Chicago prices ticked down 2.2 percent in November, with the typical home selling for $225,000. Sales plunged more than 11 percent compared to a year earlier.
The supply of homes for sale was up 3.3 percent year over year and the city had a 6.5-month supply of properties for sale, Chicago’s highest since 2012 and a sign that buyers are starting to gain an advantage.
Buyers have more choice and are more cautious, but sellers haven’t yet gotten the message. They’re pricing their homes too high, which might have contributed to slowing sales last month. Despite a dip in sale prices, asking prices rose nearly 10 percent to $250,000. The typical home sold in 25 days.
Bidding wars are receding and fewer buyers are willing to pay top dollar. “We haven’t seen as many bidding wars recently, especially not on properly or overpriced homes, and this is partially due to seasonality,” said Redfin real estate agent Alex Haried. “I’ve been counseling my buyers to be aggressive by sticking to their price, and we’ve had success. Likely things will change come January and buyers will have to become more competitive again.”
Hot Neighborhoods
The most expensive neighborhood by median sale price was Bucktown, where a typical home sold for $550,000 and 21 percent of properties sold for more than asking price. In the West Loop, 36 percent of homes fetched more than list price, the most in the city.
River North, another of the city’s most-expensive neighborhoods, had a 24.4 percent increase in sales and 7 percent increase in prices, to $409,000. The neighborhood’s newer, modern condominiums, with their relatively low association fees, are a big attraction, Redfin agent Jenn Kim said. The neighborhood’s nightlife and proximity to the Loop make it popular among the ‘work-hard, play-hard’ crowd.
Tri-Taylor’s meteoric rise in prices continued, with the median sale price up 129 percent from a year ago, to $309,500. The big jump was due in part to the Eco Square development at South Campbell and West Grenshaw, where houses are priced in the $400,000s and sales are brisk.
The fastest market was Logan Square, where a typical home sold in nine days. The neighborhood also saw an 11 percent price increase in median sale price to $345,250. This is in large part due to the fact that single-family homes, which have seen fast appreciation, are particularly popular in the neighborhood, Redfin real estate agent Al Medina said.
See our city page for the most up-to-date data on Chicago home prices.
Here’s what’s happening in your neighborhood:
| Neighborhood | Median Sale Price | Year-Over-Year | Homes sold | Year-Over-Year | Inventory | Year-Over-Year |
|---|---|---|---|---|---|---|
| Albany Park | $226,500 | 19.2% | 74 | 1.4% | 145 | 8.2% |
| Andersonville | $317,500 | 16.3% | 34 | -27.7% | 73 | -3.9% |
| Archer Heights | $172,000 | 11.0% | 21 | -22.2% | 27 | 35.0% |
| Austin | $76,000 | 5.6% | 65 | -3.0% | 133 | 3.9% |
| Avondale | $268,950 | -17.0% | 50 | -21.9% | 86 | -7.5% |
| Beverly | $270,000 | -2.5% | 45 | 12.5% | 141 | 31.8% |
| Bridgeport | $262,500 | -6.6% | 32 | -15.8% | 79 | -2.5% |
| Brighton Park | $139,750 | 2.6% | 28 | 47.4% | 33 | 17.9% |
| Bucktown | $550,000 | 12.2% | 56 | -13.8% | 85 | -10.5% |
| Clearing | $177,000 | 18.0% | 68 | 6.3% | 121 | 19.8% |
| Edgewater | $216,300 | 11.5% | 157 | -1.9% | 301 | -3.5% |
| Edison Park | $305,000 | 3.8% | 39 | 21.9% | 62 | 5.1% |
| Englewood | $17,000 | 2.4% | 19 | 35.7% | 60 | -16.7% |
| Garfield Ridge | $198,900 | 8.8% | 89 | -11.0% | 143 | -2.7% |
| Gold Coast | $260,000 | -11.1% | 145 | 2.1% | 331 | -0.6% |
| Humboldt Park | $279,000 | 52.7% | 97 | -4.0% | 159 | 1.3% |
| Hyde Park | $146,950 | -12.5% | 62 | 26.5% | 170 | -25.4% |
| Irving Park | $270,000 | -2.2% | 100 | 4.2% | 262 | 33.7% |
| Jefferson Park | $237,000 | -2.9% | 74 | 17.5% | 83 | -12.6% |
| Kenwood | $169,000 | 16.6% | 41 | -6.8% | 121 | -5.5% |
| Lincoln Park / DePaul | $455,000 | -0.5% | 267 | -26.0% | 577 | -2.2% |
