The strong growth seen in the Chicagoland housing market in 2020 continued in January, according to statistics released today by the Mainstreet Organization of Realtors (MORe).
Detached single-family home sales rose 18.9% in January 2021 compared to January 2020, and median sale price rose by $45,100, from $249,900 to $295,000.
Attached homes also saw gains, with 25.3% growth in the number of homes sold in January and an $11,250 gain in the median sale price, from $165,000 last January to $176,250 in January 2021.
“There is so much appetite to buy homes in our area right now that inventory can barely keep up,” MORe CEO John Gormley said. “This is a fantastic market, but it indicates that buyers have to prepare to be quite aggressive when they put down offers.”
Picture Source: Mainstreet Organization of Realtors