Chicago Neighborhoods > South Shore Housing Market

Chicago's South Shore has always had a lot of condos/townhomes with 2 - 3 bedrooms on the market and a fairly low level of sales. This has resulted in very large and volatile months of supply of homes but you can see how it is now at the lowest levels in the last 3 years. Sales surged to record levels and combined with an extraordinarily low level of units on the market the months of supply has been running well below 20 months. While that is much better than it has been in the last few years, it's not really anything to write home about.

As shown in the chart below, market times in South Shore have been exhibiting that downward trend that has become so familiar, and is now approaching half of the peak level.

Note that the MLS changed their reporting methodology for market times,affecting data back to October 2007.