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 earlier this year it reached the lowest levels in the last 4 years. Sales surged to record levels and combined with an extraordinarily low level of units on the market the months of supply has been steadily trending downward - with the exception of May. Surprisingly, even June had lower condo inventory than last year - bucking the trend of all other Chicago neighborhoods.

As shown in the chart below, market times in South Shore have been nicely trending downward - moreso than other neighborhoods in Chicago. From peak levels of around 325 days we are now down below 250 days.

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