How's Chicago's Real Estate Market?
Chicago, IL 60611
Single-Family Homes
312-961-6212
Chicago, IL 60611
Mon Dec 04 2023
This week the median list price for Chicago, IL 60611 is $1,542,000 with the market action index hovering around 26. This is an increase over last month's market action index of 25. Inventory has increased to 18.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Buyer's Advantage
Home sales have been exceeding new inventory for several weeks. However because of excess inventory, prices have not yet stopped falling. Should the sales trend continue, expect prices to level off soon and potentially to resume their climb from there. Watch prices as the market transitions from a Buyer's market to a Seller's market.
Real-Time Market Profile
| Median List Price | $1,542,000 | |
| Median Price of New Listings | $0 | |
| Per Square Foot | $466 | |
| Average Days on Market | 97 | |
| Median Days on Market | 63 | |
| Price Decreased | 28% | |
| Price Increased | 0% | |
| Relisted | 22% | |
| Inventory | 18 | |
| Median Rent | ||
| Market Action | 26 | |
| Slight Buyer's Advantage | ||
Again this week in this zip code we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.
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 |
|---|---|---|---|---|---|---|---|---|
| $5,174,999 | 6,250 | 0 - 4,500 sqft | 4 | 5.3 | 140 | 0 | 0 | 140 |
| $2,447,500 | 4,958 | 0 - 4,500 sqft | 5 | 5.8 | 120 | 0 | 0 | 189 |
| $1,095,000 | 3,300 | - | 4 | 3.5 | 103 | 0 | 0 | 63 |
| $495,000 | 1,852 | - | 2 | 2 | 95 | 0 | 1 | 63 |