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.
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Median Sale Price per Sq. Ft.
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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.
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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!
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!