{"id":42803,"date":"2016-01-21T05:00:11","date_gmt":"2016-01-21T13:00:11","guid":{"rendered":"https:\/\/redfindevelop.wpengine.com\/blog\/?p=42803"},"modified":"2020-10-05T16:22:57","modified_gmt":"2020-10-05T23:22:57","slug":"chicago-dec-market-tracker","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/chicago-dec-market-tracker\/","title":{"rendered":"Chicago Home Prices Rise Amid Lowest Inventory in Years"},"content":{"rendered":"

Chicago home prices were up 8.4 percent in December from a year earlier, with the typical home selling for $237,250. Sales fell 2.8 percent.<\/p>\n

\"ChiDecHomePricesChart\"<\/figure>\n

Prices soared in part because of a lack of inventory. The number of homes for sale fell 6.9 percent, the ninth-straight month of decline. Chicago had only 10,645 homes for sale last month, the fewest this decade. <\/span><\/p>\n

\"ChiDecHomeSales\"<\/figure>\n

A typical home sold in 30 days for 95 percent of the asking price. The supply of properties for sale dipped to 4.5 months, below the six months that signals a balanced market.<\/span><\/p>\n

Hot Neighborhoods<\/h3>\n

Pullman had the sharpest price growth, up 117.5 percent, with a typical home selling for $87,000. The neighborhood had a banner year: it was formally designated a<\/span> National Monument<\/span><\/a>,<\/span> businesses<\/span><\/a> came<\/span><\/a> to the area and plans are in the works for<\/span> artists\u2019 housing<\/span><\/a>. Buyers are starting to notice: 32 percent of Pullman homes sold for more than list price.<\/span><\/p>\n

The West Loop was the fastest market, with typical homes selling in 10 days for nearly exactly asking price. The tightest market for much of the year, a typical home in the condo-laden neighborhood runs for $365,000. Thirty-nine percent of West Loop homes sold for more than asking price.<\/span><\/p>\n

Bucktown was the most expensive neighborhood, with a typical home selling at $569,500. Ukrainian Village, Lincoln Park and Roscoe Village were the only other neighborhoods with median home prices higher than $500,000.<\/span><\/p>\n

See our city page for the most up-to-date data on Chicago <\/span>home prices<\/span><\/a>.<\/b><\/p>\n

