As expected Chicago over-all home sales over the 77 Chicago community areas were down year to year in February 2023. Important to most home sellers and buyers is median price slipped 3.1% year to year. We know March has seen a couple strong weeks due to a dip in interest rates a couple months ago. However, its expected prices will remain flat for March.
- 1,218 properties were sold in the City of Chicago in February 2023. This is a 36.7% decrease from February 2022.
- The median sales price in the City of Chicago for February 2023 was $310,000, a 3.1% decrease from February 2022.
- The City of Chicago saw listings average 94 days on the market until contract, which is a 2.5% increase from February 2022.
Of course not all market areas are the same. Lincoln Square single family home median sales price was up 17% in February year over year. Lake View condo median price was up in February 3.5%.
I gather stats from the Chicago Association of Realtors and MREDllc.com (our area MLS).
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