How's Chicago's Real Estate Market?
Chicago, IL 60611
Condos/Townhomes
312-961-6212
Chicago, IL 60611
Tue May 18 2021
This week the median list price for Chicago, IL 60611 is $499,000 with the market action index hovering around 30. This is an increase over last month's market action index of 28. Inventory has decreased to 949.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
Home sales have begun exceeding new inventory. This is a Buyer’s market so prices are not yet moving higher as excess inventory is consumed. If the tightening continues and the market moves into the Seller’s zone, we may see upward pressure on pricing.
Real-Time Market Profile
| Median List Price | $499,000 | |
| Median Price of New Listings | $599,000 | |
| Per Square Foot | $384 | |
| Average Days on Market | 182 | |
| Median Days on Market | 112 | |
| Price Decreased | 21% | |
| Price Increased | 1% | |
| Relisted | 22% | |
| Inventory | 949 | |
| Median Rent | $2,200 | |
| Market Action | 30 | |
| Slight Seller's Advantage | ||
Again this week we see prices in this zip code remain roughly at the level they’ve been for several weeks. Since we’re significantly below the top of the market, look for a persistent up-shift in the Market Action Index before we see prices 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 |
|---|---|---|---|---|---|---|---|---|
| $1,719,000 | 2,800 | 0 - 4,500 sqft | 3 | 3 | 21 | 31 | 13 | 196 |
| $649,000 | 1,590 | - | 2 | 2 | 41 | 30 | 19 | 133 |
| $375,000 | 1,037 | - | 1 | 1 | 44 | 24 | 15 | 98 |
| $224,900 | 741 | - | 1 | 1 | 52 | 18 | 20 | 105 |