The Dobbs Report – Chicago Real Estate Market Overview
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December saw a sharper year-end contraction, with inventory falling from 1,823 to 1,327 and new listings dropping again as sellers largely paused for the holidays. Buyer activity slowed on the front end, with fewer homes going under contract, but closed sales rose to 906, reflecting deals negotiated earlier in the fall finally reaching the finish line. Average listing prices jumped to $759K, while the average closed price dipped to $649K, signaling a widening gap between seller expectations and what the market ultimately absorbed. Market time stretched to 63 days, and the list-to-close ratio eased to 98.0%, indicating slightly more negotiation as the year wrapped up. Even so, inventory remains extremely tight, keeping underlying market dynamics tilted toward sellers heading into the new year.
Chicago Homes – Dynamic Market Overview
| City | Num Active Listings | Avg Listing Price | Avg Price Reduction | Avg Days on Market | Avg Price per SqFt |
|---|---|---|---|---|---|
| Chicago | 1,785 | $447,215 | -31.3% | 230 | $193 |
| 1,785 | $447,215 | -31.3% | 230 | $193 |
| City | Num Active Listings | Avg Listing Price | Avg Price Reduction | Avg Days on Market | Avg Price per SqFt |
|---|---|---|---|---|---|
| Chicago | 9,560 | $541,991 | -5.3% | 84 | $325 |
| 9,560 | $541,991 | -5.3% | 84 | $325 |
Dynamic searches of market trends will give you an overview of the real estate market's current state. Set your preferred parameters to find statistical data from recent real estate transactions in Chicago. For an in-depth analysis of a specific market segment, please contact me. I'll be happy to create a tailor-made analysis that perfectly suits your specific criteria.
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