Monthly Market Update—All 77 Neighborhoods—The Loop Spotlighted

11-19

Monthly, on this website, and on our Social Media sites, we post enhanced statistical reports for all 77 Chicago neighborhoods pulled directly from the MLS – Midwest Real Estate Data. This data  encompass every closed sale and every listed property. We publish monthly for the prior full month for 100% accuracy.

City of Chicago Market Snapshot
November 2013
  • Overall sales year-over-year rose to 2,231 units, a 7.5 percent gain compared to  the 2,076 home sales in October 2012. Single-family sales were up 6.8 percent and condo sales rose 7.9 percent.
  • The average median price of a home in October 2013 was $218,500, up 24.9 percent compared to October 2012. The median price for condos rose 23.8 percent to $260,000.
  • There were 8,654 homes on the market in October, down 26.3 percent from a year ago.
  •  On average, it took 52 days to sell a house this October, versus 71 days a year ago.

Within the real estate industry, excitement continues to expand. While consumers have been emboldened by low prices and interest rates, sellers are starting to regain their footing. Homeowners considering selling their homes would be wise to list their properties now before the Spring rush. Shorter market times paired with multiple offers make the climate ideal.

Loop Spotlighted
November 2013

This month we are spotlighting the Loop, the boundaries are from Roosevelt Road on the South to Chicago River on the North, and from Lake Michigan to the Chicago River on the West.

  • On a year-over-year basis, the Loop saw a 8.2% median sale price increase, $330,000 median price vs. $305,000.
  • On a month-over-month basis, November 2013 compared to November 2012, the median sale price changed by -6.3%, $314,000 median sales price vs. $335,000.
  • Year-over-year closed sales were up 16.6%, 843 closed sales vs. 723 closed sales; month-over-month were down 10.7%, 67 Closed sales vs. 75 closed sales.
  • Market time year-over-year was down –40.1%, down to an average of 89 days vs.149 days. Month-over-month market time was down –45.7%, 66 days vs. 122
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Find Your Neighborhood Stats

Please click here to find the stats for your neighborhood. If you are not sure which of the 77 neighborhoods your “pocket neighborhood” is part of, consult our interactive map to find out. This Eldorrado-designed interactive map has been used with permission by request from CPS, Chicago Public Schools. Many of our web searchers find us via our map. We hope you find it as useful.

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