%

Summary: The Southport Corridor real estate market had 40 homes for sale in October 2024, a 2.6% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 21
-50.0%
2 710
+42.9%
3 128
-33.3%
4 36
+100.0%
5+ 1515
0.0%

Summary: The Southport Corridor housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 42.9%, 3 bedroom homes decreased by 33.3%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1411-21.4%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Southport Corridor, you could pay more than the asking price. 63.6% of homes here sold above asking price last month.

Summary: A total of 11 homes were sold or pending in Southport Corridor in October 2024, down by 21.4% month-over-month. Of the 11 sold homes, 18% were sold under asking, 18% were sold at asking, and 64% were sold over asking.

Days on Market for Southport Corridor, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
7 Days12 Days+65.7%

Summary: Homes in Southport Corridor had an average of 12 days on market in Oct 2024, up by 65.7% compared to last year.

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 11 homes were sold in Southport Corridor; 91% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 0% 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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