{"id":47255,"date":"2016-04-14T04:00:33","date_gmt":"2016-04-14T11:00:33","guid":{"rendered":"https:\/\/redfindevelop.wpengine.com\/blog\/?p=47255"},"modified":"2020-10-05T16:22:51","modified_gmt":"2020-10-05T23:22:51","slug":"march-chicago-housing-market-tracker","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/march-chicago-housing-market-tracker\/","title":{"rendered":"Chicago Home Prices Up 12 Percent As Scarcity Takes Hold"},"content":{"rendered":"

Chicago home prices were up 12 percent in March from a year ago, with the typical property selling for $252,000. \u00a0Sales dipped 0.4 percent as buyers confronted a shortage of houses for sale.<\/p>\n

The inventory of homes on the market fell 8.4 percent, the seventh consecutive month of declines and the steepest drop in two years. New listings were down 5.5 percent, the third drop in the past four months.<\/p>\n

\"ChiPriceMar2016\"<\/figure>\n

One in four houses sold for more than asking price. A typical home was on the market 74 days in Chicago, ten days fewer than a year ago.<\/span><\/p>\n

\"ChiSalesMar2016\"<\/figure>\n

With rental prices <\/span>rising<\/span><\/a>, property owners have a strong motivation to lease instead of sell. <\/span><\/p>\n

“Would-be sellers are hoarding the houses,\u201d Redfin real estate agent <\/span>Greg Whelan<\/span><\/a> said. \u201cI\u2019ve had more and more clients keep their current home and rent it out after purchasing a new one.\u201d<\/span><\/p>\n

\u201cThe low interest rates over the past five years make holding onto an appreciating asset all the more appealing,\u201d said Whelan. \u201cCurrently, there are few other avenues available to get a solid return on your money. Cashing out just doesn\u2019t makes sense if there\u2019s no need to do so, especially when leasing your property often well exceeds your costs.”<\/span><\/p>\n

\"ChiInventoryMar2016\"<\/figure>\n

Additionally, properties with two to four units, an asset class coveted by small investors looking to profit from rising rents, are in demand. The median price on those multi-unit buildings jumped a whopping 40.8 percent last month, to $159,450.<\/span><\/p>\n

As with single-family homes, multi-unit inventory was down 12.5 percent. That pushed sales down 31 percent in March compared to a year ago.<\/span><\/p>\n

Hot Neighborhoods<\/h3>\n

In Oakland, a near Southside neighborhood along Lake Michigan, only 10 homes sold in the first three months of the year but prices more than doubled, with a typical property seling for $349,900. <\/span><\/p>\n

Edgewater had the city\u2019s second-highest price growth, at 50.3 percent, with a typical home selling for $237,000. The neighborhood, known for its abundance of condos, had 149 sales in the first three months of 2016. Hyde Park, Bridgeport, McKinley Park and Gold Coast all had price appreciation at or above 40 percent.<\/span><\/p>\n

Ukrainian Village, this year\u2019s<\/span> hottest neighborhood<\/span><\/a>, was the most expensive in the city, with a typical home selling for $579,900. Nearby Bucktown took second place, with a median price of $514,000. <\/span><\/p>\n

