Irving Park currently leans toward sellers, with the market gauge signaling a seller’s market. Months of supply sits at a low 2.1, well under the roughly 3 months seen across Chicago as a whole. Even with this tight inventory, typical home values are slightly higher than a year ago, up a few percent in this rolling three-month view.
Behind that seller tilt, supply and demand have both eased, but supply has thinned more over the past year. Active listings are down notably from last year, falling by the mid-teens percentage-wise, while homes sold dipped only slightly. New listings and pending sales are also lower year over year, suggesting fewer owners are listing and fewer buyers are going under contract, but the balance still favors sellers.
Pricing dynamics show how that balance plays out for both sides of the table. Over half of recent sales closed above list price, and the average sale-to-list ratio is above 102 percent, both higher than a year ago, pointing to strong buyer interest for well-priced homes. At the same time, homes are taking a bit less time to sell than a year ago, with median days on market edging down into the mid-40s. Whether you are a buyer trying to compete effectively or a seller aiming to maximize your return, Agent Pronto can connect you with an Irving Park agent who knows how to navigate these conditions.
