If you're deciding whether to list on the North Side or downtown, the last 30 days of MRED data tell two very different stories.
North Side (Lincoln Park, Lakeview, Wicker Park/Bucktown):
- Median sale price: $579,500
- Inventory: 1 month of supply (529 active units)
- Average days on market: 33
- List-to-sale ratio: 101.9% of original list price
Downtown (Loop, Gold Coast, River North, Streeterville):
- Median sale price: $485,000
- Inventory: 2.7 months of supply (1,095 active units)
- Average days on market: 69
- List-to-sale ratio: 98.8% of original list price
Here's what those numbers actually mean if you own on the North Side. A month of supply means buyers don't have much to choose from, and it shows: homes are selling in 33 days on average, and above their original asking price. That 101.9% list-to-sale ratio isn't a rounding error. It means the typical North Side seller is closing above what they first asked for the property.
Downtown looks different. With 2.7 months of supply, buyers have more than double the inventory to shop against. Homes are taking twice as long to sell, and they're closing just under asking price. That's not a bad market. It's a market where pricing accuracy and presentation matter more, because buyers have options and time to compare.
Neither number tells you what your specific home or unit is worth. Building, floor, exposure, assessments, parking, and condition move the price more than which side of the river you're on. But if you're trying to gauge how much competition you'll be up against and how quickly you can expect to move, this is the current picture.
If you're weighing whether now is the right time to list, or want to know how these numbers apply to your specific block or building, send me a message. I'll pull the comps and walk you through what they mean for your property.
FAQs
What does "list-to-sale ratio" mean?
It's the final sale price divided by the original list price. A ratio over 100% means homes are selling above their original asking price on average. Under 100% means they're selling below it.
Does this data cover condos, single-family homes, or both?
Both. These numbers reflect all housing types sold in each area over the last 30 days, not condos specifically.
Why is downtown inventory so much higher than the North Side's?
The MRED data shows downtown carrying 2.7 months of supply against the North Side's 1 month, roughly double the active listings. I don't have the underlying reasons broken out in this data, so I won't guess at the cause. If you want, I can dig into building-specific or unit-type trends for a follow-up piece.
Does this mean I should list now?
That depends on your property, your timeline, and what's happening in your specific building or block, not just the broader area averages. I'm not going to tell you where the market is headed. I can tell you what's happening right now and help you figure out what it means for your situation.
My home isn't in Lincoln Park, Lakeview, Wicker Park, Bucktown, the Loop, Gold Coast, River North, or Streeterville. Does this data apply to me?
Not directly. This snapshot covers those specific areas. If you're elsewhere on the North Side or North Shore, reach out and I'll pull the numbers for your neighborhood.
