Roseland: A Chicago Neighborhood Showing Signs of Growth

Roseland, one of Chicago's 77 community areas, is experiencing notable changes in its real estate market. Located on the city's far south side, this historic neighborhood is showing signs of revitalization and increasing property values.

Housing Market Trends

As of December 2024, Roseland's real estate market shows mixed but generally positive performance:

• Median sales price for detached single-family homes: $205,000, up 37.6% from the previous year
• Median sales price for attached single-family homes: $145,000, up 45.0% from the previous year
• Average market time for detached homes: 86 days, down 30.1% from last year
• Average market time for attached homes: 107 days, up 52.8% from last year

The market is showing strength, with detached homes receiving 93.7% of their original list price, while attached homes are selling for 106.5% of the list price, a 20.0% increase from the previous year.

Neighborhood Highlights

1. Strong Price Growth:
   • Detached single-family homes showed significant appreciation, with a 37.6% increase in median sales price
   • Attached single-family homes experienced even stronger growth, with a 45.0% increase in median sales price
2. Changing Inventory Levels:
   • Inventory of detached single-family homes for sale decreased by 2.4% compared to December 2023
   • Attached single-family home inventory saw a 50.0% increase in December 2024
3. Sales Activity:
   • Closed sales for detached single-family homes decreased by 30.0% in December 2024 compared to the previous year
   • Year-to-date closed sales for detached homes decreased by 7.8%

How I Can Help Sellers, Buyers, and Investors

For Sellers:

• Provide comprehensive market analysis to price your property competitively
• Implement targeted marketing strategies to showcase your home's unique features
• Offer guidance on timing the market, considering the strong price appreciation in both attached and detached homes
• Navigate the complexities of the selling process, from offer negotiations to closing

For Buyers:

• Guide you through Roseland's housing options, with a focus on detached single-family homes
• Provide insights into the neighborhood's market trends and potential for appreciation
• Assist in finding properties that match your criteria and budget
• Offer expert negotiation skills to secure the best deal in this evolving market

For Investors:

• Identify properties with strong potential for appreciation, considering the significant price growth in both attached and detached homes
• Provide data-driven insights on market trends, including the decreasing market time for detached homes
• Assist in analyzing potential returns on investment for various property types in Roseland
• Connect you with local property management services for hassle-free rental property ownership

Market Outlook

Roseland's real estate market demonstrates strong growth potential, particularly in terms of property values. The significant increase in median sales prices for both attached and detached homes indicates growing demand and potential for appreciation.

While the number of closed sales has decreased, the substantial price growth and faster market times for detached homes suggest a tightening market with opportunities for sellers and investors. The increase in new listings for detached homes (up 42.9% in December) also points to growing interest in the neighborhood.

As Chicago's real estate landscape continues to evolve, Roseland's combination of strong price appreciation and changing inventory levels positions it as a neighborhood to watch for both buyers and investors in the coming year