Real Estate Market Update for Chicago, IL

Video: Real Estate Community Tour for Chicago, IL

See Real estate community tour for Chicago, IL Welcome to the Windy City! Chicago is the 3rd largest city in the nation with nearly 3 million residents! Downtown, you'll find Millennium Park and The Magnificent Mile. Navy Pier on Lake Michigan leads to the nearby Crystal Gardens. Other attractions include the famous Willis Tower, Buckingham Fountain, and Lincoln Park. The Cubs, White Sox, Bears, Bulls, and Blackhawks are all historic sports teams. A strong public school system is supported by hundreds of private schools and more than 80 colleges and universities, including prestigious Northwestern University. Wicker Park and Bucktown are perfect if you seek luxury real estate. The Highlands, Beverly, and Gold Coast are also great residential areas. Chicago is not only a global financial center but home for many diverse industries. As a major transportation center, Chicago is served by two International airports O'Hare and Midway. Bus, subway, and elevated train service also guarantee rapid transit. Come and see all the Windy City has to offer!
Welcome to August's Market Update. Let’s take a look at residential real-estate activity in your area during the month of July. The number of active listings was down 22% from one year earlier, and down 5% from the previous month. This smaller inventory means that buyers who waited to buy may have had a smaller selection to choose from. As you can see, the median listing price for the month was just under 270-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was down 5%. This lower number of days may signal a positive trend in the local inventory-turnover rate. The median sale price was just under 290-thousand dollars. The number of units sold decreased 12% year-over-year, and decreased 18% month-over-month. Fewer sales could indicate an opportunity for buyers to negotiate better terms. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.
Welcome to the Windy City! Chicago is the 3rd largest city in the nation with nearly 3 million residents! Downtown, you'll find Millennium Park and The Magnificent Mile. Navy Pier on Lake Michigan leads to the nearby Crystal Gardens. Other attractions include the famous Willis Tower, Buckingham Fountain, and Lincoln Park. The Cubs, White Sox, Bears, Bulls, and Blackhawks are all historic sports teams. A strong public school system is supported by hundreds of private schools and more than 80 colleges and universities, including prestigious Northwestern University. Wicker Park and Bucktown are perfect if you seek luxury real estate. The Highlands, Beverly, and Gold Coast are also great residential areas. Chicago is not only a global financial center but home for many diverse industries. As a major transportation center, Chicago is served by two International airports O'Hare and Midway. Bus, subway, and elevated train service also guarantee rapid transit. Come and see all the Windy City has to offer!
Show Transcript
Map Information for Chicago, IL
Area Information for Chicago, IL
  • Population: 2,758,555
  • Median Age: 34.83 yr
  • Median Commute Time: 34 mins
  • Educational Climate*: 3
  • Sales Tax: 10%
  • Population Density: 12,117/sq mi
  • Population Change Since 2000: -4.3%
  • Closest Airport: Chicago Midway International
  • Closest College: University Of Il-college Of Medicine
  • Closest Jr. College: Malcolm X College-city Clgs Chicago
  • Median Household Income: $49,562
  • Annual Residential Turnover: 15%
  • Median Home Sales Price: $242,000
  • Closest Major Sports Team: Chicago Blackhawks
  • Change Avg. Household Income Since 2000: 37.33%
* Scale from 1-5  ** Index where 100 is the national average
Demographic Data for Chicago, IL
Median Age: 34.83 Married: 28% Number of Households: 1,076,439 Households with Children: 274,063
