Chicago has cemented its position as one of the most valuable real estate markets in the United States, recently surpassing the $1 trillion mark in real estate asset value. This places Chicago alongside major markets such as New York, Los Angeles and Atlanta, creating a flourishing environment for real estate professionals and homebuyers alike.
Recent data from Altos Research indicates that as of Sept. 3, Chicago had 1,818 active listings for houses and 2,874 active listings for condos. Despite this current inventory, Illinois as a whole has experienced a significant decline in available homes compared to pre-pandemic levels. This substantial reduction in inventory has intensified competition among Chicago’s more than 15,000 licensed real estate agents, making it increasingly challenging to secure listings and clients.
It should come as no surprise that the top real estate agents continue to command a significant portion of the market. According to RealTrends Verified analysis, an agent must achieve over $25,331,000 in annual sales to rank among the top 25 in Chicago, while breaking into the top 50 requires at least $16,367,014 in annual sales.
The RealTrends Verified City Rankings highlight the highest-performing agents in Chicago and other key U.S. markets. Leading professionals such as Steven Koleno of Exit Strategy Realty, and Carrie McCormick of @properties Christie’s International Real Estate are at the forefront of the Chicago market.
Koleno currently leads the Chicago rankings with 1,784 transaction sides equating to near $683 million in 2023 volume, establishing him as one of the top agents in Illinois and placing him among the top three agents nationally by transaction sides.
View Chicago’s RealTrends Verified City Rankings here.
The current Chicago RealTrends Verified City Ranking is open for nominations and data submissions until Sept. 13, 2024, with the final rankings set to be released in Q4.
RealTrends Verified is accessible through RealTrends.com and HousingWire.com, attracting significant search traffic from homebuyers and sellers seeking top agents, teams and brokerages at the city, state and national levels. These national and city rankings help in the selection and hiring of agents for buyers and sellers, as well as to showcase performance and market expertise for business partnerships and referrals.
Zip code spotlight – 60043 (North Shore Chicago suburbs)
While the median listing price in Chicago is $339,900, according to Altos Research, one ZIP code stands out: 60043, which includes the affluent Kenilworth area. This prestigious ZIP code sports a median list price of $3,135,000 and a median price per square foot of over $482.
Top-performing agents like Jena Radnay of @properties Christie’s International Real Estate outshine the competition in 60043 and other high-end areas.
Chicago’s real estate market continues to evolve, presenting both challenges and opportunities for industry professionals and homebuyers. As the market adapts to shifting economic conditions and customer preferences, staying in front of and in good standing with homebuyers and sellers has never been more important.
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