Market Report
Chicago, IL 60647
Single-Family Homes
The Pareto Group I zak@paretogroup.realestate I (312) 883-8550
Chicago, IL 60647
Fri May 02 2025
This week the median list price for Chicago, IL 60647 is $1,097,500 with the market action index hovering around 53. This is an increase over last month's market action index of 50. Inventory has decreased to 20.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Market Narrative
The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.
Real-Time Market Profile
| Median List Price | $1,097,500 | |
| Median Price of New Listings | $715,000 | |
| Per Square Foot | $363 | |
| Average Days on Market | 89 | |
| Median Days on Market | 42 | |
| Price Decreased | 35% | |
| Price Increased | 0% | |
| Relisted | 25% | |
| Inventory | 20 | |
| Median Rent | ||
| Market Action | 53 | |
| Strong Seller's Market | ||
Despite this week's down tic, price trends in this zip code have generally been moving up lately. We are below the market's high point, and we'll investigate the Market Action Index later on to see if we expect this week's blip to become a downward 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 |
|---|---|---|---|---|---|---|---|---|
| $2,250,000 | 5,339 | - | 5 | 4 | 16 | 0 | 0 | 98 |
| $1,400,000 | 3,300 | 4,500 - 6,500 sqft | 5 | 3.5 | 8 | 1 | 3 | 42 |
| $775,000 | 1,617 | 0 - 4,500 sqft | 3 | 2 | 135 | 1 | 3 | 14 |
| $390,000 | 1,366 | 0 - 4,500 sqft | 3 | 1.5 | 118 | 2 | 2 | 14 |