Today we’ll look at some recent data from the end of August having to do with our Chicago market.

The end-of-August numbers are in for our Chicago real estate market. What do they tell us about the current landscape? Let’s pore over the numbers pertaining to single-family homes to find out. 

Before we do, note that we’ll analyze each data point by doing a 10-year, three-year, and one-year lookback. 

Feel free to follow along in the video above or use the timestamps below to navigate this market update at your leisure:

0:37—An often-forgotten point about the economics of the housing market 

2:00—Median sales price 

4:53—Months’ supply of homes for sale

5:46—Closed sales  

7:46—Cause and effect of closed sales plus median sales price 

8:10—The distinction between leading indicators and lagging indicators 

8:45—My take on the overall state of the market 

10:02—The key takeaways for homebuyers 

10:54—The key takeaways for sellers 

11:45—Wrapping things up 

If you have any questions about what we covered today or about anything else real estate-related, please don’t hesitate to let us know. We’d look forward to hearing from you!