| Lincoln Square | $255,000 | -6.0% | 32 | -31.9% | 101 | 18.8% |
| Logan Square | $345,250 | 11.4% | 112 | -5.9% | 154 | 10.0% |
| McKinley Park | $200,000 | 35.6% | 17 | 112.5% | 23 | 0.0% |
| Montclare | $213,250 | 9.9% | 36 | 20.0% | 42 | -30.0% |
| Mount Greenwood | $205,000 | 0.0% | 53 | 12.8% | 81 | 2.5% |
| Near North Side | $395,000 | 1.8% | 606 | 9.8% | 1,238 | 1.0% |
| North Center | $439,900 | -19.0% | 79 | 79.5% | 97 | -5.8% |
| Old Town | $307,500 | -14.7% | 99 | -18.2% | 141 | 1.4% |
| Portage Park | $229,500 | -0.2% | 113 | -1.7% | 229 | 23.8% |
| Pullman | $96,000 | 127.2% | 14 | -12.5% | 24 | -29.4% |
| Ravenswood | $342,500 | 6.9% | 56 | 9.8% | 65 | -14.5% |
| River North | $409,000 | 7.3% | 204 | 24.4% | 330 | 5.4% |
| Rogers Park | $180,000 | 14.6% | 104 | 6.1% | 220 | 22.9% |
| Roscoe Village | $467,500 | -4.1% | 56 | -8.2% | 130 | 41.3% |
| Sauganash | $400,000 | 16.4% | 36 | 28.6% | 76 | 49.0% |
| South Lawndale / Little Village | $70,299 | 49.6% | 11 | -8.3% | 29 | -9.4% |
| South Loop | $350,100 | 4.5% | 228 | -8.4% | 398 | 18.1% |
| South Shore | $55,000 | 45.1% | 59 | -21.3% | 157 | -21.1% |
| Streeterville | $442,500 | 2.3% | 125 | -14.4% | 360 | -11.3% |
| The Loop | $343,912 | -1.7% | 180 | 4.7% | 356 | 0.0% |
| Tri-Taylor | $309,500 | 129.3% | 8 | -11.1% | 20 | -9.1% |
| Ukrainian Village | $440,000 | 8.2% | 18 | 12.5% | 38 | -11.6% |
| Uptown | $223,250 | 0.6% | 148 | -6.3% | 317 | -17.7% |
| West Loop | $365,000 | 0.6% | 152 | -3.8% | 122 | -13.5% |
| West Town | $435,000 | 7.7% | 347 | 4.2% | 426 | -15.5% |
| Wicker Park | $438,750 | 8.3% | 112 | 2.8% | 130 | -24.9% |
| Wrigleyville / Lakeview | $347,750 | -1.6% | 385 | -13.9% | 721 | -11.2% |
| Chicago | $225,000 | -2.2% | 1,489 | -11.1% | 9,746 | 3.3% |
| Neighborhood | New Listings | Median Days on Market | Avg Sale-to-List |
|---|---|---|---|
| Albany Park | 122 | 22 | 94.8% |
| Andersonville | 71 | 23 | 96.0% |
| Archer Heights | 28 | 22 | 96.9% |
| Austin | 113 | 24 | 99.8% |
| Avondale | 87 | 20 | 95.4% |
| Beverly | 105 | 22 | 94.7% |
| Bridgeport | 61 | 10 | 97.2% |
| Brighton Park | 31 | 29 | 96.5% |
| Bucktown | 102 | 10 | 97.7% |
| Clearing | 92 | 34 | 93.6% |
| Edgewater | 231 | 33 | 94.2% |
| Edison Park | 51 | 29 | 94.7% |
| Englewood | 30 | 36 | 104.0% |
| Garfield Ridge | 131 | 33 | 95.1% |
| Gold Coast | 239 | 30 | 94.5% |
| Humboldt Park | 146 | 19 | 95.7% |
| Hyde Park | 85 | 49 | 91.4% |
| Irving Park | 224 | 18 | 94.7% |
| Jefferson Park | 80 | 17 | 94.3% |
| Kenwood | 71 | 83 | 90.8% |
| Lincoln Park / DePaul | 531 | 20 | 96.2% |
| Lincoln Square | 78 | 21 | 93.6% |
| Logan Square | 178 | 9 | 97.6% |
| McKinley Park | 17 | 32 | 93.4% |
| Montclare | 41 | 36 | 96.7% |
| Mount Greenwood | 70 | 19 | 96.5% |
| Near North Side | 905 | 29 | 96.1% |
| North Center | 98 | 10 | 96.7% |
| Old Town | 146 | 19 | 96.2% |
| Portage Park | 195 | 27 | 94.2% |
| Pullman | 19 | 33 | 104.6% |
| Ravenswood | 78 | 26 | 95.4% |
| River North | 278 | 26 | 97.5% |
| Rogers Park | 164 | 27 | 94.5% |
| Roscoe Village | 126 | 11 | 96.3% |
| Sauganash | 68 | 15 | 96.1% |
| South Lawndale / Little Village | 16 | 41 | 92.4% |
| South Loop | 349 | 24 | 97.5% |
| South Shore | 99 | 34 | 93.6% |
| Streeterville | 209 | 40 | 94.6% |
| The Loop | 295 | 36 | 96.2% |
| Tri-Taylor | 14 | 28 | 97.7% |
| Ukrainian Village | 38 | 20 | 97.5% |
| Uptown | 251 | 25 | 94.7% |
| West Loop | 172 | 10 | 99.9% |
| West Town | 512 | 13 | 97.6% |
| Wicker Park | 162 | 10 | 97.4% |
| Wrigleyville / Lakeview | 661 | 25 | 96.0% |
| Chicago | 2,538 | 25 | 95.8% |
NOTE: Not all neighborhoods are listed, but totals for Chicago encompass entire city. Data is based on listing information and might not reflect all real estate activity in the market. Neighborhood data is measured over the three months ended Nov. 30. Inventory measures listings active as of Nov 30.
For more information, contact Redfin journalist services
Phone: 206-588-6863
Email: press@redfin.com
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