What is the median home price in Chicago?

The median home price in Chicago right now is $389,450. This is the price point where half the homes listed are more expensive and half are less expensive. Looking at how prices have changed, this median price dipped slightly by 1.4% from the prior month. However, it’s still higher than a year ago, showing a 4.6% increase over the past year. There are 15,929 homes currently on the market in the Chicago area. This number is a bit lower than last year, down by 5.3%. The number of brand new listings also dropped by 7.8% compared to a year ago. Homes in Chicago are generally selling fairly quickly. They spend about 36 days on the market before going under contract. This is a bit faster than last year, as the time on market decreased by 4.0%. For those looking to buy or sell, it’s helpful to know that while prices saw a small dip recently, they've still grown significantly over the last year, and homes are moving faster than they were a year ago.