How's Chicago's Real Estate Market?

Chicago, IL 60601

Condos/Townhomes

312-961-6212


Chicago, IL 60601

Fri May 09 2025
This week the median list price for Chicago, IL 60601 is $549,450 with the market action index hovering around 28. This is less than last month's market action index of 29. Inventory has increased to 134. Click here to stay informed with the Chicago market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Buyer's Advantage

Market Narrative

While prices have been at a plateau for a number of weeks, this is a Buyer’s market and the supply of homes listed has started growing relative to demand. This indicates that prices could easily resume a downward trend in conjunction with the MAI. Prices are unlikely to move significantly higher until there is a persistent upward shift in the MAI.

Chicago, IL 60601

Fri May 09 2025
This week the median list price for Chicago, IL 60601 is $549,450 with the market action index hovering around 28. This is less than last month's market action index of 29. Inventory has increased to 134. Click here to stay informed with the Chicago market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Buyer's Advantage

Market Narrative

While prices have been at a plateau for a number of weeks, this is a Buyer’s market and the supply of homes listed has started growing relative to demand. This indicates that prices could easily resume a downward trend in conjunction with the MAI. Prices are unlikely to move significantly higher until there is a persistent upward shift in the MAI.

Real-Time Market Profile

Never miss important changes in the Chicago market.
Median List Price $549,450
Median Price of New Listings $499,000
Per Square Foot $473
Average Days on Market 105
Median Days on Market 56
Price Decreased 27%
Price Increased 0%
Relisted 22%
Inventory 134
Median Rent
Market Action 28
Slight Buyer's Advantage

Prices in this zip are remaining at a plateau, albeit significantly below the market’s peak. This week prices bumped down a bit, but not enough to indicate a resumed downward trend. Look for a persistent up-shift in the Market Action Index before we see prices significantly move from these levels.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$2,295,000 2,500 - 3 2.5 5 2 2 112
$775,000 1,408 - 2 2 18 1 1 49
$474,750 1,225 - 2 2 22 8 6 42
$289,450 826 - 1 1 36 4 1 35