See our city page for the most up-to-date data on Chicago <\/span>home prices<\/span><\/a>.<\/span><\/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\n\n\n\n\n\n\n\n
Place<\/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$245,000<\/td>\n6.3%<\/td>\n91<\/td>\n21.3%<\/td>\n145<\/td>\n-5.2%<\/td>\n157<\/td>\n94<\/td>\n96.4%<\/td>\n<\/tr>\n
Andersonville<\/a><\/td>\n$370,450<\/td>\n-9.1%<\/td>\n30<\/td>\n25.0%<\/td>\n59<\/td>\n-15.7%<\/td>\n72<\/td>\n62<\/td>\n97.0%<\/td>\n<\/tr>\n
Archer Heights<\/a><\/td>\n$145,554<\/td>\n-12.8%<\/td>\n13<\/td>\n-38.1%<\/td>\n30<\/td>\n50.0%<\/td>\n23<\/td>\n99<\/td>\n100.3%<\/td>\n<\/tr>\n
Austin<\/a><\/td>\n$88,250<\/td>\n26.1%<\/td>\n112<\/td>\n4.7%<\/td>\n163<\/td>\n-12.4%<\/td>\n159<\/td>\n63.5<\/td>\n101.3%<\/td>\n<\/tr>\n
Avondale<\/a><\/td>\n$292,500<\/td>\n0.8%<\/td>\n62<\/td>\n-32.6%<\/td>\n110<\/td>\n4.8%<\/td>\n143<\/td>\n68<\/td>\n98.8%<\/td>\n<\/tr>\n
Beverly<\/a><\/td>\n$238,000<\/td>\n2.4%<\/td>\n44<\/td>\n29.4%<\/td>\n100<\/td>\n-6.5%<\/td>\n82<\/td>\n133<\/td>\n96.8%<\/td>\n<\/tr>\n
Bridgeport<\/a><\/td>\n$355,000<\/td>\n45.5%<\/td>\n37<\/td>\n-11.9%<\/td>\n84<\/td>\n9.1%<\/td>\n68<\/td>\n69<\/td>\n98.6%<\/td>\n<\/tr>\n
Brighton Park<\/a><\/td>\n$150,000<\/td>\n15.4%<\/td>\n41<\/td>\n-12.8%<\/td>\n55<\/td>\n-3.5%<\/td>\n61<\/td>\n80<\/td>\n100.3%<\/td>\n<\/tr>\n
Bucktown<\/a><\/td>\n$514,000<\/td>\n9.2%<\/td>\n71<\/td>\n1.4%<\/td>\n86<\/td>\n-15.7%<\/td>\n126<\/td>\n79<\/td>\n97.3%<\/td>\n<\/tr>\n
Clearing<\/a><\/td>\n$160,000<\/td>\n18.1%<\/td>\n53<\/td>\n15.2%<\/td>\n93<\/td>\n-10.6%<\/td>\n86<\/td>\n90<\/td>\n97.8%<\/td>\n<\/tr>\n
Edgewater<\/a><\/td>\n$248,000<\/td>\n50.3%<\/td>\n149<\/td>\n-1.3%<\/td>\n293<\/td>\n-19.1%<\/td>\n304<\/td>\n100.5<\/td>\n96.8%<\/td>\n<\/tr>\n
Edison Park<\/a><\/td>\n$310,000<\/td>\n10.6%<\/td>\n19<\/td>\n-40.6%<\/td>\n65<\/td>\n14.0%<\/td>\n56<\/td>\n124<\/td>\n96.6%<\/td>\n<\/tr>\n
Englewood<\/a><\/td>\n$23,000<\/td>\n4.5%<\/td>\n56<\/td>\n-16.4%<\/td>\n192<\/td>\n-13.5%<\/td>\n140<\/td>\n60<\/td>\n92.8%<\/td>\n<\/tr>\n
