How's Chicago's Real Estate Market?
Chicago, IL 60614
Single-Family Homes
312-961-6212
Chicago, IL 60614
Fri May 09 2025
This week the median list price for Chicago, IL 60614 is $3,474,500 with the market action index hovering around 46. This is an increase over last month's market action index of 45. Inventory has increased to 42.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Market Narrative
In the last few weeks, the market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable. Watch for an up-shift in the MAI before price stability is achieved.
Real-Time Market Profile
| Median List Price | $3,474,500 | |
| Median Price of New Listings | $3,325,000 | |
| Per Square Foot | $572 | |
| Average Days on Market | 103 | |
| Median Days on Market | 39 | |
| Price Decreased | 24% | |
| Price Increased | 5% | |
| Relisted | 29% | |
| Inventory | 42 | |
| Median Rent | ||
| Market Action | 46 | |
| Strong Seller's Market | ||
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 |
|---|---|---|---|---|---|---|---|---|
| $7,372,500 | 7,514 | 8,000 - 10,000 sqft | 6 | 6 | 21 | 2 | 0 | 136 |
| $4,400,000 | 5,500 | 0 - 4,500 sqft | 5 | 5.5 | 13 | 3 | 1 | 63 |
| $2,988,888 | 6,300 | 0 - 4,500 sqft | 6 | 5.5 | 24 | 3 | 2 | 49 |
| $1,685,000 | 3,650 | 0 - 4,500 sqft | 4 | 3.5 | 135 | 2 | 3 | 21 |