Real Estate Market Overview
Don’t get blown away by the real estate market in the Windy City.
Are we in a bear market? A bull market? Though the terms take on different meanings in Chicago thanks to the city's pro basketball and football teams, it really depends on whether you're buying or selling. Guaranteed Rate has all the Chicago real estate information you need to know before you make a move. Keep scrolling for up-to-date market trends from the Loop to the suburbs and every neighborhood and enclave in between.
In the past week, homes in Chicago sold on average for $279,900 and spent 120 days on the market. In Chicago, the inventory of 4,333 experienced a 21% relisting. The average price per square foot was $187.
As previously noted, the population of Chicago is 2,722,586 and the median age is 34.1. Among Chicago residents, there is a homeowner vacancy rate of 2.7% and a rental vacancy rate of 6.5% from a total of 1,200,305 units.
All information provided in this publication is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. Guaranteed Rate, Inc. does not guarantee the quality, accuracy, completeness or timelines of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error free. Some information in the publication may have been provided by third parties and has not necessarily been verified by Guaranteed Rate, Inc. Guaranteed Rate, Inc. its affiliates and subsidiaries do not assume any liability for the information contained herein, be it direct, indirect, consequential, special, or exemplary, or other damages whatsoever and howsoever caused, arising out of or in connection with the use of this publication or in reliance on the information, including any personal or pecuniary loss, whether the action is in contract, tort (including negligence) or other tortious action.
This website uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
Housing market information is provided by Altos Research.