Evanston<\/a><\/td>\n$250,000<\/td>\n4.8%<\/td>\n97<\/td>\n42.6%<\/td>\n387<\/td>\n-13.2%<\/td>\n152<\/td>\n82<\/td>\n97.3%<\/td>\n<\/tr>\n
Garfield Ridge<\/a><\/td>\n$187,157<\/td>\n7.0%<\/td>\n75<\/td>\n-9.6%<\/td>\n134<\/td>\n17.5%<\/td>\n129<\/td>\n97<\/td>\n98.6%<\/td>\n<\/tr>\n
Gold Coast<\/a><\/td>\n$380,000<\/td>\n40.0%<\/td>\n99<\/td>\n6.4%<\/td>\n257<\/td>\n-11.4%<\/td>\n214<\/td>\n106<\/td>\n94.7%<\/td>\n<\/tr>\n
Humboldt Park<\/a><\/td>\n$178,000<\/td>\n-24.9%<\/td>\n111<\/td>\n-8.3%<\/td>\n194<\/td>\n9.6%<\/td>\n226<\/td>\n73<\/td>\n100.9%<\/td>\n<\/tr>\n
Hyde Park<\/a><\/td>\n$194,000<\/td>\n45.9%<\/td>\n45<\/td>\n18.4%<\/td>\n106<\/td>\n-34.2%<\/td>\n89<\/td>\n112.5<\/td>\n95.8%<\/td>\n<\/tr>\n
Irving Park<\/a><\/td>\n$267,000<\/td>\n6.3%<\/td>\n139<\/td>\n43.3%<\/td>\n184<\/td>\n-11.5%<\/td>\n217<\/td>\n98<\/td>\n96.8%<\/td>\n<\/tr>\n
Jefferson Park<\/a><\/td>\n$255,000<\/td>\n4.1%<\/td>\n59<\/td>\n0.0%<\/td>\n113<\/td>\n6.6%<\/td>\n132<\/td>\n108<\/td>\n96.3%<\/td>\n<\/tr>\n
Joliet<\/a><\/td>\n$154,000<\/td>\n19.0%<\/td>\n193<\/td>\n-4.0%<\/td>\n670<\/td>\n-28.5%<\/td>\n302<\/td>\n78<\/td>\n96.6%<\/td>\n<\/tr>\n
Kenwood<\/a><\/td>\n$170,000<\/td>\n-18.4%<\/td>\n35<\/td>\n2.9%<\/td>\n91<\/td>\n-4.2%<\/td>\n75<\/td>\n99<\/td>\n97.8%<\/td>\n<\/tr>\n
Lakeview<\/a><\/td>\n$382,200<\/td>\n6.2%<\/td>\n376<\/td>\n10.3%<\/td>\n743<\/td>\n-9.9%<\/td>\n882<\/td>\n92<\/td>\n97.6%<\/td>\n<\/tr>\n
Lakeview \/ Wrigleyville<\/a><\/td>\n$383,900<\/td>\n6.6%<\/td>\n377<\/td>\n10.6%<\/td>\n746<\/td>\n-9.9%<\/td>\n886<\/td>\n92<\/td>\n97.6%<\/td>\n<\/tr>\n
Lincoln Park<\/a><\/td>\n$417,750<\/td>\n1.6%<\/td>\n114<\/td>\n-1.7%<\/td>\n261<\/td>\n8.8%<\/td>\n267<\/td>\n85<\/td>\n96.7%<\/td>\n<\/tr>\n
Lincoln Square<\/a><\/td>\n$397,000<\/td>\n26.0%<\/td>\n32<\/td>\n-21.9%<\/td>\n115<\/td>\n21.1%<\/td>\n106<\/td>\n142<\/td>\n96.8%<\/td>\n<\/tr>\n
Logan Square<\/a><\/td>\n$426,500<\/td>\n31.0%<\/td>\n144<\/td>\n10.8%<\/td>\n189<\/td>\n-3.6%<\/td>\n270<\/td>\n74<\/td>\n99.6%<\/td>\n<\/tr>\n
