How much is my Chicago home worth?

The typical home in Chicago is currently listed for $392,500. This price is a little lower than last month but still higher than what homes were going for a year ago. Keep in mind that a home's worth depends on many specific factors. Prices have seen a modest increase of 4.1% over the past year. This shows a steady, but not soaring, market. The average listing price is much higher at $925,733, which suggests there are some very expensive homes pulling that average up, so the median gives a better picture for most homes. There are fewer homes for sale right now, with active listings down 7.0% compared to last year. Fewer new homes are also coming onto the market, down 5.5% year-over-year. This can mean less competition among sellers. Homes are selling a bit faster than before, staying on the market for a median of 35 days, which is slightly less than a year ago. Also, 14.1% of homes have had a price drop, which is a little lower than last year, suggesting fewer sellers are needing to cut their prices. To find out your home's specific worth, it's best to consult with a local real estate agent who can look at your unique property and neighborhood details.