Chicago, Illinois started 2024 with a total of 1,644 single-family homes on the market, with a median home price of $299,945 and an average price per square foot of $221.67. By the end of the year, inventory had increased to 1,651 homes on the market (+0%), with a median home price of $299,000 (0%), and an average price per square foot of $214 (-4%).
At the start of 2024, the median days on market (DOM) was 84 days – by the end of the year, median DOM had decreased to 77 days.
Chicago, Illinois started the year with 42.46% of homes taking a price cut. (For reference, 35% is the national average for price reductions in a "normal" year.) By the end of the year, about 45.06% of homes for sale had taken a price cut.
