Chicago Apartment Sales Stall, North Side Activity Sinks
Declining Apartment Sales Across Chicago Despite the allure of urban living, Chicago's apartment sales faced a downturn. Data from June 2025 reveals a 5.4% decline in total home sales or pending transactions. This highlights weaker buyer competition, with 40% of homes sold below the asking price. Sales trends indicate a potential market shift. The average market time slightly quickened to 25 days. While condominium sales saw a modest 3.1% year-over-year uptick, inventory decreased by nearly 20%. This constrained overall sales volume. The scenario underscores a cooling market with reduced buyer enthusiasm. Stricter inventory conditions are apparent. Projected condominium sales growth showed only a slight rebound through midspring. Persistent challenges remain for Chicago's real estate market. Additionally, Chicago's rent growth is 30 basis points above the national rate, demonstrating steady rental demand despite the slowdown in sales. The city mirrors national trends as ri...