April slowed down in the Chicago real estate market. We took a look at the numbers, and here’s what we found:
Home sales dropped from a year earlier, and median prices grew at a smaller pace than in some recent months, according to data from the Illinois Association of Realtors. In the city, the April sales total was 4.4 percent below April 2016. In the nine-county metropolitan area, down 2.3 percent from a year earlier.
For the first four months of 2017, city home sales are up 4.4 percent and the nine-county area is up 2.4 percent. That’s due in large part to double-digit percentage increases in March.
The median price of a home sold in the city in April was $297,150, up 3.9 percent compared to a year earlier and the smallest year-over-year increase since August, when prices were up 0.2 percent. In March the median sale price of a city home was up 9.7 percent.
In the nine-county metro area, the median sale price in April was $242,000, up 5.2 percent from a year earlier and the smallest increase since 4.8 percent in September.
In each of the previous three months, January, February and March, the median sale price for the nine-county area rose by a double-digit percentage over the same month last year. March’s figure was 10 percent.