Chicago Real Estate Market Trends for May 2016

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Chicago Real Estate Market Trends for May 2016

Chicago Real Estate Sales – Detached Single Homes

Neighborhoods included in these statistics are: Avondale, Albany Park, Edgewater, Irving Park, Lakeview, Lincoln Park, Lincoln Square, Logan Square, Loop, Near North Side, Near South Side, Near West Side, North Park, North Center, Rogers Park, Uptown, West Ridge, West Town.

The number of Chicago detached single homes selling in May 2016 increased by 2.56% compared to May 2015. The average selling price increased by 6,72% to $895,916 and the average market time increased by 15 days or 18.0%. Homes sold for 97% of the listed price.

Date

Sold Listings

Average
Sold Price

SP:LP

Average
Market Time

May 2016

200

$895,916

97%

98

May 2015

195

$839,436

98%

83


Chicago Real Estate Sales – Attached Single Homes

The number of Chicago attached single homes selling in May 2016 increased by 7.41% for the month when compared to May 2015. The average selling price increased 2.04% to $423,247 and the average market time dropped 12 days or 16.6%. Homes sold for 98% of the listed price.

Date

Sold Listings

Average
Sold Price

SP:LP

Average
Market Time

May 2016

1,608

$423,247

99%

60

May 2015

1,497

$414,776

98%

72


Chicago Real Estate Sales – 2-4 Flats

The number of Chicago multi-family properties selling in May 2016 increased by 9.09% when compared to May 2015. The average selling price increased 7.57% to $609,301 and the average market time decreased by 14 days or 2.0%. Homes sold for 97% of the listed price.

Date

Sold Listings

Average
Sold Price

SP:LP

Average
Market Time

May 2016

84

$609,301

97%

56

May 2015

77

$566,379

97%

70

Curious about the value of your home? Get your home’s value here!

Information courtesy of Chicago Realtor Karen Breen Elia.

MAKING A POSITIVE DIFFERENCE IN PEOPLE’S LIVES.

Karen Breen Elia & Louis M. Elia, REALTORS®, are brokers for homes, condos, and multi-unit properties on Chicago’s North Side.

ChicagoCityHomes, RE/MAX Exclusive Properties

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