Discover Five Homes Near Chicago’s $360K Median Price

The winter real estate market in Chicago is poised for significant activity, with expectations of heightened buyer interest. Alejandro Trujillo, a representative from RE/MAX Premier, noted that many sellers are recognizing they can achieve comparable pricing in the winter as they would in the spring months. The median sale price for homes in Chicago stands at $360,000, reflecting a slight year-over-year decrease of 0.06%, according to a report released by the Chicago Association of Realtors.

In November 2024, the median sale price was $362,250. The city has experienced a tightening inventory, with only 3,762 homes available for sale last month, a decrease of 23.9% compared to the same period last year. Although closed sales dropped by 11% from November 2024, homes are selling faster, with an average market time of 57 days, down from 66 days last year.

Trujillo attributes the influx of prospective buyers to the realization that mortgage rates are unlikely to decrease significantly. He advises potential buyers to remain flexible regarding their desired locations, suggesting areas like River North, the Loop, and South Loop for better inventory options. Current hotspots include Lincoln Park, Lake View, and Old Town. He encourages buyers to consider properties that may require renovations, stating, “Maybe that fixer-upper is a good thing right now.”

To illustrate what buyers might find near the city’s median sale price, here are five notable listings based on data from Redfin.

Highlighted Listings Near Chicago’s Median Price

1. **2800 N. Pine Grove Ave. Unit 8A, Lake View**
– **Price:** $360,000
– **HOA:** $491/month
– **Size:** 705 square feet, 2 bedrooms/1 bath
– **Built:** 1893
– **Agents:** Nicholas Haubrich and Laura Meier of @properties Christie’s International Real Estate
This top-floor unit in the historic Brewster Building features 10-foot ceilings and a kitchen equipped with quartz countertops and Bosch appliances. The bathroom showcases floor-to-ceiling subway tiles and modern fixtures. Recent upgrades include new plumbing, electrical, and wide-plank oak flooring. The building offers amenities such as laundry facilities, a bike room, and on-site management.

2. **2801 N. Oakley Ave., #202, Bucktown**
– **Price:** $359,000
– **HOA:** $295/month
– **Size:** 1,000 square feet, 1 bedroom/1 bath
– **Built:** 2008
– **Agent:** Maria McKinsey of Jameson Sotheby’s International Realty
This open-concept condo features a living room with a fireplace and a kitchen with stainless steel appliances. The spacious bedroom includes a walk-in closet. The building provides garage parking and access to a dock for launching watercraft.

3. **400 S. Green St., #406, West Loop**
– **Price:** $359,900
– **HOA:** $432/month
– **Size:** 1,138 square feet, 1 bedroom/1 bath
– **Built:** 1910, converted to condos in 1986
– **Agent:** Ryan Templeton of Keller Williams ONEChicago
This timber loft features original wood beams and exposed brick walls, creating a distinct character. The updated kitchen includes custom cabinetry and a waterfall countertop. The building, formerly a warehouse, offers exterior parking options.

4. **6318 S. Greenwood Ave., #1, Woodlawn**
– **Price:** $364,900
– **HOA:** $386/month
– **Size:** 2,056 square feet, 4 bedrooms/3 baths
– **Built:** 1903
– **Agent:** Verg Eiland of @properties Christie’s International Real Estate
This remodeled duplex condo includes hardwood floors and a modern kitchen with quartz countertops. The primary bedroom has an en suite bath with luxurious finishes. The unit features in-unit laundry and designated parking.

5. **635 N. Dearborn St., #1403, River North**
– **Price:** $365,000
– **HOA:** $795/month
– **Size:** 925 square feet, 2 bedrooms/2 baths
– **Built:** 2003
– **Agents:** Ekaterina Andrews and Heather Hillebrand of Baird & Warner
This condo boasts floor-to-ceiling windows and in-unit laundry. The primary bedroom features an en suite bathroom with a double vanity. Residents benefit from 24-hour door staff and an updated fitness center.

As the winter market unfolds, it appears that Chicago’s real estate landscape is adapting to new buyer habits and preferences. With competitive pricing and a variety of available homes, potential buyers may find opportunities that align with their needs and expectations.