Chicago Real Estate Market Trends for August 2017

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Chicago Real Estate Market Trends for August 2017

Neighborhoods included in these statistics are: Avondale, Albany Park, Edgewater, Irving Park, Lakeview, Lincoln Park, Lincoln Square, Logan Square, Loop, Near North Side, Near South Side, Near West Side, North Center, Uptown, West Town.

Chicago Real Estate Sales – Detached Single Homes

The number of Chicago detached single homes selling in August 2017 decreased by 5.08% compared to August 2016. The average selling price increased by 5.62% to $930,987 and the average market time increased by 42 days or 71.19%. Homes sold for 97% of the listed price.

Date

Sold Listings

Average
Sold Price

SP:LP

Average
Market Time

August 2017

168

$930,987

97%

101

August 2016

177

$881,430

97%

59


Chicago Real Estate Sales – Attached Single Homes

The number of Chicago attached single homes selling in August 2017 decreased by 3.02% for the month when compared to August 2016. The average selling price increased 5.85% to $456,011 and the average market time decreased 4 days or 7.84%. Homes sold for 98% of the listed price.

Date

Sold Listings

Average
Sold Price

SP:LP

Average
Market Time

August 2017

1,351

$456,011

98%

47

August 2016

1,393

$430,798

98%

51


Chicago Real Estate Sales – 2-4 Flats

The number of Chicago multi-family properties selling in August 2017 decreased 9.65% when compared to August 2016. The average selling price increased 15.45% to $684,202 and the average market time increased by 18 days or 37.5%. Homes sold for 96% of the listed price.

Date

Sold Listings

Average
Sold Price

SP:LP

Average
Market Time

August 2017

103

$684,202

96%

66

August 2016

114

$592,637

98%

48


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Information courtesy of Chicago Realtor Karen Breen Elia.

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Karen Breen Elia & Louis M. Elia, REALTORS®, are brokers for homes, condos, and multi-unit properties on Chicago’s North Side.

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Chicago IL 60657
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