How's Chicago's Real Estate Market?
Chicago, IL 60614
Co-Ops
312-961-6212
Chicago, IL 60614
Thu Dec 26 2024
This week the median list price for Chicago, IL 60614 is $775,000 with the market action index hovering around 27. This is less than last month's market action index of 30. Inventory has held steady at or around 5.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Buyer's Advantage
Market Narrative
The market has been cooling in recent weeks. Since this is a Buyer's market where there is excess inventory to satisfy the demand levels, prices have also been moving lower.
Real-Time Market Profile
| Median List Price | $775,000 | |
| Median Price of New Listings | $0 | |
| Per Square Foot | $242 | |
| Average Days on Market | 161 | |
| Median Days on Market | 126 | |
| Price Decreased | 0% | |
| Price Increased | 0% | |
| Relisted | 40% | |
| Inventory | 5 | |
| Median Rent | ||
| Market Action | 27 | |
| Slight Buyer's Advantage | ||
Again this week in this zip code we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.
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 |
|---|---|---|---|---|---|---|---|---|
| $2,200,000 | 5,600 | - | 5 | 5.5 | 97 | 0 | 0 | 126 |
| $2,000,000 | 5,600 | - | 5 | 4.5 | 97 | 0 | 0 | 329 |
| $775,000 | 3,200 | - | 4 | 3.5 | 96 | 0 | 1 | 98 |
| $493,000 | 3,028 | - | 3 | 3 | 97 | 0 | 0 | 126 |