June Market update

Lincoln Park/ Old Town (60614):

Condos: We saw some inventory growth last month, but it didn’t stick. Sellers market across the board.
SFH: Seller’s market in the bottom quartiles up to around 3M. No change really from last month here. Seeing more inventory in the upper/middle quartile between 3M and 4.25M. This market now favors the buyer. Upper quartile above 4M is a strong buyer’s market.

Lakeview (60657)

Condos: Still a hardcore seller’s market (what else is new), but we are seeing good inventory growth across the board. We saw a decent jump in inventory from April to May, but we are not flat from May to June.

SFH: Firms seller’s market in the lower quartiles under 2.2M. Upper quartiles favor the buyer slightly. April had a record amount of inventory for these quartiles at 7.1 months, but this is now below 6 months. Overall, inventory is trending upwards for the upper quartiles.

West Loop (60607)

Condos: Not much has changed here. Sellers market below 1.2M. Strong buyer’s market above 1.2M.
SFH: Not enough data

West Town/Wicker/East Humboldt (60622)

Condos: Still a seller’s market, but we are seeing inventory growth here, which is offering some WELL NEEDED relief to buyers here. This market has been so insanely unhealthy, so it is nice to see % of properties with price decreases break out MOM.
SFH: Seller’s market. Seeing price cuts and market time begin to tick up.

Logan/Buck (60647)

Condo: Seller’s market across the board STILL. Inventory flat MOM. Prices are not necessarily going up here, but they are sticking. Should start to see some seasonal relief soon.
SFH: We saw a big jump in inventory from April to May. Inventory is about flat MOM but trending upwards. Still a seller’s market but cooling down some.

South Loop (60605)

Condos: Seller’s market below 700k. Fairly balanced between 450k-700k. 700k and up is a slight buyer’s market.
SFH: Not enough data

Loop/LakeShore East

Condos: Lower quartile 450k and under is a slight seller’s market. Everything else is a slight edge to the buyer. Market is not fully back yet, but I think we have seen the bottom for this market.
SFH: Not enough data.

River North

Condos: Slight seller’s market sub 550k in the lower quartiles. 550k-1M is a buyer’s market. The higher the price point, the more favorable the market for buyers. Severe buyer’s market 1M and higher.
SFH: Not enough data

Streeterville

Condos: Lower quartile under 400k favor’s the seller slightly but overall balanced. Buyer’s market in all upper quartiles above 400k. Absolute upper quartile 1.75M and up is the most severe buyer’s market in all of Chicago with 23 months of inventory.
SFH: Not enough data

Gold Coast

Condos: Lower quartiles 550k and under favors the seller. The upper/middle quartile up to 1.2M has shifted to a more balanced market. The upper quartile above 1.2M is still a buyer’s market with about 10 months of inventory.
SFH: Very weak demand here. Overall supply is sitting at about 15 months for all price points. Price drops are ticking up for properties under 3M. Sellers are sticking firm in the upper quartile, but they are not selling.

Beverly/Morgan Park