Year over year, Back of the Yards is seeing softer prices and slower sales activity in this rolling three-month view. The typical home value is down about 4 percent from last year, and homes sold have fallen more than 13 percent. New listings and pending sales are also down sharply from a year ago, pointing to a cooler pace overall.
Conditions in the latest period still show meaningful movement beneath the surface. Median list prices have surged nearly 25 percent compared with last year, even as the average sale-to-list ratio has edged down and only about 28 percent of recent sales closed above asking. Inventory has loosened significantly, with months of supply up more than two thirds to 5.5 months, a higher level than Chicago overall, where supply sits closer to three months.
Current activity reflects this shift toward more balance between buyers and sellers. Homes are taking a median of 57 days to sell, which is roughly in line with last year but much faster than just a few months ago, while active listings are slightly below year-ago levels. With list prices rising, more supply available, and fewer homes selling above asking than last year, both buyers and sellers can benefit from guidance that fits these mixed signals, and Agent Pronto can connect them with a local Back of the Yards agent who understands how to navigate this market.
