The Chicago housing market is somewhat competitive. Homes in Chicago receive 3 offers on average and sell in around 57 days. The median sale price of a home in Chicago was $364K last month, up 8.5% since last year. The median sale price per square foot in Chicago is $258, up 9.3% since last year.
In March 2024, Chicago home prices were up 8.5% compared to last year, selling for a median price of $364K. On average, homes in Chicago sell after 57 days on the market compared to 65 days last year. There were 2,025 homes sold in March this year, down from 2,459 last year.
All Home Types
Median Sale PriceAll Home Types
Median Sale Price
(All Home Types)
$363,500
+8.5% YoY | Mar 2024
Based on Redfin calculations of home data from MLS and/or public records.
Location
Data
Mar 2024
Growth
% YoY
Chicago, IL
$363,500
+8.5%
United States
To compare other locations to the Chicago and U.S. housing market, enter a city, neighborhood, state, or zip code into the search bar. Chicago's median sale price is 13% lower than the national average. Overall cost of living in Chicago is 14% higher than the national average. Learn which home features in Chicago add value to a home.
How much is your home worth? Track your home’s value and compare it to nearby sales.
How hot is the Chicago housing market?
Chicago is somewhat competitive. Homes sell in 60 days.
0
100
44
Somewhat Competitive
Redfin Compete Score™
The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.
Calculated over the last 3 months
Some homes get multiple offers.
The average homes sell for about 1% below list price and go pending in around 60 days.
Hot homes
can sell for about 2% above list price and go pending in around 35 days.
This data does not reflect actual moves. The latest migration analysis is based on a sample of about two
million Redfin.com users who searched for homes across more than 100 metro areas. To be included in this dataset, a Redfin.com user
must have viewed at least 10 homes in a three month period. This dataset excludes all rentals data.
Home offer insights for Chicago
Explore recent offers and recently sold homes in Chicago
Recent offers
Winning Offer|
7 Weeks Ago
~$300K Offer
2bd | 2ba | —sqft
Over List Price
0%
Days on Market
16
Competing Offers
2
Down Payment
~10%
Tiffeny Meyers
Chicago Redfin Agent
Offer Not Accepted|
4 Weeks Ago
~$125K Offer
Sold for $150K
2bd | 1ba | —sqft
Over List Price
0%
Days on Market
18
Competing Offers
2
Offer
All Cash
Layching Quek
Chicago Redfin Agent
Offer Not Accepted|
4 Weeks Ago
~$500K Offer
Sold for $550K
3bd | 2ba | ~1,500sqft
Over List Price
4%
Days on Market
25
Competing Offers
12
Offer
All Cash
Steve Dombar
Chicago Redfin Agent
Offer Not Accepted|
4 Weeks Ago
~$150K Offer
Sold for $150K
1bd | 1ba | —sqft
Over List Price
0%
Days on Market
20
Competing Offers
5
Offer
All Cash
Logan Monette
Chicago Redfin Agent
Offer Not Accepted|
8 Weeks Ago
~$1.5M Offer
Sold for $1.75M
5bd | 3.5ba | —sqft
Over List Price
3%
Days on Market
19
Competing Offers
11
Offer
All Cash
Niko Voutsinas
Chicago Redfin Agent
The level of interest in this Lakeview gem of a single-family home was immense. In just a 2 hour showing window, dozens of groups came through and more than 10 offers were received by the next day when an offer deadline was set. Tons of demand at a price point where demand greatly outstrips supply of high quality offerings. We won't know until it closes but it will most likely close at least 5-10% above the list price and I'd guess that many if not all contract contingencies were waived. …
This area's enrollment policy is not based solely on geography. Please check the school district website for more information.
GreatSchools Rating
10/10
Oak Ridge Elementary School
Public • 2-5
734
Students
4 reviews
10/10
Edison Elementary Regional Gifted Center
Public • K-8
264
Students
13 reviews
10/10
Pleasantdale Middle School
Public • 5-8
388
Students
3 reviews
10/10
Eugene Field Elementary School
Public • K-5
650
Students
4 reviews
10/10
Glen Oaks Elementary School
Public • 2-5
707
Students
3 reviews
Only showing 5 of
100+ elementary schools.
School data provided by GreatSchools. School service boundaries are intended to be used as reference only. To verify enrollment eligibility for a property, contact the school directly.
Climate's impact on Chicago housing
Learn about natural hazards and environmental risks, such as floods, fires, wind, and heat that
could impact homes in Chicago.
Risk Factor
Flood Factor - Moderate
42% of properties are at risk of severe flooding over the next 30 years
Flood Factor
Chicago has a moderate risk of flooding. 83,841 properties in Chicago are likely to be
severely affected
by flooding over the next 30 years. This represents 42% of all properties in Chicago. Flood risk is increasing slower than the national average.
<1% of properties are at risk of wildfire over the next 30 years
Fire Factor
Chicago has a moderate risk of wildfire. There are 5,632 properties in Chicago that have some risk of being affected by wildfire over the next 30 years. This represents <1% of all properties in Chicago.
100% of properties are at minor
risk of a severe wind event over the next 30 years
Wind Factor
Chicago has a Minor Wind Factor® risk based on the projected likelihood and speed of hurricane, tornado, or severe storm winds impacting it. Chicago is most at risk from hurricanes. 604,166 properties in Chicago have some risk of being in a severe wind event within the next 30 years.