*The City of Chicago Market Snapshot represents the residential real estate activity within the 77 officially defined Chicago community areas as provided by the Chicago Association of REALTORS®.
- 1,322 properties were sold in the City of Chicago in February 2025. This is a 1.9% decrease from February 2024.
- The median sales price in the City of Chicago for February 2025 was $359,750, which is a 9.0% increase from February 2024.
- The City of Chicago saw listings average 78 days on the market until contract, which is a 10.3% decrease from February 2024.
- Check out the February 2025 FastStats.
STATE OF THE MARKET
- U.S. existing-home sales fell for the first time since September, slipping 4.9% month-over-month to a seasonally adjusted annual rate of 4.08 million units, according to the National Association of REALTORS® (NAR), as elevated home prices and higher interest rates continue to impact buyer activity. Despite the drop, sales were up 2% compared to the same period last year, marking the fourth consecutive monthly year-over-year increase.
- The limited number of properties for sale has continued to push home prices higher nationwide. At last measure, the national median existing-home price was $396,900, a 4.8% increase from one year earlier, with prices up in all four regions, according to NAR. Meanwhile, total housing inventory heading into February stood at 1.18 million units, up 3.5% month-over-month and 16.8% year-over-year, for a 3.5-month supply at the current sales pace.
INVENTORY
- The City of Chicago’s inventory is down 15.6%, from 4,909 homes in February 2024 to 4,144 homes in February 2025.
- The month’s supply of inventory decreased 15.4%, from 2.6 in February 2024 to 2.2 in February 2025.
2-4 Unit Data
- 172 properties were sold in February 2025. This is a 21.5% decrease from February 2024.
- The median sales price in February 2025 was $422,950, a 16.2% increase from February 2024.
- There were 432 new units on the market in February 2025, which is an 18.8% decrease from February 2024.
If you’re interested in exploring all the 2-4 unit data, check out our monthly spreadsheets in the Chicago-MU tab.
