How's Chicago's Real Estate Market?
Chicago, IL 60611
Condos/Townhomes
312-961-6212
Chicago, IL 60611
Wed Apr 24 2024
This week the median list price for Chicago, IL 60611 is $712,500 with the market action index hovering around 29. This is an increase over last month's market action index of 28. Inventory has increased to 602.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Buyer's Advantage
Home sales have been exceeding new inventory for several weeks. Since this is a Buyer's market prices are not yet moving higher as excess inventory is consumed. However, as the supply and demand trends continue, the market moves into the Seller's zone, and we are likely to see upward pressure on pricing.
Real-Time Market Profile
| Median List Price | $712,500 | |
| Median Price of New Listings | $440,000 | |
| Per Square Foot | $442 | |
| Average Days on Market | 164 | |
| Median Days on Market | 63 | |
| Price Decreased | 17% | |
| Price Increased | 0% | |
| Relisted | 23% | |
| Inventory | 602 | |
| Median Rent | ||
| Market Action | 29 | |
| Slight Buyer's Advantage | ||
While the median price in this zip code hasn’t moved much in the last few weeks, we are relatively close to the market’s high-water mark. Watch for persistent downward shift in the Market Action Index into the Buyer’s zone as a leading indicator of the price strength subsiding.
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 |
|---|---|---|---|---|---|---|---|---|
| $2,382,500 | 3,390 | 0 - 4,500 sqft | 3 | 3.5 | 20 | 10 | 6 | 91 |
| $999,000 | 2,028 | 0 - 4,500 sqft | 3 | 2.5 | 24 | 16 | 5 | 70 |
| $525,000 | 1,368 | - | 2 | 2 | 41 | 14 | 7 | 70 |
| $280,000 | 855 | - | 1 | 1 | 41 | 35 | 21 | 35 |