Baird & Warner's Market Report
Chicago, IL 60601
Condos/Townhomes
www.BairdWarner.com
Chicago, IL 60601
Tue May 20 2025
This week the median list price for Chicago, IL 60601 is $565,000 with the market action index hovering around 29. This is about the same as last month's market action index of 29. Inventory has increased to 137.
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 | $565,000 | |
| Median Price of New Listings | $649,000 | |
| Per Square Foot | $482 | |
| Average Days on Market | 106 | |
| Median Days on Market | 63 | |
| Price Decreased | 27% | |
| Price Increased | 0% | |
| Relisted | 21% | |
| Inventory | 137 | |
| Median Rent | ||
| Market Action | 29 | |
| Slight Buyer's Advantage | ||
The market’s light 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 |
|---|---|---|---|---|---|---|---|---|
| $2,242,500 | 2,469 | - | 3 | 2.5 | 5 | 2 | 1 | 91 |
| $845,000 | 1,475 | - | 2 | 2 | 19 | 2 | 1 | 56 |
| $492,000 | 1,225 | - | 2 | 2 | 21 | 0 | 7 | 66 |
| $289,900 | 825 | - | 1 | 1 | 36 | 3 | 3 | 49 |