Here are the latest numbers from our Chicago market so far in 2021.
How is our 2021 real estate market doing so far? In the single-family market in Chicago, compared to this time last year, more properties have closed, but fewer have come onto the market, making it more difficult for buyers to find the ideal house. The median sales price has increased by 8.8%.
In the condo market, which includes townhomes and any other attached housing, more have been listed, sold, and gone under contract compared to last year. Their median sales price has risen by 3.9%, and there are fewer properties available. In the two-bedroom, two-bath condo market specifically, prices have dropped by 2.5%.
In the multi-unit property market, we’ve seen fewer properties listed, but more have sold. The median price for multi-units has climbed by 12.7% from this time last year.
Many active buyers are out in the market, but the inventory across the board has been reduced. If you or anyone you know is considering making a move and needs help figuring out their situation, give us a call or shoot us an email or text. Contact us if you have any questions, as well. We’re always glad to help.