Central Chicago currently tilts toward sellers, with the market gauge indicating a seller’s market. Months of supply sits at 2.8 in this rolling three-month view, well below the level that typically signals a balanced market. Homes are still moving at a moderate pace, with a median of 60 days on market.
Home values have trended higher compared with a year ago, with the typical home value up about 5 percent year over year to roughly $437,000. At the same time, the share of homes selling above list price has risen to about one-third of sales, and the average sale-to-list ratio is just under 100 percent, pointing to relatively strong buyer demand. Inventory has tightened, with active listings down more than 11 percent from a year earlier, and new listings and pending sales are also down year over year, which limits options and helps support prices.
Looking back over the past two years, Central Chicago’s supply has dropped from around 4.6–6.5 months in earlier periods to under three months now, even as days on market have generally shortened compared with last year. Compared with the broader Chicago market, Central Chicago’s home values run higher than the citywide median and are paired with slightly lower inventory and supply, reinforcing its seller-leaning conditions. With this mix of firm pricing for sellers and tighter choices for buyers, Agent Pronto can connect both buyers and sellers with an agent who understands these Central Chicago dynamics.
