Chicago - IL housing market
The Chicago metro has a typical home value of $359,888, up 4.5% from a year ago. Homes are moving fast at 9 days on market, a strong seller's market. 21% of listings have had a price cut. Data from Zillow Research, updated monthly.
How to read this data
The typical home value ($359,888) is the Zillow Home Value Index for the Chicago - IL metro area , a smoothed, seasonally adjusted estimate of the typical value for middle-tier homes (33rd to 67th percentile) across single-family and condo properties.
Prices are up 4.5% over the past year. In Chicago - IL, that means a home worth $344,390 last year is now worth roughly $359,888.
The median sale price , what homes actually close for , is $341,788. Homes are selling at 100.3% of list price, meaning buyers are typically paying at or above asking.
Homes listed in Chicago - IL sit on the market for roughly 9 days before going pending. Shorter = seller's market; longer = buyer's market.
About 21.3% of current listings have had at least one price cut. High price-cut shares signal sellers are adjusting expectations downward.
Roughly 10,916 new listings hit the market each month in Chicago - IL. There are currently 23,147 homes for sale, up 0.1% from a year ago.
The typical monthly rent in Chicago - IL is $2,275, up 5.3% year over year. For investors, the price-to-rent ratio here is roughly 13x annual rent.
What's not on this page
This is market-level data, not property-level. We don't list individual homes for sale. For that, go to Zillow, Redfin, or your local MLS.
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Other metros in IL
| Metro | Home value | 1-yr change | Days on market |
|---|---|---|---|
| Peoria - IL | $175,503 | +7.4% | 5.0d |
| Davenport - IA | $197,783 | +5.2% | 8.0d |
| Rockford - IL | $224,410 | +9.0% | 6.0d |