Community:
    • Occupancy Types
      • 3599 Vacant
      • 8822 Owned
      • 12512 Rented
    • Transportation to Work
      • 43% Drive
      • 47% Public Transportation
      • 8% Walk / Bike / Other
      • 8% Work at Home
    National Index Comparisons:
    (100 National Average)
      • Population By Sex(%)
        • 50% Male
        • 50% Female
      • White/Blue Collar Jobs
        • 50% White Collar
        • 50% Blue Collar
      School Data for Chicago, IL

      School Name Distance Type Grades School Rating Parent Rating
      Greater Lawndale High School For Social Justice 0.7 mi Public 9-12 0 4
      Infinity Math Science And Technology High School 0.7 mi Public 9-12 1 4
      World Language High School 0.7 mi Public 9-12 0 3
      Multicultural Academy Of Scholarship 0.7 mi Public 9-12 0 3
      Phoebe A Hearst Elementary School 1.5 mi Public K-8 0 0
      Our Lady Of Tepeyac High School 2.2 mi Catholic 9-12 0 0
      Eric Solorio Academy High School 2.3 mi Public 9-12 3 4
      Unity Jr High School 2.4 mi Public 7-8 1 3
      Mark Twain Elementary School 2.4 mi Public PRESCHOOL-8 4 5
      North Lawndale College Prep - Christiana 2.5 mi Public 9-12 0 4
      Catalyst Elementary Charter School 2.5 mi Public K-8 0 0
      Theodore Herzl Elementary School 2.5 mi Public PRESCHOOL-8 0 0
      Community Services West High School 2.7 mi Public 11-12 0 0
      Florence Nightingale Elementary School 2.8 mi Public K-8 1 5
      Back Of The Yards Ib High School 2.9 mi Public 9-12 0 4
      Cristo Rey Jesuit High School 3.4 mi Catholic 9-12 0 4
      Manley Career Academy High School 3.4 mi Public 9-12 0 3
      Orozco Fine Arts & Sciences Elementary School 3.5 mi Public PRESCHOOL-8 3 0
      Peace And Education Coalition High School 3.5 mi Public 9-12 0 0
      Jensen Elementary Scholastic Academy 3.6 mi Public PRESCHOOL-8 0 4
      Legal Prep Charter Academy 3.8 mi Public 9-12 0 0
      De La Salle Institute - Lourdes Hall Campus 3.9 mi Catholic 9-12 0 3
      Simpson Academy High School For Young Women 4.1 mi Public 6-12 0 0
      Raby High School 4.2 mi Public 9-12 0 4
      Claremont Academy Elementary School 4.2 mi Public PRESCHOOL-8 0 0
      Robert Lindblom Math & Science Acad High School 4.2 mi Public 7-12 3 4
      Austin Bus & Entrepreneurship High School 4.4 mi Public 9-12 0 4
      Westinghouse High School 4.5 mi Public 9-12 4 4
      Tilden Career Communty Academy High School 4.6 mi Public 9-12 0 3
      Robert Healy Elementary School 4.6 mi Public PRESCHOOL-8 5 0
      Orr Academy High School 4.7 mi Public 9-12 0 2
      St. Ignatius College Prep 4.8 mi Catholic 9-12 0 4
      Jackson A Elementary Language Academy 4.8 mi Public K-8 5 0
      Whitney M Young Magnet High School 4.9 mi Public 7-12 5 4
      Air Force Academy High School 4.9 mi Public 9-12 1 4
      Sarah E Goode Stem Academy High School 5.1 mi Public 9-12 0 4
      Youth Connections Charter High School 5.3 mi Public 10-12 0 3
      Milton Brunson Math & Science Specialty Elementary School 5.3 mi Public PRESCHOOL-8 0 0
      Chicago High School For The Arts 5.3 mi Public 9-12 4 4
      De La Salle Institute 5.4 mi Catholic 9-12 0 4
      Chicago Virtual Charter School 5.5 mi Public K-12 3 0
      Bronzeville Scholastic Academy High School 5.6 mi Public 9-12 0 3
      Wendell Phillips Academy High School 5.6 mi Public 9-12 0 4
      St Rita Of Cascia High School 5.6 mi Catholic 9-12 0 4
      Roberto Clemente Community Academy High School 5.7 mi Public 9-12 0 4
      Ace Technical Charter High School 5.7 mi Public 9-12 0 4
      Team Englewood Community Academy High School 5.8 mi Public 9-12 0 5
      North-grand High School 5.9 mi Public 9-12 0 3
      Wells Community Academy High School 5.9 mi Public 9-12 0 3
      Urban Prep Academy For Young Men - Bronzeville 5.9 mi Public 9-11 0 4
