Search homes for sale in Chicago, known for its jaw-dropping architecture, vibrant music scene, amazing food, and iconic neighborhoods.
The Chicago housing market remains moderately competitive. On average, homes for sale in Chicago receive about three offers and typically sell within 55 days. Last month, the median sale price of a home in Chicago reached $365K, reflecting a 4.3% increase compared to the previous year. Additionally, the median price per square foot for Chicago homes for sale is now $263, marking a 4.8% rise from last year. While the market shows steady growth, buyers should be prepared for competition, especially in desirable neighborhoods where homes tend to attract multiple offers.
Median Sale Price
Median Sale Price per Sq. Ft.
Total Homes Sold
Median Days on Market
In July 2024, homes for sale in Chicago saw a 4.3% increase in prices compared to the previous year, with a median selling price of $365K. On average, Chicago homes for sale remained on the market for 55 days, consistent with last year's timeframe. The number of homes sold also saw an uptick, with 2,494 properties sold this July, up from 2,354 the previous year. Additionally, the median sale price per square foot in Chicago rose by 4.8%, reaching $263. This steady growth in both pricing and sales volume reflects the continued demand for homes in the Chicago area.
The Chicago housing market is moderately competitive, with most homes for sale in Chicago selling within 54 days. While some properties receive multiple offers, the majority of homes tend to sell for around the list price and go pending in about 54 days. However, in high-demand areas, "hot" Chicago homes for sale can sell for up to 3% above the asking price and go under contract in as little as 35 days. This competitive edge makes timing and pricing strategies crucial for both buyers and sellers.
Nationwide, 3% of homebuyers are looking to relocate to Chicago from outside metropolitan areas. Among these potential movers, homebuyers from New York showed the most interest in homes for sale in Chicago, followed by those from Peoria and St. Louis. This trend highlights Chicago's appeal as a destination for individuals seeking a vibrant urban lifestyle combined with a diverse housing market.
For detailed, up-to-date information on buying a house in Chicago, including legal considerations and market trends, you can talk to us.
When looking at homes for sale in Chicago, it's important to consider your lifestyle, desired neighborhood, and proximity to amenities like schools, public transportation, and work. Chicago is known for its diverse neighborhoods, each offering unique characteristics—from urban lofts in the West Loop to family-friendly homes in Lincoln Park. Partnering with a local real estate agent can help you navigate the market and find the best fit for your needs.
Yes, Chicago offers a wide variety of property types, from single-family homes and condos to townhouses and multi-unit buildings. Whether you're seeking a sleek high-rise downtown or a classic brownstone, the city has something for everyone. Exploring the various options in Chicago homes for sale can help you decide which type of property best suits your lifestyle and budget.
While not required, working with a real estate agent is highly recommended when purchasing homes for sale in Chicago. A local agent can provide valuable insights into the neighborhoods, help negotiate the best price, and guide you through the complex paperwork and legal aspects of buying a home. Their expertise is particularly useful in a competitive market like Chicago.
To attract buyers and sell quickly, it's important to prepare your home by decluttering, making necessary repairs, and enhancing its curb appeal. Buyers looking for Chicago homes for sale are often drawn to properties that are move-in ready. Staging your home can also help it stand out in a competitive market, making it more appealing to potential buyers.
On average, homes in Chicago sell in about 54 days, though this can vary based on factors like location, condition, and pricing. Well-priced homes in desirable areas can go pending even faster, especially "hot" homes, which may sell within 35 days. It's important to work with a real estate agent to set the right price and develop an effective marketing strategy for your Chicago home for sale.
Sellers in Chicago can expect to pay a variety of closing costs, including real estate agent commissions, title insurance, and attorney fees. These costs typically range between 6-10% of the sale price. Understanding these expenses upfront can help you better plan for the sale of your property and maximize the return on your Chicago home for sale.
Have questions or interested in exploring homes for sale in Chicago? Our expert team is here to help guide you through the process and find the perfect property. Don't wait—reach out to us now to start your Chicago real estate journey!
Dive into our detailed neighborhood guide to discover everything Chicago has to offer. Whether you're searching for homes for sale in Chicago or just curious about the different areas, our guide will help you find the ideal spot to call home. Start exploring now and find the neighborhood that fits your lifestyle!
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Jeff will do his best to have your selling or buying experience as fun and stress-free as possible. He is very flexible and very easy to work with. After all, your needs come first!