McKinley Park<\/a><\/td>\n$190,000<\/td>\n40.7%<\/td>\n27<\/td>\n58.8%<\/td>\n28<\/td>\n-15.2%<\/td>\n29<\/td>\n70<\/td>\n99.2%<\/td>\n<\/tr>\n
Montclare<\/a><\/td>\n$195,000<\/td>\n11.4%<\/td>\n21<\/td>\n-27.6%<\/td>\n34<\/td>\n-42.4%<\/td>\n30<\/td>\n98<\/td>\n97.6%<\/td>\n<\/tr>\n
Mount Greenwood<\/a><\/td>\n$201,000<\/td>\n26.4%<\/td>\n41<\/td>\n-8.9%<\/td>\n76<\/td>\n33.3%<\/td>\n68<\/td>\n59<\/td>\n98.2%<\/td>\n<\/tr>\n
Naperville<\/a><\/td>\n$330,000<\/td>\n7.5%<\/td>\n178<\/td>\n4.1%<\/td>\n1,159<\/td>\n3.4%<\/td>\n472<\/td>\n104<\/td>\n97.0%<\/td>\n<\/tr>\n
Near North Side<\/a><\/td>\n$392,750<\/td>\n-1.8%<\/td>\n496<\/td>\n5.1%<\/td>\n1,095<\/td>\n-4.9%<\/td>\n1,096<\/td>\n88<\/td>\n97.1%<\/td>\n<\/tr>\n
North Center<\/a><\/td>\n$465,100<\/td>\n10.7%<\/td>\n55<\/td>\n-6.8%<\/td>\n118<\/td>\n-16.3%<\/td>\n128<\/td>\n104<\/td>\n96.9%<\/td>\n<\/tr>\n
Oakland<\/a><\/td>\n$349,900<\/td>\n125.3%<\/td>\n10<\/td>\n11.1%<\/td>\n24<\/td>\n-25.0%<\/td>\n19<\/td>\n141.5<\/td>\n93.7%<\/td>\n<\/tr>\n
Old Town<\/a><\/td>\n$375,000<\/td>\n20.5%<\/td>\n64<\/td>\n10.3%<\/td>\n103<\/td>\n-12.0%<\/td>\n130<\/td>\n102<\/td>\n96.5%<\/td>\n<\/tr>\n
Portage Park<\/a><\/td>\n$269,000<\/td>\n3.9%<\/td>\n131<\/td>\n15.9%<\/td>\n169<\/td>\n-17.6%<\/td>\n183<\/td>\n100.5<\/td>\n98.0%<\/td>\n<\/tr>\n
Pullman<\/a><\/td>\n$59,500<\/td>\n38.4%<\/td>\n11<\/td>\n-21.4%<\/td>\n20<\/td>\n0.0%<\/td>\n16<\/td>\n51<\/td>\n100.8%<\/td>\n<\/tr>\n
Ravenswood<\/a><\/td>\n$325,000<\/td>\n-14.6%<\/td>\n45<\/td>\n-19.6%<\/td>\n109<\/td>\n-6.0%<\/td>\n133<\/td>\n83.5<\/td>\n97.6%<\/td>\n<\/tr>\n
River North<\/a><\/td>\n$412,602<\/td>\n3.1%<\/td>\n180<\/td>\n25.9%<\/td>\n309<\/td>\n2.0%<\/td>\n371<\/td>\n73<\/td>\n98.8%<\/td>\n<\/tr>\n
Rogers Park<\/a><\/td>\n$166,550<\/td>\n9.2%<\/td>\n96<\/td>\n20.0%<\/td>\n197<\/td>\n-7.5%<\/td>\n174<\/td>\n99.5<\/td>\n97.1%<\/td>\n<\/tr>\n
Roscoe Village<\/a><\/td>\n$457,500<\/td>\n-5.7%<\/td>\n78<\/td>\n52.9%<\/td>\n138<\/td>\n10.4%<\/td>\n180<\/td>\n104<\/td>\n98.2%<\/td>\n<\/tr>\n
