Chicago’s median home sale price reached $370,000 last month, a 7.2% increase from 2024, according to the latest report from the Chicago Association of Realtors.
The number of homes available to buy in Chicago continues to be tight, with inventory in October declining 21.5% year over year. After a competitive spring season, buyers are fatigued, according to Mike Opyd, broker at RE/MAX Premier.
But as the holidays approach, Opyd said homebuyers should keep an eye out for deals.
“A lot of times during the winter months, around Christmas and January, it’s really when you get the best deals,” Opyd said. “And it’s mainly because sellers [aren’t] testing the market. They’re really kind of in that, ‘We got to sell; we’re willing to negotiate’ mentality.”
Lutalo McGee, president of the Chicago Association of Realtors, said buyers should be competitive with their offers early.
“With the prices going up and the inventory being low, we tell our buyers they got to put their best foot forward when they’re putting their offers together,” McGee said. “I see so many people who listen to people who are not necessarily experts [and they] shoot themselves in the foot. They found their dream home or dream property, but then they want to try to beat the seller up on the offer … losing to someone else.”
The Chicago Sun-Times checked to see what a person could buy at the city’s median sale price. Here are five Chicago listings, according to Redfin data.
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Provided by Keller Williams ONEChicago
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Provided by Keller Williams ONEChicago
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Provided by Keller Williams ONEChicago
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Provided by Keller Williams ONEChicago
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Provided by Keller Williams ONEChicago
700 N. Larrabee St., #1406, River North
Price: $370,000
HOA: $795/month
Size: 1,034 square feet, 2 bedrooms/1 bath
Built: 2006
Agents: Tommy Choi and Joshua Weinberg of Keller Williams ONEChicago
The north-facing condo with floor-to-ceiling windows has hardwood floors, a private balcony and fireplace in the living room. The kitchen has cherry cabinets, granite countertops, stainless steel appliances and an island with a breakfast bar. A storage unit is included, and a garage parking space is available for an additional $30,000. The unit last sold in 2015 for $351,000 as part of a multi-unit sale, according to property records.
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Provided by Mita Shewakramani
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Provided by Mita Shewakramani
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Provided by Mita Shewakramani
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Provided by Mita Shewakramani
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Provided by Mita Shewakramani
6439 N. Rockwell St., #2, West Ridge
Price: $370,000
HOA: $230/month
Size: 1,600 square feet, 3 bedrooms/2 baths
Built: 2006
Agent: Mita Shewakramani
The open floor plan condo has a private deck and separate Juliet balcony. The unit’s primary bathroom has double sinks, shower and Jacuzzi bath, listing agent Mita Shewakramani said. It also has a garage parking spot, new water heater and in-unit washer and dryer. Additional storage is included in the building.
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Provided by Baird & Warner
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Provided by Baird & Warner
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Provided by Baird & Warner
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Provided by Baird & Warner
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Provided by Baird & Warner
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Provided by Baird & Warner
2020 N. Lincoln Park W. St., #3G, Lincoln Park
Price: $369,000
HOA: $944/month
Size: 829 square feet, 1 bedroom/1 bath
Built: 1972
Agents: Danny Lewis and Gerardo Tapia-Quiroz of Baird & Warner
The southeast corner unit has more than 45 feet of recently replaced wall-to-wall windows. The home has a private balcony, remodeled kitchen with an island, tile flooring and stainless steel appliances. The bedroom includes built-in shelving. The condo has two front hall closets, plus a linen closet. Amenities in the building include 24-hour door staff, dry cleaner, fitness center, yoga room, outdoor pool, sauna, hot tub, tennis and basketball courts and outdoor lounges with fire pits. Attached reserved garage parking is available for $200 to $210 per month. The unit last sold in 2022 for $245,000, according to property records.
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Provided by Exit Strategy Realty/EMA Management
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Provided by Exit Strategy Realty/EMA Management
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Provided by Exit Strategy Realty/EMA Management
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Provided by Exit Strategy Realty/EMA Management
8821 S. Princeton Ave., Roseland
Price: $367,000
Size: 2,140 square feet, 4 bedrooms/3 baths
Agent: Ursula Shine of Exit Strategy Realty/EMA Management
The single-family home on a double lot has two separate two-car garages. The first floor has a living room, dining area, eat-in kitchen, bathroom and a bedroom with a private deck. The second floor has two additional bedrooms and a bathroom. The fourth bedroom is on the lower level, along with a family room and bathroom. The property last sold in 2023 for $118,000, according to Cook County property records.
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Provided by Keller Williams ONEChicago
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Provided by Keller Williams ONEChicago
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Provided by Keller Williams ONEChicago
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Provided by Keller Williams ONEChicago
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Provided by Keller Williams ONEChicago
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Provided by Keller Williams ONEChicago
2310 S. Canal St., #401, Chinatown
Price: $365,000
HOA: $576/month
Size: 1,411 square feet, 2 bedrooms/2 baths
Built: 2001
Agents: Patrick Dodd and Katie Mendez of Keller Williams ONEChicago
The timber-loft condo has 13-foot exposed ceilings, hardwood floors, wall-to-wall windows and a private balcony. The corner unit also has an open-concept kitchen with an island, granite countertops and stainless steel appliances. Both bathrooms have double vanities, separate showers and a whirlpool tub. There is also in-unit laundry, central air, a fireplace and heated garage parking. The unit was last sold in 2018 for $290,000, as part of a multi-unit deal, according to property records.