In July, home prices fell moderately from the month before, with a median listing price of $365,000.
The number of listings on the market remained practically unchanged from last month, but it is a smaller increase than normal for this time of the year in Chicago, and homes are also selling at the same pace as the same time last year.
Home prices in Chicago
Typically, home price per square foot in Chicago tend to fall in July. And the most recent data shows that the price per square foot decreased by 1.7% compared with the month before.
So, how does this compare with the rest of the U.S.? Nationally, home price per square foot decreased 0.9%, which means price changes in the Windy City are larger the national market.
Chicago inventory
In July, there were 4,272 homes for sale in Chicago, which was 0.3% more than the month before and 12.1% less than the same time last year.
Meanwhile, active inventory across the nation rose by 1.9% from last month to 1,102,787.
The number of new listings in Chicago was 2,274, which was 6.4% less than the month before and 5.0% less than the same time last year.
Nationally, the number of new listings fell by 3.9% from last month to 434,816.
Time on market
Homes in Chicago take an average of 38 days to sell, according to July figures.
This is one day more than the previous month and the same as the same month last year.
For comparison, nationally homes spent an average of 58 days on the market in July.
Use the Realtor.com data portal to get more market data, broken down by state, metro or ZIP code.
* Here’s a live look at popular listings and recent home sales in Chicago, IL.