Chicago real estate update

In May, home prices rose moderately from the month before, with a median listing price of $370,000.

The number of listings on the market grew 5.4%, which is a bigger increase than normal for this time of the year in Chicago, and homes are also selling close to the same pace as the same time last year.

Time on market

Homes in Chicago take an average of 33 days to sell, according to May figures.

This is two days less than the previous month and one day less than the same month last year.

For comparison, nationally homes spent an average of 51 days on the market in May.