Sauganash<\/a><\/td>\n$310,000<\/td>\n-11.1%<\/td>\n27<\/td>\n68.8%<\/td>\n54<\/td>\n1.9%<\/td>\n61<\/td>\n112<\/td>\n94.6%<\/td>\n<\/tr>\n
South Lawndale \/ Little Village<\/a><\/td>\n$90,500<\/td>\n38.2%<\/td>\n34<\/td>\n-8.1%<\/td>\n54<\/td>\n1.9%<\/td>\n48<\/td>\n68<\/td>\n98.0%<\/td>\n<\/tr>\n
South Loop<\/a><\/td>\n$315,700<\/td>\n-4.2%<\/td>\n238<\/td>\n33.7%<\/td>\n348<\/td>\n-14.7%<\/td>\n433<\/td>\n83<\/td>\n99.9%<\/td>\n<\/tr>\n
South Shore<\/a><\/td>\n$60,000<\/td>\n15.3%<\/td>\n67<\/td>\n-16.2%<\/td>\n141<\/td>\n-18.5%<\/td>\n105<\/td>\n100.5<\/td>\n96.4%<\/td>\n<\/tr>\n
Streeterville<\/a><\/td>\n$420,000<\/td>\n-9.7%<\/td>\n121<\/td>\n-6.2%<\/td>\n322<\/td>\n-11.3%<\/td>\n284<\/td>\n113.5<\/td>\n95.9%<\/td>\n<\/tr>\n
The Loop<\/a><\/td>\n$305,000<\/td>\n-20.5%<\/td>\n108<\/td>\n-15.6%<\/td>\n258<\/td>\n-11.9%<\/td>\n245<\/td>\n92<\/td>\n98.8%<\/td>\n<\/tr>\n
Tri-taylor<\/a><\/td>\n$297,451.5<\/td>\n31.2%<\/td>\n16<\/td>\n33.3%<\/td>\n15<\/td>\n-37.5%<\/td>\n11<\/td>\n132<\/td>\n99.6%<\/td>\n<\/tr>\n
Ukrainian Village<\/a><\/td>\n$579,900<\/td>\n18.1%<\/td>\n23<\/td>\n53.3%<\/td>\n46<\/td>\n2.2%<\/td>\n56<\/td>\n103.5<\/td>\n96.2%<\/td>\n<\/tr>\n
Uptown<\/a><\/td>\n$245,000<\/td>\n9.9%<\/td>\n139<\/td>\n0.0%<\/td>\n295<\/td>\n-16.9%<\/td>\n341<\/td>\n91<\/td>\n96.6%<\/td>\n<\/tr>\n
Washington Park<\/a><\/td>\n$50,000<\/td>\n-23.7%<\/td>\n16<\/td>\n0.0%<\/td>\n20<\/td>\n-52.4%<\/td>\n17<\/td>\n100<\/td>\n93.9%<\/td>\n<\/tr>\n
West Loop<\/a><\/td>\n$367,450<\/td>\n5.0%<\/td>\n112<\/td>\n-23.3%<\/td>\n177<\/td>\n0.6%<\/td>\n282<\/td>\n45.5<\/td>\n100.5%<\/td>\n<\/tr>\n
West Town<\/a><\/td>\n$449,900<\/td>\n7.6%<\/td>\n295<\/td>\n-2.0%<\/td>\n496<\/td>\n-3.3%<\/td>\n639<\/td>\n79<\/td>\n98.7%<\/td>\n<\/tr>\n
Wicker Park<\/a><\/td>\n$445,000<\/td>\n2.6%<\/td>\n73<\/td>\n-21.5%<\/td>\n117<\/td>\n-12.7%<\/td>\n155<\/td>\n56<\/td>\n98.8%<\/td>\n<\/tr>\n
Chicago, IL<\/b><\/td>\n$252,000<\/td>\n12.0%<\/td>\n2,364<\/td>\n-0.4%<\/td>\n11,150<\/td>\n-8.4%<\/td>\n4,622<\/td>\n74<\/td>\n98.3%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

