Market Activity December 2020
In December, the residential real estate market in Chicago again showed large variances depending on the city neighborhood. The statistic above for the Gold Coast is consistent with other Near North communities, but does not reflect the market condition of the city as a whole.
Strong buyer demand across most segments of the market, combined by near record-low interest rates, continued to drive a healthy sales pace, amidst a new wave of COVID-19 infections and a softening job market.
New listings in the city of Chicago were down 8.9% for detached homes but were up 42.8% for condos and co-ops. Listings under contract were up for all categories. The median sales price was also up from the previous year, Months…
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