Chicago Real Estate Market Overview
Contrary to a few recent headlines, the market continues to sizzle! Inventory remains tight, inching up only slightly from April to May (2,405 to 2,426), while the supply of homes for sale continues to shrink across many neighborhoods as buyers grab the current inventory. The average time dropped from 59 days in April to just 42 in May, marking the third straight month of a quickening sales pace. With many homes continuing to sell at list price or above, be prepared for bidding wars for well-appointed homes in popular neighborhoods. Demand is strong, and the best listings are moving fast.
Chicago Homes – Dynamic Market Overview
Active Listings by City
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| City | Num Active Listings | Avg Listing Price | Avg Price Reduction | Avg Days on Market | Avg Price per SqFt |
|---|---|---|---|---|---|
| Chicago | 2,533 | $484,042 | -8.0% | 203 | $199 |
| 2,533 | $484,042 | -8.0% | 203 | $199 |
LIGHTBOX-IMAGES
Sold Listings by City
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| City | Num Active Listings | Avg Listing Price | Avg Price Reduction | Avg Days on Market | Avg Price per SqFt |
|---|---|---|---|---|---|
| Chicago | 11,573 | $544,551 | -5.1% | 84 | $330 |
| 11,573 | $544,551 | -5.1% | 84 | $330 |
LIGHTBOX-IMAGES
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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