Famously referred to as the Windy City, Chicago, Illinois offers something for everyone. Chicago draws visitors from all over the world and ranks as the second most visited city in the United States. Popular tourist attractions include Millennium Park, Wrigley Field, the Sears Tower, and Navy Pier. Chicago also has a rich arts culture and is home to the CIBC Theater and the notorious improvisation comedy club, The Second City.
Aside from being a renowned tourist destination, Chicago is also the third most populated city in the United States. Residents of the greater Chicago area appreciate the diverse culture the city offers. The city is home to several corporate headquarters, multiple professional sports teams, and three prestigious universities, as well as countless restaurants, parks, and theaters.
The COVID-19 pandemic has played and impactful role in the Chicago housing market. Many families have moved out of city limits into the suburbs, and the demand for detached single family homes has significantly increased. This has led to a decreasing supply of available houses and an increase in the median sale price. The median price of a single family home in Chicago has risen 14.1% over the last year, while the median price of a condo is only up 2.4% from last year. There are currently 13,381 homes for sale on the Chicago market, up from 11,178 from September 2019. The average days a home stays on the market is 71 days, compared to an average of 66 days in September of last year.