Market Report
Chicago, IL 60647
Single-Family Homes
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 $756,000 with the market action index hovering around 47. This is an increase over last month's market action index of 45. Inventory has decreased to 18.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Market Narrative
The market has been strong for several consecutive weeks. Reflecting these inventory conditions, with the MAI in the Seller’s zone, it is not surprising that prices have recently resumed their climb.
Real-Time Market Profile
| Median List Price | $756,000 | |
| Median Price of New Listings | $650,000 | |
| Per Square Foot | $390 | |
| Average Days on Market | 109 | |
| Median Days on Market | 70 | |
| Price Decreased | 39% | |
| Price Increased | 6% | |
| Relisted | 44% | |
| Inventory | 18 | |
| Median Rent | ||
| Market Action | 47 | |
| Strong Seller's Market | ||
Despite this week’s down tic, price trends in this zip code have been moving up in the last few weeks. 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 |
|---|---|---|---|---|---|---|---|---|
| $2,137,000 | 4,350 | - | 5 | 4.3 | 13 | 0 | 0 | 98 |
| $1,517,650 | 3,300 | 8,000 - 10,000 sqft | 4 | 4 | 18 | 1 | 2 | 38 |
| $715,000 | 1,800 | 0 - 4,500 sqft | 3 | 2 | 127 | 1 | 2 | 28 |
| $399,900 | 1,152 | 0 - 4,500 sqft | 3 | 2 | 104 | 1 | 0 | 140 |