{"id":13626,"date":"2021-06-04T09:00:00","date_gmt":"2021-06-04T16:00:00","guid":{"rendered":"https:\/\/www.roomvu.com\/academy\/?p=13626"},"modified":"2021-06-04T02:40:42","modified_gmt":"2021-06-04T09:40:42","slug":"chicago-real-estate-market-update","status":"publish","type":"post","link":"https:\/\/www.roomvu.com\/academy\/chicago-real-estate-market-update\/","title":{"rendered":"Chicago Real Estate Market Update"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large is-resized\"><a href=\"https:\/\/www.roomvu.com\" target=\"_blank\" rel=\"roomvu.com noopener\"><img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-1024x178.jpg\" alt=\"\" class=\"wp-image-12734\" width=\"834\" height=\"145\" srcset=\"https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-1024x178.jpg 1024w, https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-300x52.jpg 300w, https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-768x133.jpg 768w, https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-1536x266.jpg 1536w, https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-scaled.jpg 2048w, https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-1250x217.jpg 1250w, https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-400x69.jpg 400w\" sizes=\"(max-width: 834px) 100vw, 834px\" \/><\/a><\/figure>\n\n\n\n<iframe width=\"640\" height=\"480\" src=\"https:\/\/www.roomvu.com\/agent\/embed\/real-estate-trends\/chicago-update\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-market-update-chicago\">Market Update &#8211; Chicago<\/h2>\n\n\n\n<p class=\"has-drop-cap\">The market in April was hot! the steep year-over-year increase in closed sales and median price shows the hesitancy of buyers and sellers at the beginning of the pandemic last April compared to the comfort they are feeling in the market now. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-speed-of-the-market\">Speed of the Market<\/h3>\n\n\n\n<p>Speed of the market: 43.2% &#8211; Based on Sales-to-Active Listing Ratio.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-home-sales\">Home Sales<\/h3>\n\n\n\n<p>There were 3,323 sales in April: <\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>61.5% <span style=\"color:#00d084\" class=\"tadv-color\"><strong>increase <\/strong><\/span>compared to April 2020. Total sales also increased by 14.4% compared tp last month.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-listings\">Listings <\/h3>\n\n\n\n<p>There were 5,936 new listings in April:<\/p>\n\n\n\n<p>Both the listings and sales activity have increased, resulting in an upward trend in prices. <\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>109.9 % <span style=\"color:#00d084\" class=\"tadv-color\"><strong>increase <\/strong><\/span>compared to April 2020. <\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-median-sold-price\">Median Sold Price<\/h3>\n\n\n\n<p>Median sold price equaled to <span style=\"color:#cf2e2e\" class=\"tadv-color\">$372,500<\/span> in April<\/p>\n\n\n\n<p>Median price also <span style=\"color:#cf2e2e\" class=\"tadv-color\">surpassed <\/span>last months level by 8%<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>10.2 % <strong><span style=\"color:#cf2e2e\" class=\"tadv-color\">increase <\/span><\/strong>compared to April 2020. <\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.roomvu.com\" target=\"_blank\" rel=\"roomvu.com noopener\"><img decoding=\"async\" width=\"1024\" height=\"178\" src=\"https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-1024x178.jpg\" alt=\"\" class=\"wp-image-12734\" srcset=\"https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-1024x178.jpg 1024w, https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-300x52.jpg 300w, https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-768x133.jpg 768w, https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-1536x266.jpg 1536w, https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-scaled.jpg 2048w, https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-1250x217.jpg 1250w, https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-400x69.jpg 400w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-detached-home-highlights\">Detached Home Highlights<\/h3>\n\n\n\n<p><strong>944 detached homes were sold in April:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>A 29.9 % <strong><span style=\"color:#00d084\" class=\"tadv-color\">increase<\/span><\/strong> compared to April 2020.<\/li><\/ul>\n\n\n\n<p><strong>Median Price was $345,000:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>A 19.8% <span style=\"color:#cf2e2e\" class=\"tadv-color\"><strong>increase <\/strong><\/span>compared to last year. <\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-attached-homes-highlights\">Attached Homes Highlights<\/h3>\n\n\n\n<p><strong>2,379 Attached Homes were sold in April:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>A 78.9% <span style=\"color:#00d084\" class=\"tadv-color\"><strong>increase<\/strong> <\/span>compared to April 2020.<\/li><\/ul>\n\n\n\n<p><strong>Average Price was $380,000:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>A 4.1% <span style=\"color:#cf2e2e\" class=\"tadv-color\"><strong>increase <\/strong><\/span>compared to last year. <\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Market Update &#8211; Chicago The market in April was hot! the steep year-over-year increase in closed sales and median price shows the hesitancy of buyers and sellers at the beginning of the pandemic last April compared to the comfort they are feeling in the market now. Speed of the Market Speed of the market: 43.2% &hellip;<\/p>\n","protected":false},"author":1,"featured_media":13627,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[917],"tags":[],"class_list":["post-13626","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-trends"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.7 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Chicago Real Estate Market Update - roomvu Academy<\/title>\n<meta name=\"description\" content=\"Read the latest real estate market update for Chicago with all the stats and details together with a visually friendly video.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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