In the video above, we discussed how the real estate market has changed year over year in the nation and Chicago as a whole. We talked about ways to look at whether the time is right to buy or sell.

The charts below show how this same data looks in the downtown neighborhoods of Chicago. Please let me know if you would like information about your neighborhood or if you are ready to buy or sell your Chicago home.

Skip to the neighborhood of your choice: Loop, South Loop, West Loop, Near North Side


Loop (Area 8032: Including Printer’s Row) Search for condos in the Loop.

Loop Exist Home Sales

Existing home sales are up slightly from 292 to 305

Pending home sales are down from 885 to 771

Pending home sales are down a little from 885 to 771

Months supply of inventory is up from 3.9 to 4.5 mos.

Months supply of inventory is up from 3.9 to 4.5 mos.

It is still a seller’s market, but moving just a little slower than last year.


Near South Side (Area 8033: Includes Dearborn Park, Museum Park and the South Loop) Search for condos (including townhomes) and houses in the Near South Side.

Attached
Condos & Townhomes

Existing home sales are up from  196 to 208

Existing home sales are up from 196 to 208

Pending home sales are down from 812 to 769

Pending home sales have had a wild ride, but YoY are down from 812 to 765

Months supply of inventory is down from 3.3 to 3.1 mos

Months supply of inventory is down just a touch from 3.3 to 3.1 mos. This is very low, creating a strong seller’s market.

Detached
Single Family Homes

Existing home sales are down from 3 to 1

Existing home sales are down from 3 to 1

Pending home sales are down from 11 to 7

Pending home sales are down from 11 to 7

Months supply of inventory has gone down from 1.8 to 1 mos

Months supply of inventory is down from 1.8 to 1 mos.

Take note, that the one single family home that is on the market has been on and off. It is listed for over $2m, a price point that excludes many buyers. A well-priced and nicely appointed house for closer to $1m would likely sell very fast!


Near West Side (Area 8028: Includes Medical Center, Pilsen, and University Village) Search for condos (including townhomes) and houses in the Near West Side.

Attached
Condos & Townhomes

Existing home sales are up from 196 to 208

Existing home sales are down slightly from 226 to 222

Pending home sales are down from 812 to 765

Pending home sales are down from 1,109 to 1,053

Months supply of inventory is down from 3.3 to 3.1 mos

Months supply of inventory is flat at 2.5 mos

Pending sales may be down YoY, but they have been on an upswing since November. Buyers are looking west!

Detached
Single Family Homes

Existing homes for sale are up from 15 to 17

Existing homes for sale are up a touch from 15 to 17

Pending home sales are down from 30 to 27

Pending home sales are down slightly from 30 to 27

Months Inventory is up from 4.6 to 7.4

Months Inventory is up from 4.6 to 7.4

While the differences between existing and pending sales is very slight they make a big impact on the months supply of inventory. Greater than 7 months is considered a buyer’s market and prices can start to see a decline. Because there are far more condos than single-family homes in this neighborhood the outlook on single-family homes can change very quickly.


Near North Side (Area 8008: Includes Gold Coast, Goose Island, Magnificent Mile, Old Town, and Streeterville) Search for condos (including townhomes) and houses in the Near North Side.

Attached
Condos & Townhomes

Existing home sales are up from 770 to 981

Existing home sales are up from 770 to 981

Pending sales are up from 2603 to 2623

Pending sales are also up from 2,603 to 2,623

Months supply of inventory is up from 3.5 to 4.6

Months supply of inventory is up from 3.5 to 4.6

Existing sales are up by 211 homes and pending sales are up by 20 homes. Inventory is climbing faster than homes can sell. If this keeps up this neighborhood is headed in the direction of a buyer’s market. It won’t reach that point until there are close to 3 more months of inventory. It will be interesting to see how the inventory levels change as we approach fall in a few months.

Detached
Single Family Homes

Existing home sales are down from 42 to 36

Existing home sales are down from 42 to 36

Pending home sales are down from  35 to 34

Pending home sales are nearly flat with a change from 35 to 34

Months supply of inventory is down from  14.8 to 11.2

Months supply of inventory is down from 14.8 to 11.2

There is still a glut of inventory. With a pretty steady decline in existing sales from April to today this market is heading towards normal, but it still has a ways to go. This is very much a buyer’s market.


For information about real estate in Chicago or resources in your area please contact us and sign up for our free market report!

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