Here\u2019s what\u2019s happening in your neighborhood:<\/b><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Neighborhood<\/th>\nMedian Sale Price<\/th>\nYear-Over-Year<\/th>\nHomes Sold<\/th>\nYear-Over-Year<\/th>\nInventory<\/th>\nYear-Over-Year<\/th>\nNew Listings<\/th>\nMedian Days on Market<\/th>\nAvg Sale-to-List<\/th>\n<\/tr>\n<\/thead>\n
Albany Park<\/a><\/td>\n$253,500<\/td>\n25.5%<\/td>\n102<\/td>\n20.0%<\/td>\n160<\/td>\n-10.1%<\/td>\n99<\/td>\n37<\/td>\n94.6%<\/td>\n<\/tr>\n
Andersonville<\/a><\/td>\n$391,000<\/td>\n-1.0%<\/td>\n42<\/td>\n13.5%<\/td>\n64<\/td>\n-8.6%<\/td>\n45<\/td>\n12<\/td>\n97.1%<\/td>\n<\/tr>\n
Archer Heights<\/a><\/td>\n$178,900<\/td>\n12.9%<\/td>\n28<\/td>\n0.0%<\/td>\n35<\/td>\n34.6%<\/td>\n30<\/td>\n15<\/td>\n96.4%<\/td>\n<\/tr>\n
Austin<\/a><\/td>\n$85,000<\/td>\n9.7%<\/td>\n117<\/td>\n-5.6%<\/td>\n255<\/td>\n-9.6%<\/td>\n190<\/td>\n28<\/td>\n98.8%<\/td>\n<\/tr>\n
Avondale<\/a><\/td>\n$295,000<\/td>\n-7.7%<\/td>\n87<\/td>\n-12.1%<\/td>\n130<\/td>\n-11.0%<\/td>\n102<\/td>\n19<\/td>\n97.0%<\/td>\n<\/tr>\n
Beverly<\/a><\/td>\n$250,662<\/td>\n-7.2%<\/td>\n52<\/td>\n18.2%<\/td>\n120<\/td>\n13.2%<\/td>\n79<\/td>\n27<\/td>\n92.7%<\/td>\n<\/tr>\n
Bridgeport<\/a><\/td>\n$345,000<\/td>\n30.7%<\/td>\n57<\/td>\n-13.6%<\/td>\n101<\/td>\n-3.8%<\/td>\n66<\/td>\n21<\/td>\n95.1%<\/td>\n<\/tr>\n
Brighton Park<\/a><\/td>\n$143,500<\/td>\n13.9%<\/td>\n61<\/td>\n24.5%<\/td>\n79<\/td>\n21.5%<\/td>\n57<\/td>\n35<\/td>\n93.8%<\/td>\n<\/tr>\n
Bucktown<\/a><\/td>\n$569,500<\/td>\n15.8%<\/td>\n76<\/td>\n5.6%<\/td>\n72<\/td>\n-20.9%<\/td>\n76<\/td>\n16<\/td>\n96.8%<\/td>\n<\/tr>\n
Clearing<\/a><\/td>\n$182,500<\/td>\n15.5%<\/td>\n66<\/td>\n-7.0%<\/td>\n127<\/td>\n15.5%<\/td>\n88<\/td>\n28<\/td>\n92.5%<\/td>\n<\/tr>\n
Edgewater<\/a><\/td>\n$227,500<\/td>\n16.7%<\/td>\n158<\/td>\n12.1%<\/td>\n294<\/td>\n-3.6%<\/td>\n188<\/td>\n33<\/td>\n94.3%<\/td>\n<\/tr>\n
Edison Park<\/a><\/td>\n$259,000<\/td>\n-13.5%<\/td>\n36<\/td>\n5.9%<\/td>\n59<\/td>\n-10.6%<\/td>\n34<\/td>\n32<\/td>\n92.0%<\/td>\n<\/tr>\n
Englewood<\/a><\/td>\n$20,000<\/td>\n5.3%<\/td>\n39<\/td>\n14.7%<\/td>\n181<\/td>\n-17.4%<\/td>\n91<\/td>\n36<\/td>\n101.2%<\/td>\n<\/tr>\n
Garfield Ridge<\/a><\/td>\n$190,000<\/td>\n0.5%<\/td>\n89<\/td>\n-8.2%<\/td>\n143<\/td>\n-6.5%<\/td>\n110<\/td>\n32<\/td>\n94.6%<\/td>\n<\/tr>\n
Gold Coast<\/a><\/td>\n$287,000<\/td>\n-1.9%<\/td>\n138<\/td>\n4.5%<\/td>\n284<\/td>\n-6.0%<\/td>\n171<\/td>\n30<\/td>\n94.2%<\/td>\n<\/tr>\n
Humboldt Park<\/a><\/td>\n$221,500<\/td>\n18.2%<\/td>\n154<\/td>\n6.9%<\/td>\n258<\/td>\n-1.1%<\/td>\n195<\/td>\n19<\/td>\n97.4%<\/td>\n<\/tr>\n
Hyde Park<\/a><\/td>\n$145,000<\/td>\n-15.9%<\/td>\n64<\/td>\n56.1%<\/td>\n143<\/td>\n-34.1%<\/td>\n61<\/td>\n56<\/td>\n90.4%<\/td>\n<\/tr>\n
