"In October, home prices fell substantially from the month before, with a median listing price of $360,000. The number of listings on the market remained practically unchanged from last month, which is typical for this time of the year in Chicago, and homes are also selling faster than at the same time last year. Typically, home price per square foot in Chicago tend to fall in October."
"And the most recent data shows that the price per square foot decreased by 2.3% compared with the month before. So, how does this compare with the rest of the U.S.? Nationally, home price per square foot decreased 0.8%, which means price changes in the Windy City are larger the national market. In October, there were 4,401 homes for sale in Chicago, which was 0.3% more than the month before and 16.1% less than the same time last year."
In October, Chicago median listing price fell to $360,000 and price per square foot declined 2.3% from the prior month. Listings on the market were essentially unchanged month-over-month, consistent with seasonal patterns, while inventories were 16.1% below last year with 4,401 homes for sale. New listings in Chicago dropped 20.6% month-over-month and 9.6% year-over-year to 1,814. Nationally, price per square foot fell 0.8% and active inventory remained nearly unchanged at 1,100,001. Homes in Chicago took an average of 38 days to sell, compared with 63 days nationally.
#chicago-housing-market #median-listing-price #price-per-square-foot #inventory--new-listings #days-on-market
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