Chicago Home Sale Growth Now 3x The Nations: 3 Takeaways
Chicago home price growth had been rising at twice the speed of the nation’s average- NOW ITS TRIPLE! Home prices are cooling in the United States (up only 1.8% from last year) but strong demand continues for the somewhat affordable homes that Chicagoland offers. Sales price growth from last year is up almost 6% here. Recall not long ago in the 2010s that Chicago was ranked worst for home growth- 30th out of 30 amongst major metropolitan cities.
Home Sales DropThe number of homes sold in Chicago in April totaled 2,091, a decline of 6.1% from the same time a year earlier. Buyers may be tiring of few options and sales prices well beyond their budgets. This may also reflect the tariff jitters earlier this year. In the larger metro area, 7,857 homes sold in April, down 4.2% from April 2024. This is the biggest decline since September, when sales were down 8.3% from a year earlier. Nationwide, home sales were down 2% in April. Upper End Home Sales Thriving58 homes in the Chicago area have sold for $4 million or more so far this year. By the same time last year, there were only 34 sales. That’s more sales than all of 2019 and there are still 7 months left in 2025. Sales at $4 million are generally one-tenth of 1% of all homes sold in the Chicago area. There’s no guarantee the sales rally will last. Redfin announced pending contracts for homes in the top 5% of prices dropped sharply in April. Contracts are down 9.7% in Chicago. Our Featured Listing4 Beds | 2.1 Baths | 2,452 SqFt | Built 1943 | MLS #12333638 Property DescriptionClassic and timeless Tudor style home in Sauganash. This 4 bedroom, 2 and 1/2 bath beauty soars to the sky with a rare third story addition (2004). Hardwood floors throughout. Enjoy your coffee in front of the living room fireplace as morning sun pours through the large east facing windows. |
