Altos Market Data for Realtors

Chicago, IL

Single-Family Homes

Schedule a demo today at AltosResearch.com


Chicago, IL

Wed Oct 04 2023
This week the median list price for Chicago, IL is $319,000 with the market action index hovering around 39. This is less than last month's market action index of 40. Inventory has increased to 2,062. Click here to stay informed with the Chicago market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Chicago, IL

Wed Oct 04 2023
This week the median list price for Chicago, IL is $319,000 with the market action index hovering around 39. This is less than last month's market action index of 40. Inventory has increased to 2,062. Click here to stay informed with the Chicago market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Real-Time Market Profile

Never miss important changes in the Chicago market.
Median List Price $319,000
Median Price of New Listings $279,900
Per Square Foot $201
Average Days on Market 100
Median Days on Market 56
Price Decreased 48%
Price Increased 2%
Relisted 28%
Inventory 2,062
Median Rent
Market Action 39
Slight Seller's Advantage

The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this 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
$1,100,000 3,450 0 - 4,500 sqft 4 3.5 60 46 34 70
$399,900 1,763 0 - 4,500 sqft 3 2 92 59 55 42
$259,900 1,380 0 - 4,500 sqft 3 2 81 79 64 52
$136,550 1,232 0 - 4,500 sqft 3 1.5 105 83 69 70