Baird & Warner's Market Report
Chicago, IL 60601
Condos/Townhomes
www.BairdWarner.com
Chicago, IL 60601
Sat Jul 27 2024
This week the median list price for Chicago, IL 60601 is $567,000 with the market action index hovering around 31. This is an increase over last month's market action index of 30. Inventory has decreased to 120.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
In the last few weeks, the Market Action Index has resumed a climb. Despite the fact that we’re in a Seller’s market, prices have not yet resumed upward momentum. However, it is likely that given these conditions, prices will at least level off very soon. If the increasing trend continues, expect that prices could shift higher quickly.
Real-Time Market Profile
| Median List Price | $567,000 | |
| Median Price of New Listings | $580,000 | |
| Per Square Foot | $468 | |
| Average Days on Market | 107 | |
| Median Days on Market | 63 | |
| Price Decreased | 24% | |
| Price Increased | 0% | |
| Relisted | 13% | |
| Inventory | 120 | |
| Median Rent | ||
| Market Action | 31 | |
| Slight Seller's Advantage | ||
The market's downward trends are shared across both price and value. People are recently placing less value on homes (you can see the recent declines in price per square foot as evidence.) Look for significant changes in the Market Action Index as a precursor to price and value changes, possibly as inflection points for good investment opportunities.
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 |
|---|---|---|---|---|---|---|---|---|
| $1,695,000 | 2,067 | - | 3 | 2.5 | 4 | 1 | 4 | 84 |
| $722,500 | 1,356 | 0 - 4,500 sqft | 2 | 2 | 18 | 4 | 6 | 80 |
| $454,950 | 1,130 | - | 2 | 2 | 28 | 4 | 1 | 56 |
| $289,997 | 825 | - | 1 | 1 | 43 | 1 | 4 | 35 |