Home Prices in Chicago South Real Estate for May 2016 – Detached
Real estate market data for Chicago South real estate provided by Millie Lumpkin of Exit Strategy Realty.
Overall, the Chicago metropolitan area as a whole continues to experience a seller’s market. This is a trend that started in fall 2013 and the limit on supply levels has resulted in a 27.7% increase in the median sales price for detached single family homes compared to May 2013. In the most recent 12 months, the median sales price was $229,800 which is an increase of 6.4%. The average days for listing to get to contract is 60 days overall. The trends for the city of Chicago are consistent with the pattern for the area as a whole.
Some south side neighborhoods run against the trend shown in the city overall. The Beverly, Chatham and South Shore neighborhoods actually experienced a decline in the median sales price over the last 12 months. The inventory of homes in some of these south side neighborhoods also reflect a more balanced market in terms of supply. Note also that most of the neighborhoods listed have a higher average of days from listing to contract.
Listed below are some select neighborhoods south of the Loop. For other Chicago neighborhoods and suburban areas, click here for a full list of year to date market activity by community.
Chicago South Real Estate Market Activity
Find Homes in Chicago South Real Estate Market
Visit my website to search for homes in the Chicago South real estate market or to be notified when homes come on the market.
To find out what your home is worth in the current market, email me or call/text at (312) 217-5644.