The inventory of listed Chicago apartments for sale continues to drop.* There were 10,261 apartments for sale in Chicago in the fourth quarter down 31.7% from fourth quarter 2011 when there were 15,021 apartments for sale. The inventory of Chicago apartments for sale is down over 53% from fourth quarter 2009.
The median sale price rose 16% to $215,000. The number of closed sales was up 38%. The average days on market for pending sales was down 23%. Pending sales were up 33%.
WHAT THIS MEANS FOR CHICAGO APARTMENT BUYERS
The buyers market is over. If you will be financing your purchase, get your mortgage pre-approval before you start touring apartments. If you’re paying cash, get a proof of funds letter ready to go.
WHAT THIS MEANS FOR CHICAGO APARTMENT SELLERS
Don’t expect that you’ll get more for your apartment now. It’s not a sellers market yet. As always, if your apartment is priced right when it goes on market, it will sell in a reasonable amount of time.
CHICAGO APARTMENTS FOR SALE
Click below to see the Chicago apartments for sale in your desired price range.
| $3M & Above | $2M to $3M | $1.5M to $2M | $1M to $1.5M |
| $900K to $1M | $800K to $900K | $700K to $800K | $600K to $700K |
| $500K to $600K | $400K to $500K | $300K to $400K | $200K to $300K |
QUESTIONS?
Call Fran at 773-793-4516, text or email
*Statistics include condos, co-ops & other forms of ownership. Information is based on data from Midwest Real Estate Data (MRED).
Fran Bailey specializes in downtown Chicago, Lincoln Park and Lake View condos, co-op apartments and houses. She has shared home buying and selling advice since 2006 and written about over 130 Chicago high rises. To schedule showings for any listings, get a 
