It’s that time of year again: time to take stock of how the Chicago housing market is performing compared to similar seasons in previous years. Here are some of the highlights:
- The neighborhood with the most homes selling over asking price: Humboldt Park. Almost 46% of homes listed in Humboldt Park sold above asking price during the period the report examined.
- Other strong neighborhoods for homes selling over asking: the West Loop and the South Loop.
- Neighborhoods where homes spent the least amount of time on the market: Logan Square and Ukrainian Village.
- Overall, Chicago home prices increased 3.7% over the same period last year.
- Inventory of homes for sale was down significantly since last year. There were more than 23% fewer total sales this year compared to last.
- Median market time for homes in Chicago was 57 days, which is four days fewer than the same period last year.
- The top five most expensive neighborhoods in they city? The Gold Coast, Wicker Park, North Center, Lincoln Park and Bucktown.
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File: Chicago housing market