For more information, contact Redfin journalist services:<\/strong>
\n<\/span>Phone: 206-588-6863<\/span>
\n<\/span>Email: <\/span>press@redfin.com<\/span><\/a><\/p>\n

See Redfin\u2019s <\/span>data center<\/span><\/a> to find out what\u2019s happening in other cities.
\n<\/span>
\n<\/span>To be added to Redfin\u2019s press release distribution list, please click <\/span>here<\/span><\/a>.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Chicago home prices were up 12 percent in March from a year ago, with the typical property selling for $252,000. <\/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-47255","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 Up 12 Percent As Scarcity Takes Hold - Redfin Real Estate News<\/title>\n<meta name=\"description\" content=\"Chicago home prices were up 12 percent in March from a year ago, with the typical property selling for $252,000. Sales dipped 0.4 percent as buyers confronted a shortage of houses for sale.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.redfin.com\/news\/march-chicago-housing-market-tracker\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chicago Home Prices Up 12 Percent As Scarcity Takes Hold\" \/>\n<meta property=\"og:description\" content=\"Chicago home prices were up 12 percent in March from a year ago, with the typical property selling for $252,000. Sales dipped 0.4 percent as buyers confronted a shortage of houses for sale.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.redfin.com\/news\/march-chicago-housing-market-tracker\/\" \/>\n<meta property=\"og:site_name\" content=\"Redfin Real Estate News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/redfin\" \/>\n<meta property=\"article:published_time\" content=\"2016-04-14T11:00:33+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-10-05T23:22:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2016\/09\/Chicago-Market-Tracker-NEW.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"715\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Alex Starace\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@redfin\" \/>\n<meta name=\"twitter:site\" content=\"@redfin\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Alex Starace\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/march-chicago-housing-market-tracker\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/march-chicago-housing-market-tracker\\\/\"},\"author\":{\"name\":\"Alex Starace\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#\\\/schema\\\/person\\\/2e4cf48161e5650d0f478608684eea95\"},\"headline\":\"Chicago Home Prices Up 12 Percent As Scarcity Takes Hold\",\"datePublished\":\"2016-04-14T11:00:33+00:00\",\"dateModified\":\"2020-10-05T23:22:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/march-chicago-housing-market-tracker\\\/\"},\"wordCount\":624,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/march-chicago-housing-market-tracker\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2016\\\/09\\\/Chicago-Market-Tracker-NEW.jpg\",\"keywords\":[\"Housing Market Tracker\",\"Local\"],\"articleSection\":[\"Regional Trends\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.redfin.com/news\\\/march-chicago-housing-market-tracker\\\/#respond\"]}],\"copyrightYear\":\"2016\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/march-chicago-housing-market-tracker\\\/\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/march-chicago-housing-market-tracker\\\/\",\"name\":\"Chicago Home Prices Up 12 Percent As Scarcity Takes Hold - Redfin Real Estate News\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/march-chicago-housing-market-tracker\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/march-chicago-housing-market-tracker\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2016\\\/09\\\/Chicago-Market-Tracker-NEW.jpg\",\"datePublished\":\"2016-04-14T11:00:33+00:00\",\"dateModified\":\"2020-10-05T23:22:51+00:00\",\"description\":\"Chicago home prices were up 12 percent in March from a year ago, with the typical property selling for $252,000. Sales dipped 0.4 percent as buyers confronted a shortage of houses for sale.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/march-chicago-housing-market-tracker\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.redfin.com/news\\\/march-chicago-housing-market-tracker\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/march-chicago-housing-market-tracker\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2016\\\/09\\\/Chicago-Market-Tracker-NEW.jpg\",\"contentUrl\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2016\\\/09\\\/Chicago-Market-Tracker-NEW.jpg\",\"width\":1200,\"height\":715},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/march-chicago-housing-market-tracker\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.redfin.com/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Chicago Home Prices Up 12 Percent As Scarcity Takes Hold\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#website\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/\",\"name\":\"Redfin Real Estate News\",\"description\":\"The latest real estate news and research from technology-powered residential real estate company, Redfin.