Tracey Velt's Market Report

Chicago, IL

Single-Family Homes

HW Wire | Editorial Director | tracey@hwmedia.com | 407-716-0498



Chicago, IL

Sun Apr 14 2024
This week the median list price for Chicago, IL is $319,000 with the market action index hovering around 41. This is an increase over last month's market action index of 39. Inventory has held steady at or around 1,534. Click here to stay informed with the Chicago market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.

Chicago, IL

Sun Apr 14 2024
This week the median list price for Chicago, IL is $319,000 with the market action index hovering around 41. This is an increase over last month's market action index of 39. Inventory has held steady at or around 1,534. Click here to stay informed with the Chicago market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.

Real-Time Market Profile

Never miss important changes in the Chicago market.
Median List Price $319,000
Median Price of New Listings $275,000
Per Square Foot $196
Average Days on Market 107
Median Days on Market 49
Price Decreased 36%
Price Increased 3%
Relisted 24%
Inventory 1,534
Median Rent
Market Action 41
Slight Seller's Advantage

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
$1,200,000 3,674 0 - 4,500 sqft 4 3.5 61 32 44 56
$399,000 1,899 0 - 4,500 sqft 3 2.5 97 52 62 42
$264,900 1,418 0 - 4,500 sqft 3 2 97 64 68 42
$145,450 1,200 0 - 4,500 sqft 3 1.5 105 57 68 49