These are places where the prices and the number of sales rose, and the average time that properties spent on the market fell, three signs that together indicate a vibrant housing market. In Pilsen and Hyde Park, that was true of the condo and townhouse market. In Chatham, it was single-family houses.
Two of the three indicators did not improve for the city overall. Home sales in the city were down 4.9 percent in 2019 from the year before, and the average time a home spent on the market before selling grew by 5.7 percent, according to the Chicago Association of Realtors. One attribute improved: The median price of homes that sold in the city was up 1.7 percent for the year.
On the detached housing side (single-family homes), the neighborhoods where all three indicators improved in 2019 over 2018 are:
Crain’s analyzed year-end data posted by the Chicago Association of Realtors and Midwest Real Estate Data to find the places where three key measures of a housing market’s vigor all improved: more homes sold, at a higher median price, and in less time on the market on average, in 2019 over 2018.
Only neighborhoods where 25 or more homes sold during the year are included in the analysis. Woodlawn is not included because the CAR report does not provide data on the neighborhood.