Median Home Sale Prices Increase Across Chicagoland
Despite Chicagoland home sales being down for the 10th straight month in May, the median price of homes sold in Chicago was up 3.3 percent to $315,000. This latest spike in home prices is the largest increase we’ve seen since last October.
As for the median price of home sales throughout the region, the nine-county metro area saw a similar gain with prices up 2 percent to $259,000. That jump was also the largest we’ve seen since last November when the median home price jumped by 3.1 percent.
Even with the latest gains, our median sale price increases were still below the national figure in May, which registered a 4.4 percent spike to $277,000. Nationally, the median sale price has increased for 87 consecutive months, according to the National Association of Realtors.