\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.redfin.com/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#organization\",\"name\":\"Redfin\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.redfin.com\\\/news\\\/wp-content\\\/uploads\\\/2020\\\/10\\\/Redfin-News-Logo.png\",\"contentUrl\":\"https:\\\/\\\/www.redfin.com\\\/news\\\/wp-content\\\/uploads\\\/2020\\\/10\\\/Redfin-News-Logo.png\",\"width\":1100,\"height\":235,\"caption\":\"Redfin\"},\"image\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/redfin\",\"https:\\\/\\\/x.com\\\/redfin\",\"https:\\\/\\\/www.instagram.com\\\/redfinrealestate\\\/\",\"https:\\\/\\\/www.linkedin.com\\\/company\\\/redfin\",\"https:\\\/\\\/www.pinterest.com\\\/redfin\\\/\",\"https:\\\/\\\/en.wikipedia.org\\\/wiki\\\/Redfin\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#\\\/schema\\\/person\\\/2e4cf48161e5650d0f478608684eea95\",\"name\":\"Alex Starace\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2025\\\/06\\\/Redfin-2025-Logo-B-150x150.jpgb98d1f204d143aab6d4240c534a1657e\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2025\\\/06\\\/Redfin-2025-Logo-B-150x150.jpg\",\"contentUrl\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2025\\\/06\\\/Redfin-2025-Logo-B-150x150.jpg\",\"caption\":\"Alex Starace\"},\"description\":\"Alex provides journalists with the information they need for their stories. Prior to joining Redfin, he was a freelance writer who wrote extensively on the ins and outs of condo purchasing. He also covered luxury goods, with a minor in book reviews. He lives in Chicago and is lucky enough to be able to walk to work. Redfin is a full-service real estate brokerage that uses modern technology to make clients smarter and faster. For more information about working with a Redfin real estate agent to buy or sell a home, visit our \\\"Why Redfin?,\\\" page.\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/author\\\/alex-staraceredfin-com\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Chicago Home Prices Up 12 Percent As Scarcity Takes Hold - Redfin Real Estate News","description":"Chicago home prices were up 12 percent in March from a year ago, with the typical property selling for $252,000. Sales dipped 0.4 percent as buyers confronted a shortage of houses for sale.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.redfin.com\/news\/march-chicago-housing-market-tracker\/","og_locale":"en_US","og_type":"article","og_title":"Chicago Home Prices Up 12 Percent As Scarcity Takes Hold","og_description":"Chicago home prices were up 12 percent in March from a year ago, with the typical property selling for $252,000. Sales dipped 0.4 percent as buyers confronted a shortage of houses for sale.","og_url":"https:\/\/www.redfin.com\/news\/march-chicago-housing-market-tracker\/","og_site_name":"Redfin Real Estate News","article_publisher":"https:\/\/www.facebook.com\/redfin","article_published_time":"2016-04-14T11:00:33+00:00","article_modified_time":"2020-10-05T23:22:51+00:00","og_image":[{"width":1200,"height":715,"url":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2016\/09\/Chicago-Market-Tracker-NEW.jpg","type":"image\/jpeg"}],"author":"Alex Starace","twitter_card":"summary_large_image","twitter_creator":"@redfin","twitter_site":"@redfin","twitter_misc":{"Written by":"Alex Starace","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.redfin.com\/news\/march-chicago-housing-market-tracker\/#article","isPartOf":{"@id":"https:\/\/www.redfin.com\/news\/march-chicago-housing-market-tracker\/"},"author":{"name":"Alex Starace","@id":"https:\/\/www.redfin.com\/news\/#\/schema\/person\/2e4cf48161e5650d0f478608684eea95"},"headline":"Chicago Home Prices Up 12 Percent As Scarcity Takes Hold","datePublished":"2016-04-14T11:00:33+00:00","dateModified":"2020-10-05T23:22:51+00:00","mainEntityOfPage":{"@id":"https:\/\/www.redfin.com\/news\/march-chicago-housing-market-tracker\/"},"wordCount":624,"commentCount":0,"publisher":{"@id":"https:\/\/www.redfin.com\/news\/#organization"},"image":{"@id":"https:\/\/www.redfin.com\/news\/march-chicago-housing-market-tracker\/#primaryimage"},"thumbnailUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2016\/09\/Chicago-Market-Tracker-NEW.jpg","keywords":["Housing Market Tracker","Local"],"articleSection":["Regional Trends"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.redfin.com\/news\/march-chicago-housing-market-tracker\/#respond"]}],"copyrightYear":"2016","copyrightHolder":{"@id":"https:\/\/www.redfin.com\/news\/#organization"}},{"@type":"WebPage","@id":"https:\/\/www.redfin.com\/news\/march-chicago-housing-market-tracker\/","url":"https:\/\/www.redfin.com\/news\/march-chicago-housing-market-tracker\/","name":"Chicago Home Prices Up 12 Percent As Scarcity Takes Hold - Redfin Real Estate News","isPartOf":{"@id":"https:\/\/www.redfin.