Irving Park<\/a><\/td>\n$294,750<\/td>\n4.2%<\/td>\n112<\/td>\n-6.7%<\/td>\n254<\/td>\n11.9%<\/td>\n194<\/td>\n18<\/td>\n95.6%<\/td>\n<\/tr>\n
Jefferson Park<\/a><\/td>\n$262,000<\/td>\n6.5%<\/td>\n78<\/td>\n-1.3%<\/td>\n107<\/td>\n-5.3%<\/td>\n83<\/td>\n19<\/td>\n94.7%<\/td>\n<\/tr>\n
Kenwood<\/a><\/td>\n$151,000<\/td>\n1.6%<\/td>\n39<\/td>\n-7.1%<\/td>\n120<\/td>\n-13.7%<\/td>\n61<\/td>\n68<\/td>\n89.5%<\/td>\n<\/tr>\n
Lincoln Park<\/a><\/td>\n$537,000<\/td>\n10.7%<\/td>\n288<\/td>\n-9.4%<\/td>\n477<\/td>\n-6.7%<\/td>\n366<\/td>\n23<\/td>\n94.7%<\/td>\n<\/tr>\n
Lincoln Square<\/a><\/td>\n$359,000<\/td>\n6.1%<\/td>\n33<\/td>\n-29.8%<\/td>\n119<\/td>\n25.3%<\/td>\n66<\/td>\n26<\/td>\n93.1%<\/td>\n<\/tr>\n
Logan Square<\/a><\/td>\n$365,000<\/td>\n28.6%<\/td>\n156<\/td>\n10.6%<\/td>\n177<\/td>\n-8.8%<\/td>\n179<\/td>\n11<\/td>\n96.9%<\/td>\n<\/tr>\n
McKinley Park<\/a><\/td>\n$166,450<\/td>\n-0.3%<\/td>\n26<\/td>\n36.8%<\/td>\n44<\/td>\n-6.4%<\/td>\n30<\/td>\n38<\/td>\n91.9%<\/td>\n<\/tr>\n
Montclare<\/a><\/td>\n$225,200<\/td>\n21.3%<\/td>\n37<\/td>\n-5.1%<\/td>\n44<\/td>\n-34.3%<\/td>\n34<\/td>\n49<\/td>\n94.2%<\/td>\n<\/tr>\n
Mount Greenwood<\/a><\/td>\n$193,000<\/td>\n-7.7%<\/td>\n44<\/td>\n-13.7%<\/td>\n76<\/td>\n0.0%<\/td>\n55<\/td>\n33<\/td>\n94.5%<\/td>\n<\/tr>\n
Near North Side<\/a><\/td>\n$403,531<\/td>\n3.1%<\/td>\n568<\/td>\n7.8%<\/td>\n1,083<\/td>\n-0.8%<\/td>\n661<\/td>\n34<\/td>\n95.5%<\/td>\n<\/tr>\n
North Center<\/a><\/td>\n$475,000<\/td>\n-15.8%<\/td>\n71<\/td>\n42.0%<\/td>\n94<\/td>\n1.1%<\/td>\n81<\/td>\n13<\/td>\n96.0%<\/td>\n<\/tr>\n
Old Town<\/a><\/td>\n$317,500<\/td>\n-5.9%<\/td>\n89<\/td>\n2.3%<\/td>\n112<\/td>\n-5.1%<\/td>\n96<\/td>\n21<\/td>\n95.2%<\/td>\n<\/tr>\n
Portage Park<\/a><\/td>\n$252,500<\/td>\n2.4%<\/td>\n149<\/td>\n-8.0%<\/td>\n255<\/td>\n14.3%<\/td>\n177<\/td>\n25<\/td>\n94.0%<\/td>\n<\/tr>\n
Pullman<\/a><\/td>\n$87,000<\/td>\n117.5%<\/td>\n19<\/td>\n0.0%<\/td>\n29<\/td>\n-31.0%<\/td>\n22<\/td>\n29<\/td>\n100.5%<\/td>\n<\/tr>\n
Ravenswood<\/a><\/td>\n$337,500<\/td>\n-26.1%<\/td>\n64<\/td>\n36.2%<\/td>\n73<\/td>\n7.4%<\/td>\n53<\/td>\n30<\/td>\n95.1%<\/td>\n<\/tr>\n
Rogers Park<\/a><\/td>\n$164,700<\/td>\n7.5%<\/td>\n108<\/td>\n1.9%<\/td>\n237<\/td>\n11.3%<\/td>\n143<\/td>\n28<\/td>\n93.7%<\/td>\n<\/tr>\n
Roscoe Village<\/a><\/td>\n$535,000<\/td>\n-0.9%<\/td>\n67<\/td>\n-17.3%<\/td>\n120<\/td>\n36.4%<\/td>\n111<\/td>\n14<\/td>\n96.2%<\/td>\n<\/tr>\n
Sauganash<\/a><\/td>\n$405,000<\/td>\n26.0%<\/td>\n32<\/td>\n33.3%<\/td>\n73<\/td>\n58.7%<\/td>\n50<\/td>\n33<\/td>\n93.1%<\/td>\n<\/tr>\n
South Lawndale \/ Little Village<\/a><\/td>\n$99,000<\/td>\n23.8%<\/td>\n40<\/td>\n17.6%<\/td>\n81<\/td>\n-5.8%<\/td>\n56<\/td>\n34<\/td>\n98.6%<\/td>\n<\/tr>\n
South Loop<\/a><\/td>\n$349,000<\/td>\n-0.3%<\/td>\n235<\/td>\n0.4%<\/td>\n355<\/td>\n4.1%<\/td>\n267<\/td>\n31<\/td>\n97.9%<\/td>\n<\/tr>\n
