Central Chicago is currently tilted toward sellers, with the market gauge indicating a seller’s market. Months of supply has tightened to about 3.2 months in this rolling three-month view, close to the broader Chicago level of 3.1 months. Homes are moving more quickly than earlier in the year, with the median days on market down to around 50.
Prices have been pushing higher over the past year, with the typical home value up roughly 7 percent year over year to about $465,000. At the same time, the share of homes selling above list has climbed to nearly 37 percent, up from around 24 to 30 percent seen in many recent periods, underscoring strong buyer demand. While active listings are down compared with a year ago, homes sold and pending sales have both risen modestly year over year, showing that buyers are still closing deals even with leaner inventory.
Looking at the rolling three-month data, the average sale-to-list price ratio is essentially at 100 percent, reflecting limited room for deep discounts. Many sellers are achieving prices close to, or above, their asking price, even as some listing prices have edged down from earlier spikes. Whether you are a buyer trying to navigate fast-moving options or a seller aiming to price correctly in this seller-leaning environment, Agent Pronto can connect you with an agent who understands Central Chicago’s latest trends.
