Chicago's 2022 March Market Update

2022 Market update ┃ Chicago Real Estate News

As we start to enter the busy spring season market, we decided to take a look at some of the most recent Chicago-based real estate and rental trends & statistics to help better understand the path ahead for the city. We analyzed local group studies, nationwide MLS stats, and some independent studies to get a better grasp on how inflation, fed rates, and other global/nationwide factors are affecting the housing market and what to expect moving forward. This includes examining how buyer demand is shifting across neighborhoods, how rental pricing is trending in key submarkets, and how changing economic conditions may impact inventory levels and investor confidence throughout the year. We’re also tracking how new construction, lending activity, and seasonal migration patterns are influencing market dynamics, helping buyers, sellers, and investors make more informed decisions in a rapidly evolving real estate landscape.

PRG Management is Chicago’s #1 Property Manager. To request a free proposal of Chicagoland management services, simply fill out the form below to be connected to our business development team.

Stay informed and read the full blog analyzing these stats at Pearson Realty Group.

InfoSparks 2022 Real Estate Market Report

INFOSPARKS 2022 REAL ESTATE MARKET REPORT

Every year, InfoSparks, in collaboration with Midwest Real Estate Data (MRED), generates and publishes an annual market report on some important to know stats from the previous year. Analyzing trends locally and nationwide, they are able to provide the Chicago real estate world with an understanding of past trends as well as realistic expectations on what's to come.

2022 REAL ESTATE MARKET REPORT: HIGHLIGHT STATS 

• The inventory of homes for sale remained low, as home seller activity did not rise proportionally to meet this demand.

• The number of homes available for sale in 2021 was lower than in 2020 by 33.6%.

• On average, sellers received 98.5% of their original list price at sale, a 2.5% year-over-year increase.

• Detached Single-Family home prices were up 14.7% compared to the previous year. Attached Single-Family home prices were up 11.6%.

These kinds of year-end reports are essential for understanding how market forces are shaping real estate activity at every level, from individual buyers and sellers to large-scale investors and developers. By tracking long-term shifts in pricing, inventory, and demand, industry professionals can better anticipate market cycles, identify growth opportunities, and adjust strategies accordingly. For homeowners, this data provides insight into property value trends, while investors can use it to pinpoint neighborhoods and property types with the strongest performance potential.

Read the big takeaways on this new data and more at the Pearson Realty Group blog!

PRG Management is Chicago’s #1 Property Manager. To request a free proposal of Chicagoland management services, simply fill out the form below to be connected to our business development team.