      Excel Academy - Englewood High School 5.9 mi Public 9-12 0 0
      Noble Street College Prep 6.1 mi Public 9-12 4 4
      Josephinum Academy 6.1 mi Catholic 9-12 0 0
      William Jones College Preparatory High School 6.1 mi Public 9-12 5 4
      The Chicago Academy For The Arts 6.2 mi Private 9-12 0 0
      Amandla Elementary Charter School 6.3 mi Public 5-12 0 3
      Holy Trinity High School 6.3 mi Catholic 9-12 0 4
      Pathways In Education- Ashburn 6.4 mi Public 9-12 0 0
      Walter Payton College Preparatory High School 7.1 mi Public 9-12 5 4
      Kenwood Academy High School 7.3 mi Public 7-12 4 4
      Walter Q Gresham Elementary School 7.4 mi Public PRESCHOOL-8 0 0
      Univ Of Chicago Lab School 7.5 mi Private PRESCHOOL-12 0 3
      Latin School Of Chicago Upper 7.7 mi Private PRESCHOOL-12 0 0
      Antonia Pantoja High School 7.7 mi Private 10-12 0 0
      Intrinsic Charter High School 7.8 mi Public 7-11 0 4
      Mt Carmel High School 7.9 mi Catholic 9-12 0 4
      Paul Revere Elementary School 7.9 mi Public PRESCHOOL-8 0 0
      Evergreen Park High School 8.0 mi Public 9-12 4 4
      Br Rice High School 8.0 mi Catholic 9-12 0 4
      Notre Dame High School For Girls 8.0 mi Catholic 9-12 0 0
      John H Vanderpoel Elementary Magnet School 8.0 mi Public K-8 2 0
      St Patrick High School 8.1 mi Catholic 9-12 0 3
      Francis W Parker School 8.1 mi Private PRESCHOOL-12 0 0
      Devry Advantage Academy High School 8.2 mi Public 11-12 5 4
      Shabazz International Charter School Shabazz Academy 8.4 mi Public K-8 0 0
      Chicago Academy High School 8.4 mi Public 9-12 3 4
      Gordon Tech High School 8.5 mi Catholic 9-12 0 4
      James E Mcdade Elementary Classical School 8.5 mi Public K-6 5 0
      Lane Technical High School 8.5 mi Public 7-12 5 4
      South Shore Intl College Prep High School 9.1 mi Public 9-10 0 3
      Luther North College Prep 9.3 mi Private 9-12 0 4
      Morgan Park Academy 9.7 mi Private PRESCHOOL-12 0 0
      Marist High School 9.9 mi Catholic 9-12 0 4
      Lycee Francais De Chicago 9.9 mi Private PRESCHOOL-12 0 0
      Jean Baptiste Beaubien Elementary School 10.2 mi Public PRESCHOOL-8 5 0
      Friedrich W Von Steuben Metropolitan Science Hs 10.2 mi Public 9-12 3 4
      Uplift Community High School 10.4 mi Public 9-12 0 4
      George H Corliss High School 10.5 mi Public 9-12 0 4
      Christian Fenger Academy High School 10.5 mi Public 9-12 0 3
      Northside College Preparatory High School 10.8 mi Public 9-12 5 4
      John W Garvy Elementary School 10.9 mi Public K-8 4 0
      Gwendolyn Brooks College Preparatory Academy Hs 10.9 mi Public 9-12 5 4
      Bais Yaakov High School 11.3 mi Private 9-12 0 0
      Clinton Elementary School 11.6 mi Public PRESCHOOL-8 3 0
      Nicholas Senn High School 11.7 mi Public 9-12 4 4
      Lubavitch Girls High School 11.8 mi Private 9-12 0 0
      Resurrection High School 12.1 mi Catholic 9-12 0 4
      Thomas A Edison Regional Gifted Center Elementary School 12.4 mi Public K-8 5 0
      Sullivan High School 12.5 mi Public 9-12 0 3
      Chicago Waldorf School 12.6 mi Private PRESCHOOL-12 0 0
      Proximity to listed schools and their school district(s) does not guarantee enrollment eligibility. Please contact a local real estate professional or the local school district(s) for the most current information relating to schools in the area. Sources: Onboard Informatics © 2016. School Performance data by SchoolDigger.com. School Review data by Niche.com.
      Local Weather for Chicago, IL
        Community information and market data Powered by Onboard Informatics. Copyright ©2016 Onboard Informatics. Information is deemed reliable but not guaranteed. * Based on a 30-year fixed rate of 4.75% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.