Luxury Connect
Meet the Luxury Leaders | October 19-20 | Beverly Hills

Chicagoans are dealing with the severe lack of inventory that is the lowest its been in the past decade. This December home prices were up 8.4 percent on an annual basis, but despite the mild winter home sales fell 2.8 percent, according to Redfin.

Chicago home prices began to fall back in February 2015, and although prices went through a couple of boosts, they have generally remained flat.

ChiDecHomePricesChart

The lack of available homes pushed prices up for Chicagoland homeowners, with nine-straight months of declining numbers of homes on the market.

Chicago homes sold redfin

Chicago neighborhoods are all performing on different planes, and while some areas like Pullman are gaining speed, others are losing some traction. The popular family-friendly Lincoln Square saw a 29.8 percent dip in homes sold, however that could be impacted by the mere 33 homes for sale.

West Loop is still a reigning champion with more home sales and increasing prices, while only by a sliver. On the west side, Ukrainian Village saw a whopping 25.4 percent home value increase with dwindling inventory.

AreaMedian Sale PriceYear-Over-YearHomes SoldYear-Over-YearInventoryYear-Over-YearNew Listings
Albany Park$253,50025.5%10220.0%160-10.1%99
Andersonville$391,000-1.0%4213.5%64-8.6%45
Archer Heights$178,90012.9%280.0%3534.6%30
Austin$85,0009.7%117-5.6%255-9.6%190
Avondale$295,000-7.7%87-12.1%130-11.0%102
Beverly$250,662-7.2%5218.2%12013.2%79
Bridgeport$345,00030.7%57-13.6%101-3.8%66
Brighton Park$143,50013.9%6124.5%7921.5%57
Bucktown$569,50015.8%765.6%72-20.9%76
Clearing$182,50015.5%66-7.0%12715.5%88
Edgewater$227,50016.7%15812.1%294-3.6%188
Edison Park$259,000-13.5%365.9%59-10.6%34
Englewood$20,0005.3%3914.7%181-17.4%91
Garfield Ridge$190,0000.5%89-8.2%143-6.5%110
Gold Coast$287,000-1.9%1384.5%284-6.0%171
Humboldt Park$221,50018.2%1546.9%258-1.1%195
Hyde Park$145,000-15.9%6456.1%143-34.1%61
Irving Park$294,7504.2%112-6.7%25411.9%194
Jefferson Park$262,0006.5%78-1.3%107-5.3%83
Kenwood$151,0001.6%39-7.1%120-13.7%61
Lincoln Park$537,00010.7%288-9.4%477-6.7%366
Lincoln Square$359,0006.1%33-29.8%11925.3%66
Logan Square$365,00028.6%15610.6%177-8.8%179
McKinley Park$166,450-0.3%2636.8%44-6.4%30
Montclare$225,20021.3%37-5.1%44-34.3%34
Mount Greenwood$193,000-7.7%44-13.7%760.0%55
Near North Side$403,5313.1%5687.8%1,083-0.8%661
North Center$475,000-15.8%7142.0%941.1%81
Old Town$317,500-5.9%892.3%112-5.1%96
Portage Park$252,5002.4%149-8.0%25514.3%177
Pullman$87,000117.5%190.0%29-31.0%22
Ravenswood$337,500-26.1%6436.2%737.4%53
Rogers Park$164,7007.5%1081.9%23711.3%143
Roscoe Village$535,000-0.9%67-17.3%12036.4%111
Sauganash$405,00026.0%3233.3%7358.7%50
South Lawndale / Little Village$99,00023.8%4017.6%81-5.8%56
South Loop$349,000-0.3%2350.4%3554.1%267
South Shore$60,97734.0%85-18.3%258-17.6%122
Streeterville$490,00016.0%131-13.2%320-10.1%159
The Loop$345,000-5.5%1859.5%324-0.9%211
Tri-Taylor$248,00070.1%1536.4%28-24.3%15
Ukrainian Village$542,50025.4%20-23.1%34-19.0%26
Uptown$233,50015.9%142-6.6%270-23.5%172
West Loop$365,0001.1%13712.3%111-17.2%117
West Town$457,7505.2%341-0.9%425-12.6%412
Wicker Park$480,3000.7%105-6.3%122-17.6%118
Chicago$237,2508.4%2,350-2.8%10,645-6.9%2,163