The average list price of Chicago homes for sale is currently strongest at the high end (homes priced above $394,000) and weakest at the low end. The low end homes are most affected by foreclosures and average list prices have dropped 4.1% over the last year.
Over the same period however the median closed sales price for low end homes has actually risen. Again this is likely due to forecloses being so aggressively priced that they attract multiple bidders and drive up the end sales price.
Median sales prices for high end homes in Chicago has actually risen by 1.7% over the last 12 months.
The monthly supply of inventory is way down (>17%) for the higher end homes but still stands at 12 months which represents a seller's market.