Midwest Market Report, Q2, 2021 (MO, IL, KS)
Market Activity
Chicago, IL
Market Overview
The Chicago real estate market is trending in favor of sellers, seeing a large surge in home sales in May 2021. This resulted in higher median prices across the board. The average home price saw a 21% increase from 2020. Chicago saw record high prices and sales this quarter.
🡱 10,563
Homes Sold
🡱 $314,000
Avg. Home Price
🡱 $2,000
Median Rent
Statewide Data
🡱 8.0%
Rental Vacancy Rate
🡳 1.1%
Homeowner Vacancy Rate
🡳 7.2%
State Unemployment Rate
Metro Area Unemployment
Chicago/Naperville/Elgin
8.5%
Champaign
5.6%
Peoria
6.4%
Decatur
8.1
Market Activity
St. Louis, MO
Market Overview
Missouri leads the Midwest in affordable housing, although home prices have significantly increased over the last few months as supply has dropped. The average sale price saw a 19.5% increase over 2020.
🡱 5,721
Homes Sold
🡱 $240,000
Avg. Home Price
🡱 $1,015
Median Rent
Statewide Data
🡱 10.4%
Rental Vacancy Rate
🡳 0.6%
Homeowner Vacancy Rate
🡳 4.2%
State Unemployment Rate
Metro Area Unemployment
St. Louis
5.3%
Springfield
4.0%
Columbia
3.6%
Jefferson
3.5%
Market Activity
Kansas City, KS
Market Overview
Kansas home sales rose by 2.2% since 2020. Home prices continue to increase statewide as mortgage interest rates fall.
🡱 3,357
Homes Sold
🡱 $258,100
Avg. Home Price
🡱 $1,092
Median Rent
Statewide Data
🡳 8.3%
Rental Vacancy Rate
🡳 0.5%
Homeowner Vacancy Rate
🡳 3.56%
State Unemployment Rate
Metro Area Unemployment
Kansas City
5.4%
Lawrence
4.5%
Topeka
3.9%
Manhattan
4.2%