"In November, home prices fell substantially from the month before, with a median listing price of $350,000. The number of listings on the market shrank 5.5% from last month, which is a smaller decrease than normal for this time of the year in Chicago, and homes are also selling close to the same pace as the same time last year."
"Nationally, home price per square foot decreased 1.2%, which means price changes in the Windy City are larger the national market. In November, there were 4,161 homes for sale in Chicago, which was 5.5% less than the month before and 16.5% less than the same time last year. Meanwhile, active inventory across the nation fell by 2.5% from last month to 1,072,266."
Home prices in Chicago fell in November, with a median listing price of $350,000 and a substantial month-over-month decline. Listings on the market decreased 5.5% from October and were 16.5% lower than November last year, leaving 4,161 homes for sale. Price per square foot in Chicago declined 4.1% month-over-month, a larger drop than the national per-square-foot decrease of 1.2%. Active inventory nationwide fell 2.5% to 1,072,266. Homes in Chicago averaged 44 days on the market in November, six days longer than the prior month and two days shorter than November last year, compared with a 64-day national average.
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