What is the cost of living in Chicago?

The median listing price for a home in the Chicago area is $394,500. This is an increase of 3.8% compared to this time last year. You can expect to pay about $221 per square foot. This price per square foot has gone up by 1.8% over the past year. Right now, there are 13,809 homes for sale. This is 7.8% fewer homes compared to last year, meaning there are fewer options available for buyers. Homes are being sold a bit faster than last year, spending 33 days on the market on average, which is 1.5% quicker. About 12.7% of homes have had their prices reduced. This is a small decrease of 0.6% compared to last year. If you are looking to buy, fewer homes on the market and slightly higher prices mean you should be prepared to make decisions more quickly as homes are selling faster.