Chicago - IL housing market
The Chicago metro has a typical home value of $353,998, up 4.4% from a year ago. Homes are moving fast at 8 days on market - a strong seller's market. 20% of listings have had a price cut. Data from Zillow Research, updated monthly.
How to read this data
The typical home value ($353,998) 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 4.4% over the past year. In Chicago - IL, that means a home worth $339,079 last year is now worth roughly $353,998.
The median sale price , what homes actually close for , is $337,650. Homes are selling at 99.7% of list price, meaning buyers have room to negotiate.
Homes listed in Chicago - IL sit on the market for roughly 8 days before going pending. Shorter = seller's market; longer = buyer's market.
About 20.1% of current listings have had at least one price cut. High price-cut shares signal sellers are adjusting expectations downward.
Roughly 10,291 new listings hit the market each month in Chicago - IL. There are currently 21,664 homes for sale, down 0.6% from a year ago.
The typical monthly rent in Chicago - IL is $2,266, up 5.4% 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 | $172,742 | +7.7% | 6.0d |
| Davenport - IA | $195,380 | +4.9% | 9.0d |
| Rockford - IL | $221,368 | +9.1% | 7.0d |