South Shore currently leans toward sellers, with the local market gauge signaling a seller’s market. Inventory sits at about 6.3 months of supply in this rolling three-month view, higher than Chicago’s roughly three months. Even with more options available, buyers are still active enough to keep conditions tilted toward sellers.
Home prices in South Shore have softened compared with a year ago, with the typical home value down around 12 percent year over year and median list prices down about 18 percent. At the same time, more homes are changing hands, as homes sold are up more than 30 percent from a year earlier while new listings have risen at a slower pace. Typical days on market have fallen sharply, dropping from about three months a year ago to just over two months, which suggests that reasonably priced homes are attracting offers more quickly.
Signs of buyer interest also show up in contract and pricing trends. Pending sales have edged higher than last year, and roughly one in four homes sold above the asking price in the latest period, a modest increase in that share. The average sale-to-list ratio has nudged above 96 percent, so most sellers are still getting close to what they ask. With conditions shifting but still favoring sellers overall, both buyers and sellers in South Shore can benefit from Agent Pronto’s help connecting with a skilled local agent.
