How's the Market? On this page, you will find an executive summary of weekly market trends. 

Current statistics are for condominiums and townhomes in the Near North area of Chicago. This includes the Gold Coast, Streeterville, River North and Mag Mile. 

Week of January 15, 2018

  • The median list price for zip code 60610 for condos and townhomes this week is $550,000.
  • Inventory has been lightening lately and the Market Action Index has been trending up. Even though days on the market is increasing, these are mildly positive indications for the market.
  • The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of inventory. Index above 30 implies Seller's Market condition. Below 30, conditions favor the buyer. For the week, the index is at 18, which means strong Buyer's Market.  

Supply and Demand:

  • Home sales have begun exceeding new inventory. This is a buyer's market so prices are not yet moving higher as excess inventory is consumed. 
  • If the trend continues and we are moving into a seller's market, we may see prices increase. 

Price:

  • While the median price has not moved in the last few weeks, we are relatively close to the market's high end. 
  • Should the Market Action Index continue to shift downwards over time, buyer's market conditions may intensify 

 

 

 

HERE IS YOUR JUNE 2021 MARKET update!

 

Harbor Point


MARKET SNAPSHOT - CITY OF CHICAGO

The city of Chicago market snapshot represents the residential real estate activity within the 77 officially defined Chicago community areas as provided by the Chicago Association of REALTORS.

  • 3,839 homes were sold in Chicago inJune of 2021.  This is an increase of 85.4% from June 2020!
  • The median sales price was $350,500, an increase of 6.9% over the same time last year
  • Average time on the market was 59 days,  a 28.9% decrease from June 2020
STATE OF THE MARKET
  • The US housing market continues along at a frenzied pace,  with low interest rates and low inventory leading to record high sales prices.  The Chicago market mirrors the national trend,…

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100 E Huron views

Market Snapshot - City of Chicago - May 2021

The city of Chicago market snapshot represents the residential real estate activity within the 77 officially defined Chicago community areas as provided by the Chicago Association of Realtors. 


  • 3,403 homes were sold in Chicago in May 2021. This was 100.1% increase from May 2020!
  • The median sales price of every home sold in May was $350,000, and increase of almost 12% over May last year. 
  • Time on market was 72 days, a 13.3% decrease from the same time last year.
State of the market
  • The spring market is back at pre-pandemic levels and does not show any signs of cooling nationwide. Chicago is no exception, as inventory in many areas is tight and prices are moving up. Strong buyer…

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100 E Huron view


Market Snapshot - City of Chicago - February 2021

The City of Chicago Market Snapshot represents the residential real estate activity within the 77 officially defined Chicago community areas as provided by the Chicago Association of REALTORS. 

  • 1,643 properties were sold in Chicago in February 2021 - a 9.9% increase from February 2020
  • The median sales price of all Chicago sold properties was $320,000, an increase of over 10% from this time last year
  • New listings stayed on the market for an average of 99 days, a 13.2% decrease from February 2020

State Of The Market

  • Interest rates went up slightly in February, but are still lower than at the same time last year. According to Freddie Mac, rates may inch up a bit more in the…

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Winter Views

January 2021 Chicago Market Snapshot

The city of Chicago market snapshot represents the residential real estate activity within the 77 officially defined Chicago community areas as provided by the Chicago Association of Realtors. 

  • 1,684 properties were sold in Chicago in January 2021. This is a 15.1 % increase from January 2020.
  • The median sales price of all properties sold in Chicago in January was $310,000, an increase of 15.9% over January 2020
  • The average time on the market was 85 days, a 16.7% decrease from January 2020

State of the market

  • The new year started off strong for the housing market, with increased buyer demand and strong market fundamentals. As we can see form the snapshot numbers, buyer demand was up,…

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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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Constellation


 

As the financial markets reached new highs and mortgage rates new lows, demand for real estate remained strong throughout the nation. In Chicago, continued high demand was seen in the suburbs and in certain residential parts of the city. The downtown market, especially condos in luxury high rises in the Gold Coast. Streeterville, River North, Loop, West Loop and South Loop, showed continued low demand. In that area, we saw a 14 months supply by the end of the year. This indicates a strong buyers market. On a positive note, we saw the average sales prices go up in the last three months of 2020. 

Market Snapshot - City of Chicago

(the city of Chicago market snapshot represents the residential real estate activity within the 77 officially…

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State Of The Market

 As we were heading into fall in this unusual year, real estate continued to show some surprising trends. 

  • October continued to be busier than typical for the month. Buyer activity remained higher than normal, while housing supply was lower than one year ago in many areas. New listings in some city neighborhoods still saw multiple offers, keeping housing hot while the temperatures continued to fall. In other areas, especially in city center locations, supply was higher than demand, resulting in higher inventory and longer market time. Median prices have been able to stay strong, which is an indication that sellers are not desperate and are waiting for the market to recover, rather than slashing prices.
  • New Listings…

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Market Snapshot City of Chicago September 2020

The City of Chicago market snapshot represents the residential real estate activity within the 77 officially defined Chicago community areas as provided by the Chicago Association of Realtors. All data provided by the Chicago Association of Realtors.

  • 2,597 properties were sold in Chicago in September 2020. This is a 29.5% increase from September 2019. 
  • The median sales price of all properties sold in Chicago in September was $323,250, up 10.7% from the same period last year.
  • The average time on the market until contract was 65 days, a 15.6% decrease from last year. 

State of the Market

  • Strong buyer activity has continued onto the fall, as predicted. In past years, this…

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Market Snapshot City of Chicago August 2020

The city of Chicago market snapshot represents the residential real estate activity within the 77 officially defined Chicago community areas as provided by the Chicago Association of REALTORS

  • 2,840 properties were sold in Chicago in August. This is a 9.2% increase from August 2019
  • The median sales price of all properties sold in the city in August was $335,000, an increase of 15.9% from August 2019
  • The average time on market was 70 days, a 1.4% increase from August 2019

State of the Market

  • The housing and stock markets continue to be the leaders in the economy. In August, showings and pending sales were at high levels, while inventory remained limited in many parts of Chicago and…

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View from 10 ED at sunset

 

Market Snapshot - City of Chicago July 2020

The City of Chicago Market Snapshot represents  the residential real estate activity within the 77 officially defined Chicago community areas as provided by the Chicago Association of REALTORS. All figures as reported by the Chicago Association of REALTORS.

  • 2,764 residential properties were sold in Chicago in July 2020. This is a 2.1% increase from July 2019
  • The median sales price of all properties sold was $329,500, an increase of 7.3% over July 2019
  • Listings stayed on the market an average of 69 days, an increase of 4.5% from the same time last year. 

State Of The Market

  • Strong buyer demand and constrained supply seem to define the markets for much of the country.…

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