Rogers Park: A Dynamic Chicago Neighborhood with a Thriving Real Estate Market

Rogers Park, one of Chicago's 77 official community areas, is experiencing significant growth in its real estate market. Located on the city's far north side, this vibrant neighborhood offers a diverse mix of housing options and continues to attract buyers and investors.

Housing Market Trends

As of December 2024, Rogers Park's real estate market shows strong performance:

• Median sales price for attached single-family homes: $667,500, up 15.0% from the previous year
• Median sales price for detached single-family homes: $222,500, down 9.2% from the previous year
• Average market time for attached homes: 39 days, down 27.3% from last year
• Average market time for detached homes: 27 days, down 43.4% from last year

The market is competitive, with attached homes receiving 99.1% of their original list price, a 1.1% increase from the previous year.

Neighborhood Highlights

1. Strong Sales Growth:
   • Closed sales for detached single-family homes increased by 65.2% in December 2024 compared to the previous year
   • Year-to-date closed sales for attached homes remained stable at 412 units
2. Increasing Inventory:
   • Inventory of detached single-family homes for sale increased by 29.7% compared to December 2023
   • Attached single-family home inventory saw a 200.0% increase in December 2024
3. Price Trends:
   • Attached single-family homes showed significant appreciation, with a 15.0% increase in median sales price year-to-date
   • Detached single-family homes experienced a slight decrease in median sales price for December, but showed a 12.9% increase year-to-date

How I Can Help Sellers, Buyers, and Investors

For Sellers:

• Provide comprehensive market analysis to price your property competitively
• Implement targeted marketing strategies to showcase your home's unique features
• Offer guidance on timing the market, considering the strong performance of attached homes
• Navigate the complexities of the selling process, from offer negotiations to closing

For Buyers:

• Guide you through Rogers Park's diverse housing options, from attached to detached single-family homes
• Provide insights into the neighborhood's market trends and potential for appreciation
• Assist in finding properties that match your criteria and budget
• Offer expert negotiation skills to secure the best deal in this competitive market

For Investors:

• Identify properties with strong potential for appreciation, considering the significant price growth in attached homes
• Provide data-driven insights on market trends, including the increasing inventory and faster market times
• Assist in analyzing potential returns on investment for various property types in Rogers Park
• Connect you with local property management services for hassle-free rental property ownership

Market Outlook

Rogers Park's real estate market demonstrates strong growth potential, particularly in the attached housing sector. The significant increase in median sales prices for attached homes, coupled with faster market times and high percentages of list prices received, indicates a robust demand for this property type.

While detached single-family homes saw a slight decrease in December's median sales price, the year-to-date figures show overall appreciation. The substantial increase in closed sales and inventory for detached homes suggests growing interest in this segment of the market.

As Chicago's real estate landscape continues to evolve, Rogers Park's combination of price appreciation, increased sales activity, and growing inventory positions it as a neighborhood to watch for both buyers and investors in the coming year