Chicago Area Home Sales Keep a Fast Pace
Chicago area home buyers are staying determined! The latest home sales report from Illinois REALTORS© shows robust September sales activity. Here’s how Chicago area home prices shaped up!
The Chicago Metro’s median home price increased to $275,000 in September 2020. This is an increase of 14.6% compared to September 2019.
Narrowing it down to the City of Chicago, the median home sale price reached $322,500, an increase of 10.4% compared to September 2020.
The pace of home sales sped up slightly on a year-over-year basis, with homes spending an average of 37 days on market in the metro area and 34 days on market in the City.
The big story remains the limited number of home for sale. Chicago Metro home inventory included 27,883 homes for sale during September 2020. This a drop of 33.6% compared to September 2019.
In the City of Chicago, home inventory is up slightly, with the 10,661 homes available in September representing an increase of 1.9%
Please keep in mind that real estate statistics are always about two months behind the current market. We can give you information about current home sale trends that you can use today! We can also help you find homes for sale in Chicago and the suburbs – sometimes before they are on the market!
StartingPoint Realty – your Chicago home buying experts!
StartingPoint Realty serves first-time home buyers throughout the entire Chicago area. Get an introduction to home buying by attending our free home buying webinar!
Always feel welcome to contact us for help with your Chicago home buying questions!
Ryan Gable Broker/CEO Starting Point Realty
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