By: Sarah Freishtat

Source: Chicago Tribune

New data shows that the Chicago-area housing market has continued to boom through the spring and summer.

In the nine-county Chicago metro area, the median home sale price from January to June rose to $300,000, up about 16.3% over the first six months of 2020, according to Illinois Association of Realtors data made public this month.

About one-third fewer homes were listed for sale between March and June, and they were on the market for 38% less time, the data shows.

Gregory Hewings helped compile for the Illinois Association of Realtors projected prices and sales in the Chicago area and saw these prices and sales will remain far above 2020 numbers in the coming months, and he said he didn’t expect the supply of homes for sale to increase.

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