Thursday, March 23, 2023

Slow roll: February 2023 home sales in Chicago


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 (our area MLS). 

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