Downtown Chicago Housing Market Update | July 2025 Real Estate Trends & Prices

Описание: Wondering what’s happening in downtown Chicago's real estate market?

In this July 2025 market update, Anne Rossley shares what’s been happening in the downtown Chicago real estate market for the first half of the year, focusing on lakefront communities from the South Loop to Rogers Park and nearby neighborhoods.

Single-family homes continue to perform strongly, with 120 closings and 90 under contract in June. Inventory remains low, with only 177 homes on the market and a median sales price hitting a record high of $1,475,000. Homes under $4 million are moving quickly, with just 3.3 months or less of inventory, while the ultra-luxury market ($4M+) sits at 10.7 months of supply. Year-to-date, sales volume is up 26% compared to last year.

For attached properties like condos, co-ops, and townhomes, 1,157 homes closed in June, with 976 under contract and just over 1,800 available—again, very low for this time of year. The median sales price reached a new high of $460,000. Inventory for homes under $1M is tight, at under two months, while high-end condos over $2M have 7.6 months of supply. Year-to-date sales are up 9.5% over last year, which was already up 9% over 2023.

Mortgage rates recently dipped to 6.67%, and the average rent in the Chicago metro area is $2,100 per month or $2.81 per square foot. Two-bedrooms average $2,475, which is 11% cheaper than last year. The most expensive neighborhood to rent in is the Near North Side, averaging $2,984 per month.

Questions about buying, selling, or investing in downtown Chicago real estate? Reach out anytime — I'm Anne Rossley with Baird & Warner, let's connect!

For Everything Chicago, Ask Anne...
📩 [email protected]
📞 773-620-5333
🌐 annerossley.com

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00:00 – Introduction: 2025 Market Overview (Downtown Chicago)

00:15 – Single Family Homes
➡️ Inventory Status & Median Sales Price ($1.475M)
➡️ Ultra-Luxury vs Under $4M Market Breakdown
➡️ Year-to-Date Volume: Up 26% from Last Year

01:29 – Attached Properties: Condos, Co-ops, Townhomes
➡️ Inventory & Sales by Price Point
➡️ Median Sales Price for Attached Homes Hits $460K
➡️ Year-to-Date Sales Up 9.5%

02:31 – Mortgage Rates Dip to 6.67%

02:37 – Average Rent Across Chicago Metro
02:55 – Rental Pricing by Unit Type & Neighborhood

03:08 – Wrap-Up & How to Connect with Anne Rossley

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With 25+ years of real estate experience selling in downtown Chicago, Anne Rossley is the go-to advisor for corporate executives moving in and out of the city, empty-nesters transitioning to the city and anyone just trying to find their perfect fit in Chicago. Selling each of Chicago’s vast housing options, Anne understands the nuances of historic properties, luxury single-family homes, and lakefront condos/co-ops. She is an industry gem with her sharp sense of humor and low-pressure approach that is always coupled with a splash of sophistication and a little spunk. NOTE: Anne focuses on city business and will happily refer you to the best resource in collar counties/suburbs if this isn't a perfect fit. Make Anne your first call!

Anne (and Baird & Warner) is a member of Leading Real Estate Companies of the World and Luxury Portfolio.