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NEWSLETTER
Key Themes in Chicago Real Estate Market (as of August 19, 2025) Based on recent reports from sources like the Chicago Association of Realtors, Norada Real Estate, and Redfin, the market shows stabilization with rising inventory and ongoing affordability issues. ThemeDescriptionNotesIncreased InventoryInventory is rising, potentially past its lowest point, leading to a more balanced market and longer selling times (up 3-4% in days on market).Metro area inventory up 3.4%; city up 6.0% YoY in May, but condo inventory down 11.4%.Affordability ChallengesHigh mortgage rates (6.75%) and prices strain buyers, but Chicago's Midwest affordability edge attracts more interest compared to coasts.Rates expected to drop to 6-6.5% by year-end, boosting accessibility.Sales TrendsSales down 4-5% YoY in May, but summer forecast shows 3.9% increase; nationwide up 9-13% in 2025.Homes selling after ~54 days; single-family sales down 2-3.5%, condos down 10%.Price AppreciationModest growth continuing, with faster appreciation in Midwest; market balanced but leaning seller's.Economic factors like job growth support demand, especially in suburbs. Price Predictions for 2025 Forecasts point to modest increases, with no major drops expected, driven by inventory growth and rate declines. Aspect 2025 Prediction Key Insights Median Home Prices$315K-$402K range; 2-6% YoY increase City median ~$315K (up 5% YoY in May); metro $379K-$402K (up 4.4-5.5%); nearly 6% overall vs. 2024.Overall Growth1-4% increaseSlowing to 1-2% through fall; statewide 2-4%; single-family up ~1% May-Aug.Factors InfluencingRate drops to 6-6.5% could boost sales 9-13%; inventory tempers sharp rises. No crash; stable if economy holds; potential for 7% YoY by Aug end in some areas.
Key Themes in Chicago Real Estate Market (as of August 18, 2025) Based on recent reports from sources like Redfin, Zillow, and local associations, the Chicago market is showing signs of stabilization amid national trends. ThemeDescriptionNotesIncreased InventoryMore homes are hitting the market, leading to a more balanced buyer-seller dynamic and slower price growth.Inventory rising, easing pressure; homes selling after ~54 days on average.Affordability ChallengesHigh prices and mortgage rates (around 6.5-6.7%) continue to strain buyers, but improving inventory offers some relief.Many homeowners "rate-locked" at low rates from prior years.Suburban and Neighborhood ShiftsDemand strong in suburbs like La Grange; urban infill challenged by costs and zoning.Popular areas seeing modest growth; construction tempered.Market StabilizationSales improving slightly, but no boom; competition expected to rise with dropping rates.Post-pandemic adjustments ongoing; no crash anticipated. Price Predictions for 2025 Forecasts indicate modest growth, with Chicago outperforming some national trends due to local advantages. Aspect2025 Prediction Key Insights Median Home Prices$385K-$400K range; 3-7% YoY increaseChicago median at $385K (up 5.5% YoY); statewide projection 7% higher by Aug 2025.Overall Growth Modest 1-4% increase Slowing from recent years; 1-2% through fall, then stable.Factors InfluencingInventory rise tempers growth; rates easing to 6-6.5% boosts sales 9-13% nationally, benefiting Chicago.Potential stagnation if supply outpaces demand; no major declines expected.
As of August 16, 2025, the Chicago real estate market exhibits moderate growth with stabilizing prices, increasing inventory, and a shift toward buyer advantages in some segments. Mortgage rates hover around 6.67%, potentially easing further, while forecasts predict 1-3% price increases through 2026. Focus shifts to neighborhood hotspots like Lincoln Park and suburbs, alongside strong rental demand. This summary highlights neighborhood trends, rental insights, and investment forecasts, differing from prior updates by emphasizing regional variations and long-term projections. Key Market Statistics (Chicago Metro Area): Metric Value Year-over-Year Change Source Median Home Price (City of Chicago) $315,894+1.4%Zillow Median Home Price (Chicago Metro)$379,900+5.5% (from May 2024)NORADA Real EstateMedian Listing Price (July 2025, Redfin)$385,000+5.5%RedfinAverage Days on Market54 daysIncreased moderatelyRedfinMortgage Rate (30-Year Fixed)6.67%Stable, slight decline expectedBankrateInventory LevelsIncreasingMore options for buyersChicago Association of Realtors Trends and Forecasts: Neighborhood Dynamics: Hot areas include Lincoln Park (affluent, historic charm) and Logan Square (77% price surge in some segments). Suburbs like Evanston and Oak Park attract families; emerging spots like Hyde Park and Bronzeville see revitalization. North Center shows steady median prices at $498,000 with 28 days on market. Rental Market: Average rent ~$1,916/month (up 3.5% YoY), with studios and two-bedrooms rising fastest. Downtown one-beds at $3,150; tight market boosts investor yields. Sales and Projections: National sales up 9-13% in 2025; Chicago mirrors with modest growth. Prices expected to rise 2-3% annually through 2026, reaching ~$480K-520K median by 2030. Inventory growth provides buyer leverage. Investment Outlook: Affordability draws from coasts; industrial and multifamily strong, offices challenged with 24-27% vacancies. Potential 20-30% appreciation by 2030 in stable areas. Other News: Policy shifts reduce parking requirements near transit for affordability; downtown revival possible with office returns.
