How's Chicago's Real Estate Market?
Chicago, IL 60610
Condos/Townhomes
312-961-6212
Chicago, IL 60610
Thu Dec 26 2024
This week the median list price for Chicago, IL 60610 is $497,000 with the market action index hovering around 30. This is less than last month's market action index of 31. Inventory has decreased to 168.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
Market Narrative
In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. 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
| Median List Price | $497,000 | |
| Median Price of New Listings | $340,000 | |
| Per Square Foot | $372 | |
| Average Days on Market | 135 | |
| Median Days on Market | 84 | |
| Price Decreased | 24% | |
| Price Increased | 0% | |
| Relisted | 29% | |
| Inventory | 168 | |
| Median Rent | ||
| Market Action | 30 | |
| Slight Seller's Advantage | ||
Prices in this zip are remaining at a plateau, albeit significantly below the market’s peak. This week prices bumped down a bit, but not enough to indicate a resumed downward trend. Look for a persistent up-shift in the Market Action Index before we see prices significantly 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 |
|---|---|---|---|---|---|---|---|---|
| $1,424,500 | 3,050 | 0 - 4,500 sqft | 3 | 3.5 | 50 | 1 | 6 | 115 |
| $677,500 | 2,000 | 0 - 4,500 sqft | 3 | 2 | 50 | 2 | 7 | 133 |
| $432,500 | 1,200 | - | 2 | 2 | 47 | 1 | 3 | 77 |
| $242,499 | 750 | - | 1 | 1 | 56 | 5 | 4 | 49 |