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.redfin.com\/news\/march-chicago-housing-market-tracker\/#primaryimage"},"image":{"@id":"https:\/\/www.redfin.com\/news\/march-chicago-housing-market-tracker\/#primaryimage"},"thumbnailUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2016\/09\/Chicago-Market-Tracker-NEW.jpg","datePublished":"2016-04-14T11:00:33+00:00","dateModified":"2020-10-05T23:22:51+00:00","description":"Chicago home prices were up 12 percent in March from a year ago, with the typical property selling for $252,000. Sales dipped 0.4 percent as buyers confronted a shortage of houses for sale.","breadcrumb":{"@id":"https:\/\/www.redfin.com\/news\/march-chicago-housing-market-tracker\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.redfin.com\/news\/march-chicago-housing-market-tracker\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.redfin.com\/news\/march-chicago-housing-market-tracker\/#primaryimage","url":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2016\/09\/Chicago-Market-Tracker-NEW.jpg","contentUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2016\/09\/Chicago-Market-Tracker-NEW.jpg","width":1200,"height":715},{"@type":"BreadcrumbList","@id":"https:\/\/www.redfin.com\/news\/march-chicago-housing-market-tracker\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.redfin.com\/news\/"},{"@type":"ListItem","position":2,"name":"Chicago Home Prices Up 12 Percent As Scarcity Takes Hold"}]},{"@type":"WebSite","@id":"https:\/\/www.redfin.com\/news\/#website","url":"https:\/\/www.redfin.com\/news\/","name":"Redfin Real Estate News","description":"The latest real estate news and research from technology-powered residential real estate company, Redfin.","publisher":{"@id":"https:\/\/www.redfin.com\/news\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.redfin.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.redfin.com\/news\/#organization","name":"Redfin","url":"https:\/\/www.redfin.com\/news\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.redfin.com\/news\/#\/schema\/logo\/image\/","url":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2020\/10\/Redfin-News-Logo.png","contentUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2020\/10\/Redfin-News-Logo.png","width":1100,"height":235,"caption":"Redfin"},"image":{"@id":"https:\/\/www.redfin.com\/news\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/redfin","https:\/\/x.com\/redfin","https:\/\/www.instagram.com\/redfinrealestate\/","https:\/\/www.linkedin.com\/company\/redfin","https:\/\/www.pinterest.com\/redfin\/","https:\/\/en.wikipedia.org\/wiki\/Redfin"]},{"@type":"Person","@id":"https:\/\/www.redfin.com\/news\/#\/schema\/person\/2e4cf48161e5650d0f478608684eea95","name":"Alex Starace","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/06\/Redfin-2025-Logo-B-150x150.jpgb98d1f204d143aab6d4240c534a1657e","url":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/06\/Redfin-2025-Logo-B-150x150.jpg","contentUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/06\/Redfin-2025-Logo-B-150x150.jpg","caption":"Alex Starace"},"description":"Alex provides journalists with the information they need for their stories. Prior to joining Redfin, he was a freelance writer who wrote extensively on the ins and outs of condo purchasing. He also covered luxury goods, with a minor in book reviews. He lives in Chicago and is lucky enough to be able to walk to work. Redfin is a full-service real estate brokerage that uses modern technology to make clients smarter and faster. For more information about working with a Redfin real estate agent to buy or sell a home, visit our \"Why Redfin?,\" page.","url":"https:\/\/www.redfin.com\/news\/author\/alex-staraceredfin-com\/"}]}},"_links":{"self":[{"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/posts\/47255","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/users\/13053"}],"replies":[{"embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/comments?post=47255"}],"version-history":[{"count":0,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/posts\/47255\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/media\/53488"}],"wp:attachment":[{"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/media?parent=47255"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/categories?post=47255"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/tags?post=47255"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/coauthors?post=47255"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}