How's Chicago's Real Estate Market?
Chicago, IL 60614
Single-Family Homes
312-961-6212
Chicago, IL 60614
Thu Dec 26 2024
This week the median list price for Chicago, IL 60614 is $3,650,000 with the market action index hovering around 31. This is an increase over last month's market action index of 27. Inventory has decreased to 33.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
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 | $3,650,000 | |
| Median Price of New Listings | $1,650,000 | |
| Per Square Foot | $690 | |
| Average Days on Market | 228 | |
| Median Days on Market | 182 | |
| Price Decreased | 30% | |
| Price Increased | 3% | |
| Relisted | 30% | |
| Inventory | 33 | |
| Median Rent | ||
| Market Action | 31 | |
| Slight Seller's Advantage | ||
You can see that prices in this zip code are marching upward and that we’re getting close to the market’s all time high. Watch for persistent downward shift in the Market Action Index into the Buyer’s zone as a leading indicator of the price strength subsiding.
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 |
|---|---|---|---|---|---|---|---|---|
| $7,172,500 | 7,938 | 6,500 - 8,000 sqft | 5 | 5.8 | 16 | 0 | 0 | 283 |
| $5,099,500 | 6,600 | 0 - 4,500 sqft | 6 | 6.8 | 22 | 0 | 1 | 147 |
| $3,400,000 | 6,200 | 0 - 4,500 sqft | 5 | 6 | 76 | 0 | 0 | 147 |
| $1,645,000 | 3,000 | 0 - 4,500 sqft | 4 | 3.5 | 80 | 1 | 1 | 126 |