Market Report
Chicago, IL 60647
Condos/Townhomes
The Pareto Group I zak@paretogroup.realestate I (312) 883-8550
Chicago, IL 60647
Thu Mar 13 2025
This week the median list price for Chicago, IL 60647 is $587,500 with the market action index hovering around 70. This is an increase over last month's market action index of 57. Inventory has decreased to 24.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Market Narrative
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
| Median List Price | $587,500 | |
| Median Price of New Listings | $487,000 | |
| Per Square Foot | $348 | |
| Average Days on Market | 46 | |
| Median Days on Market | 14 | |
| Price Decreased | 0% | |
| Price Increased | 0% | |
| Relisted | 33% | |
| Inventory | 24 | |
| Median Rent | ||
| Market Action | 70 | |
| Strong Seller's Market | ||
Prices in this zip code are bouncing around near term trough. Look for a persistent up-shift in the Market Action Index before we see prices move significantly from here.
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 |
|---|---|---|---|---|---|---|---|---|
| $912,450 | 2,100 | - | 3 | 2.5 | 1 | 0 | 0 | 45 |
| $787,500 | 1,700 | - | 3 | 2.3 | 3 | 1 | 2 | 7 |
| $487,000 | 1,363 | - | 2 | 2 | 20 | 5 | 6 | 0 |
| $340,000 | 1,200 | - | 2 | 1.3 | 95 | 2 | 2 | 91 |