While overall Chicago’s real estate market was relatively weak last year, it wasn’t entirely the same situation across all parts of the city and its suburbs. In fact, in many of Chicago neighborhoods and out in the suburbs of Will, Lake, DuPage and Cook counties, the median home price actually grew in 2019.
Healthy home price growth of around six percent was reported in such locations as North Park, Garfield Ridge and Hermosa. It also happened in Villa Park in the suburbs and in Western Springs.
Still, in other sections of the Chicago area prices cooled by a similar amount. This included median home prices in Edison Park, Lakeview and Logan Square. Home prices also cooled last year in suburban Oak Park and in Arlington Heights.
City-wide, the median price of a home sold last year was up about 1.7-percent over 2018.