August 15, 2025, the Chicago real estate market continues to show resilience with rising prices, though at a moderated pace, and increasing inventory levels providing more options for buyers. Mortgage rates have dipped slightly to around 6.58%, potentially boosting activity. Home sales remain active despite some regional price softening in the U.S. Here's an updated summary based on the latest reports, focusing on new developments and shifts since yesterday: Key Market Statistics (Chicago Metro Area): MetricValueYear-over-Year ChangeSource Median Home Price (City of Chicago)$315,000+5.0% (from May 2024)NORADA Real Estate Median Home Price (Chicago Metro)$402,000+4.4%Jason Rosenberg Real Estate Average Home Value (Zillow)$315,894+1.4%Zillow Median Listing Price (July 2025, Redfin)$385,000+5.5%Redfin Average Days on Market54 daysIncreased slightlyRedfin Mortgage Rate (30-Year Fixed)6.58%Down from yesterday's 6.61%Yahoo Finance Inventory LevelsIncreasingSupporting buyer activityConnectCRE Trends and Forecasts: Price Dynamics: While national home prices are dropping in some Southern and Western regions, Chicago's market sees continued growth (2-4% forecasted for 2025 in Illinois), driven by demand in key areas. Experts note a shift toward balance, with sellers advised to prepare for more competition. Sales and Affordability: July 2025 saw 434,816 new listings nationwide (up 7.3% YoY), with Chicago benefiting from lower rates that could ease below 6% by 2026. Multifamily absorption is strong, with Chicago leading at 9,300 units in Q2. Buyers and Sellers: Market shifting from seller-dominated; prices slightly down in some segments, but buyers active. New ordinance cuts parking requirements near transit to reduce costs and boost affordable housing. Commercial/Other News: CBRE brokered a $3.2M sale of a creative office in River North today. Barrington Township property tax appeal deadline is August 15. Chicago-based Evergreen Real Estate plans 60-unit affordable housing in Denver. CTA's $24-30M contract with JLL for HQ management raises market rate questions. Investors should monitor suburbs and multifamily sectors for opportunities; local realtors can provide tailored insights.
As of August 14, 2025, the Chicago real estate market shows steady growth with modest price increases, rising inventory, and improved affordability compared to national trends. Home sales are expected to rise, but buyers face challenges from mortgage rates around 6.6%. Here's a summary of the most important current information, based on recent reports and data: Key Market Statistics (Chicago Metro Area): MetricValueYear-over-Year ChangeSource Median Home Price (City of Chicago)$315,000+5.0% (from May 2024)NORADA Real Estate Median Home Price (Chicago Metro)$379,900+5.5% (from May 2024)NORADA Real Estate Average Home Value (Zillow)$315,894+1.4%Zillow Median Listing Price (July 2025, Redfin)$385,000+5.5%Redfin Average Days on Market54 daysIncreased slightlyRedfin Mortgage Rate (30-Year Fixed)6.61%Down 6 basis points todayNORADA Real Estate Inventory LevelsIncreasingProviding more options for buyersChicago Association of Realtors Trends and Forecasts: Price Growth: Home prices are still rising but at a slower pace (1-2% expected through early 2026). Experts predict continued modest increases due to demand in suburbs like Wheaton, Rockford, and Bloomington, which rank among the hottest U.S. ZIP codes. Sales Outlook: Nationwide home sales projected to increase 9-13% in 2025; Chicago benefits from better affordability and inventory growth. Buyers and Sellers: Buyers remain active despite slightly lower prices in some areas; sellers see opportunities in a shifting market. Commercial/Other News: A 42-story apartment tower near Millennium Park is for sale. Crypto-backed apartments are coming to the lakefront. Suburbs like Glen Ellyn are "hot" with strong
August 13, 2025: Market Activity: Today, 36 new listings hit the market in the North and Northwest Side neighborhoods, with 44 homes going under contract in the last 24 hours (per @deanteam X post). This marks a slight dip from yesterday’s 47 new listings and 48 contracts, suggesting a cooling but still vibrant pace. Price Movement: Fresh data indicates the median sale price held steady at $402,000, but early reports hint at a potential 0.5% uptick in some North Side areas due to competitive bidding on new listings—check local MLS for confirmation. Inventory Shift: Inventory remains at 19,890 homes, but today’s lower new listings (36 vs. 47) may signal a tightening supply trend, differing from yesterday’s broader activity. Local Highlight: Jefferson Park saw a spike in interest today with two luxury homes (over $700K) listed, contrasting yesterday’s focus on more affordable Bronzeville and Avondale—watch for buyer competition here. Weather Impact: Clear skies continue, but a forecast for thunderstorms this afternoon could push open houses to morning slots, differing from yesterday’s all-day accessibility.
August 12, 2025, based on current trends: Market Snapshot: The Chicago housing market remains somewhat competitive (Redfin score 58/100). The median sale price hit $402,000 in June 2025, up 4.4% year-over-year, with homes selling in 49 days on average. Inventory rose 6% to 19,890 homes, easing buyer pressure slightly. Price Trends: Median listing price in May 2025 was $359.9K, down 7.5% from last year (realtor.com), while the average home value is $315,409, up 1.4% (Zillow). Sales dipped 4.7% to 12,674 closed deals in May, reflecting cautious buyer activity. Key Areas: Neighborhoods like Near North Side ($500K median) and Lincoln Park ($757.5K) lead, while South Shore ($137.1K) offers affordability. Suburbs like Kildeer and Hawthorn Woods are hot for buyers seeking value. Market Dynamics: Higher mortgage rates (30-year fixed at 6.75%) and low inventory (despite the increase) keep it a balanced market leaning seller-friendly. Expect modest price growth (6% projected for 2025) amid stabilizing demand. Today’s Note: With clear weather, it’s a prime day for open houses—check listings on Redfin or Zillow for updates.
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