RealTrends Market Report

Chicago, IL

Single-Family Homes

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Chicago, IL

Sat Jul 20 2024
This week the median list price for Chicago, IL is $354,900 with the market action index hovering around 43. This is about the same as last month's market action index of 43. Inventory has held steady at or around 1,645. 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

The market remains in a relative stasis in terms of sales to inventory and prices have been relatively stable for a few weeks. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

Chicago, IL

Sat Jul 20 2024
This week the median list price for Chicago, IL is $354,900 with the market action index hovering around 43. This is about the same as last month's market action index of 43. Inventory has held steady at or around 1,645. 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

The market remains in a relative stasis in terms of sales to inventory and prices have been relatively stable for a few weeks. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

Real-Time Market Profile

Never miss important changes in the Chicago market.
Median List Price $354,900
Median Price of New Listings $325,000
Per Square Foot $215
Average Days on Market 99
Median Days on Market 56
Price Decreased 45%
Price Increased 2%
Relisted 24%
Inventory 1,645
Median Rent
Market Action 43
Slight Seller's Advantage

The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this trend.

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
$1,299,000 3,900 0 - 4,500 sqft 5 3.5 65 29 40 70
$450,000 1,938 0 - 4,500 sqft 4 2.5 97 48 65 42
$294,900 1,500 0 - 4,500 sqft 4 2 87 50 64 42
$165,000 1,207 0 - 4,500 sqft 3 1.5 105 57 77 63