Northwest Chicago Housing Market Update

Map of Northwest Chicago

Low inventories and higher sales prices had an effect on the Northwest Chicago residential real estate market last year.  Overall, the number of closed sales for 2017 was down, median sales prices were up, and the average market time decreased.  Homes sold faster and for more money.

Local market conditions were far from perfect. New listings struggled to keep up with what was sold very quickly, and buying became less affordable. These two factors ultimately muted what should have been a stronger sales pace.