How's Chicago's Real Estate Market?
Chicago, IL 60614
Single-Family Homes
312-961-6212
Chicago, IL 60614
Sat Jul 27 2024
This week the median list price for Chicago, IL 60614 is $2,747,500 with the market action index hovering around 27. This is less than last month's market action index of 29. Inventory has decreased to 60.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Buyer's Advantage
The Market Action Index has been trending lower for several weeks while prices have remained relatively stable. If inventory continues to grow relative to demand however, it is likely that we will see downward pressure on pricing.
Real-Time Market Profile
| Median List Price | $2,747,500 | |
| Median Price of New Listings | $1,574,000 | |
| Per Square Foot | $595 | |
| Average Days on Market | 133 | |
| Median Days on Market | 91 | |
| Price Decreased | 43% | |
| Price Increased | 0% | |
| Relisted | 33% | |
| Inventory | 60 | |
| Median Rent | ||
| Market Action | 27 | |
| Slight Buyer's Advantage | ||
Prices in this zip code seem to have settled around a plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate 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 |
|---|---|---|---|---|---|---|---|---|
| $5,950,000 | 7,900 | 0 - 4,500 sqft | 5 | 6 | 16 | 0 | 1 | 182 |
| $3,550,000 | 5,830 | 0 - 4,500 sqft | 6 | 6 | 11 | 0 | 0 | 84 |
| $1,975,000 | 4,312 | 0 - 4,500 sqft | 4 | 3.5 | 125 | 2 | 1 | 63 |
| $1,250,000 | 2,810 | 0 - 4,500 sqft | 4 | 3.5 | 134 | 4 | 2 | 35 |