South Shore<\/a><\/td>\n$60,977<\/td>\n34.0%<\/td>\n85<\/td>\n-18.3%<\/td>\n258<\/td>\n-17.6%<\/td>\n122<\/td>\n42<\/td>\n94.9%<\/td>\n<\/tr>\n
Streeterville<\/a><\/td>\n$490,000<\/td>\n16.0%<\/td>\n131<\/td>\n-13.2%<\/td>\n320<\/td>\n-10.1%<\/td>\n159<\/td>\n54<\/td>\n94.5%<\/td>\n<\/tr>\n
The Loop<\/a><\/td>\n$345,000<\/td>\n-5.5%<\/td>\n185<\/td>\n9.5%<\/td>\n324<\/td>\n-0.9%<\/td>\n211<\/td>\n41<\/td>\n95.9%<\/td>\n<\/tr>\n
Tri-Taylor<\/a><\/td>\n$248,000<\/td>\n70.1%<\/td>\n15<\/td>\n36.4%<\/td>\n28<\/td>\n-24.3%<\/td>\n15<\/td>\n51<\/td>\n91.9%<\/td>\n<\/tr>\n
Ukrainian Village<\/a><\/td>\n$542,500<\/td>\n25.4%<\/td>\n20<\/td>\n-23.1%<\/td>\n34<\/td>\n-19.0%<\/td>\n26<\/td>\n19<\/td>\n96.5%<\/td>\n<\/tr>\n
Uptown<\/a><\/td>\n$233,500<\/td>\n15.9%<\/td>\n142<\/td>\n-6.6%<\/td>\n270<\/td>\n-23.5%<\/td>\n172<\/td>\n27<\/td>\n94.1%<\/td>\n<\/tr>\n
West Loop<\/a><\/td>\n$365,000<\/td>\n1.1%<\/td>\n137<\/td>\n12.3%<\/td>\n111<\/td>\n-17.2%<\/td>\n117<\/td>\n10<\/td>\n99.6%<\/td>\n<\/tr>\n
West Town<\/a><\/td>\n$457,750<\/td>\n5.2%<\/td>\n341<\/td>\n-0.9%<\/td>\n425<\/td>\n-12.6%<\/td>\n412<\/td>\n13<\/td>\n97.1%<\/td>\n<\/tr>\n
Wicker Park<\/a><\/td>\n$480,300<\/td>\n0.7%<\/td>\n105<\/td>\n-6.3%<\/td>\n122<\/td>\n-17.6%<\/td>\n118<\/td>\n12<\/td>\n96.8%<\/td>\n<\/tr>\n
Chicago<\/b><\/td>\n$237,250<\/b><\/td>\n8.4%<\/b><\/td>\n2,350<\/b><\/td>\n-2.8%<\/b><\/td>\n10,645<\/b><\/td>\n-6.9%<\/b><\/td>\n2,163<\/b><\/td>\n30<\/b><\/td>\n95.0%<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

NOTE: Not all neighborhoods are listed, but totals for Chicago encompass entire city. \u00a0Data is based on listing information and might not reflect all real estate activity in the market. Neighborhood-specific data is measured over the three months ended Dec. 31. Inventory measures listings active as of Dec. 31.<\/span><\/p>\n

For more information, contact Redfin journalist services<\/span><\/p>\n

Phone: 206-588-6863
\n<\/span>Email: press@redfin.com<\/span><\/p>\n

To be added to Redfin\u2019s press release distribution list, please <\/span>click here<\/span><\/a>.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Chicago had only 10,645 homes for sale last month, the fewest this decade.<\/p>\n","protected":false},"author":13053,"featured_media":53488,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[45],"tags":[32,68],"coauthors":[],"class_list":["post-42803","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-regional-trends","tag-housing-market-tracker","tag-local"],"acf":[],"yoast_head":"\nChicago Home Prices Rise Amid Lowest Inventory in Years - Redfin Real Estate News<\/title>\n<meta name=\"description\" content=\"Chicago home prices were up 8.4 percent in December from a year earlier, with the typical home selling for $237,250. 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