Data current as of March 20, 2023
The slower pace of home sales has helped housing supply increase at a record pace nationwide, with inventory climbing 67.8% year-over-year in February, according to Realtor.com’s latest Monthly Housing Market Trends report. Inventory was up in 49 out of 50 of the largest US metros, driven largely by increased time on market and a decrease in buyer demand due to elevated borrowing costs. February marks the 6th consecutive month the supply of homes increased, although inventory remains down compared to pre-pandemic levels.
SINGLE-FAMILY DETACHED
For the week ending March 11:
New Listings decreased 27.9% to 290
Under Contract Sales decreased 16.8% to 232
Inventory increased 6.8% to 2,189
For the month of February:
Median Sales Price increased 2.3% to $292,500
Market Time increased 47.5% to 90
Percent of Original List Price Received decreased 2.8% to 95.0%
Months Supply increased 40.0% to 2.8
SINGLE-FAMILY ATTACHED
For the week ending March 11:
New Listings decreased 35.9% to 492
Under Contract Sales decreased 33.3% to 369
Inventory decreased 29.4% to 3,051
For the month of February:
Median Sales Price decreased 7.2% to $320,000
Market Time decreased 13.5% to 96
Percent of Original List Price Received decreased 0.7% to 96.6%
Months Supply decreased 8.3% to 2.2
Current as of March 20, 2023. All data from Midwest Real Estate Data reflecting activity within the 77 officially defined Chicago community areas. Report © 2023 ShowingTime.