Is Chicago, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Chicago is a seller's market

Buyer's
Market

Difference Since December 2020

Since last year, Chicago has remained a Seller's Market.

Key Takeaway

Chicago is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Chicago, IL cost?

Median Sold Price

$346,223

$241/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2020

+$28,581(+9.0%)

Key Takeaway

Homes in Chicago have sold for 9% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSDec 2020Dec 2021%
1 $220.3K$219.8K
-0.2%
2 $315.3K$332.3K
+5.4%
3 $351.1K$397.3K
+13.1%
4 $358.5K$413.2K
+15.3%
5+ $349.8K$425.2K
+21.5%

Median Sold Price Compared To Nearby Cities

Cicero Township
+10.4%
Cicero
+10.4%
Chicago
+9.0%
Oak Park Township
+7.6%
Oak Park
+7.5%

How many homes are available in Chicago, IL?

Number of Homes For Sale

Nov 2021Dec 2021%
15,80014,827-6.2%

Homes For Sale By Bedroom Count

# BEDSNov 2021Dec 2021%
1 2,0171,895
-6.0%
2 4,4864,176
-6.9%
3 4,2633,958
-7.2%
4 2,2452,132
-5.0%
5+ 2,7892,666
-4.4%

Number of Homes Sold

Nov 2021Dec 2021%
2,6542,570-3.2%

Asking Price vs. Sold Price

1,521 Homes Were Sold
Under Asking

410 Homes Were Sold
At Asking

639 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Chicago, you may be able to get a good deal. 59.2% of homes here sold below asking price last month.

Average Sale Time

Dec 2020Dec 2021%
38 Days37 Days-1.8%

Breakdown of Home Sale Times

1,576 Homes Were Sold
Under 30 Days

731 Homes Were Sold
In 30 - 90 Days

263 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Chicago are selling fast, if you're buying plan to act quickly.

3726 N Keeler Ave, Chicago, IL 60641

3726 N Keeler Ave, Chicago, IL 60641

$1,500,000~$5,650/mo.*
5 Beds • 5 Baths4,500 SqFt
Caryl Dillon#11244746Listing Office:
CompassMLS logo
235 W 107th St, Chicago, IL 60628

235 W 107th St, Chicago, IL 60628

$30,000~$100/mo.*
2 Beds • 2 Baths800 SqFt
Erick Escobedo#11309852Listing Office:
Realty of Chicago LLCMLS logo
2050 E 83rd St, Chicago, IL 60617

2050 E 83rd St, Chicago, IL 60617

$225,000~$850/mo.*
3 Beds • 2 Baths1,498 SqFt
LaToya Moore#11309844Listing Office:
Dream Town RealtyMLS logo
303 W 107th St, Chicago, IL 60628

303 W 107th St, Chicago, IL 60628

$30,000~$100/mo.*
2 Beds • 1 Bath800 SqFt
Erick Escobedo#11309843Listing Office:
Realty of Chicago LLCMLS logo
8439 S Oglesby Ave, Chicago, IL 60617

8439 S Oglesby Ave, Chicago, IL 60617

$199,900~$750/mo.*
5 Beds • 2 Baths1,200 SqFt
Wenceslas Noukoudjo#11309649Listing Office:
Century 21 UniversalMLS logo
1600 W Monterey Ave, Chicago, IL 60643

1600 W Monterey Ave, Chicago, IL 60643

$349,900~$1,300/mo.*
Lauren Lowery#11309795Listing Office:
Finders Plus Real EstateMLS logo
5401 S Hyde Park Blvd Unit 1005, Chicago, IL 60615

5401 S Hyde Park Blvd Unit 1005, Chicago, IL 60615

$219,500~$850/mo.*
2 Beds • 2 Baths1,100 SqFt
Biserka Ferenac#11309807Listing Office:
Baird & Warner Real EstateMLS logo
68 E 95th St, Chicago, IL 60619

68 E 95th St, Chicago, IL 60619

$162,900~$600/mo.*
3 Beds • 2 Baths1,000 SqFt
Danny Barrios#11309798Listing Office:
Berkshire Hathaway HomeServices Starck Real EstateMLS logo
6400 W Berteau Ave Unit 507, Chicago, IL 60634

6400 W Berteau Ave Unit 507, Chicago, IL 60634

$250,000~$950/mo.*
2 Beds • 2 Baths1,354 SqFt
Lisa Sanders#11309803Listing Office:
@propertiesMLS logo
11158 S Green Ave, Chicago, IL 60628

11158 S Green Ave, Chicago, IL 60628

$235,000~$900/mo.*
3 Beds • 2 Baths1,400 SqFt
Leon Ivy#11309790Listing Office:
Manage Chicago, Inc.MLS logo
1000 N Lake Shore Dr Unit 1002, Chicago, IL 60611

1000 N Lake Shore Dr Unit 1002, Chicago, IL 60611

$347,000~$1,300/mo.*
2 Beds • 2 Baths1,200 SqFt
Victor Jimenez#11309784Listing Office:
Berkshire Hathaway HomeServices American HeritageMLS logo
5039 N Francisco Ave, Chicago, IL 60625

5039 N Francisco Ave, Chicago, IL 60625

$679,900~$2,550/mo.*
4 Beds • 2 Baths1,557 SqFt
Edward Hanna#11309785Listing Office:
Superior Real Estate NetworkMLS logo

About Chicago, IL

Homes for sale in Chicago, IL have reached 14,827. In December 2021 in Chicago, IL there were 6.2% less homes for sale than in November 2021. In December 2021 median list price was $346,223 and the average listing age was 37 days. From November 2021 through December 2021, the following changes in listing prices were observed in this housing market: prices of 1 bedroom properties went down by 0.2%, prices of 2 bedrooms properties increased by 5.4%, 3 bedrooms properties prices increased by 13.1%, prices of 4 bedrooms properties increased by 15.3%, 5 bedrooms properties became 21.5% more expensive. The following changes in the number of homes for sale were observed in this housing market: volume of 1 bedroom homes went down by 6%, number of 2 bedrooms homes decreased by 6.9%, number of 3 bedrooms homes decreased by 7.2%, 4 bedrooms homes became 5% less available, 5 bedrooms homes inventory decreased by 4.4%. In December 2021, from all listings sold in Chicago, IL there were more than 639 sold above asking price, over 1521 sold below and more than 410 were sold right at the asked price.

MLS Disclaimers and Copyright

Based on information from Midwest Real Estate Data for the period 01/01/2020 - 01/01/2022

IDX Copyright © 2022 Midwest Real Estate Data LLC (MRED). All rights reserved.

The data relating to real estate for sale on this website comes in part from the Broker Reciprocity program of Midwest Real Estate Data LLC. Real Estate listings held by brokerage firms other than the broker/agent who owns the website are marked with the MRED Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (the MRED logo) and detailed information about them includes the names of the listing brokers.

All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. IDX information is provided exclusively for consumers’ personal non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed by MTP or MRED. The use of the MRED Data may be subject to an end user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time.

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Copyright © 2022 Midwest Real Estate Data LLC (MRED). All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.

Last updated on: 1/23/2022, 11:45:31 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

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