Market Update – Chicago
The market in April was hot! the steep year-over-year increase in closed sales and median price shows the hesitancy of buyers and sellers at the beginning of the pandemic last April compared to the comfort they are feeling in the market now.
Speed of the Market
Speed of the market: 43.2% – Based on Sales-to-Active Listing Ratio.
Home Sales
There were 3,323 sales in April:
- 61.5% increase compared to April 2020. Total sales also increased by 14.4% compared tp last month.
Listings
There were 5,936 new listings in April:
Both the listings and sales activity have increased, resulting in an upward trend in prices.
- 109.9 % increase compared to April 2020.
Median Sold Price
Median sold price equaled to $372,500 in April
Median price also surpassed last months level by 8%
- 10.2 % increase compared to April 2020.
Detached Home Highlights
944 detached homes were sold in April:
- A 29.9 % increase compared to April 2020.
Median Price was $345,000:
- A 19.8% increase compared to last year.
Attached Homes Highlights
2,379 Attached Homes were sold in April:
- A 78.9% increase compared to April 2020.
Average Price was $380,000:
- A 4.1% increase compared to last year.