"Active inventory in Chicago fell nearly 17% year over year, with only 3,118 homes available, while national inventory grew by 6.2%. This tight market has led to less room for negotiation."
"The median list price in Chicago was $354,500 in March, nearly unchanged from the previous year, while nationally, the median price fell by 2.1%. Only 7.3% of listings had price cuts."
"Homes in Chicago sold in just 35 days last month, which is 22 days faster than the national median of 57 days. This indicates a strong demand and quick sales in the market."
Chicago's real estate market is currently in favor of sellers due to a significant drop in active inventory, which fell nearly 17% year over year. The median list price remained stable at $354,500, contrasting with a national decline. Homes sold much faster in Chicago, averaging just 35 days on the market compared to the national median of 57 days. With fewer homes available and steady demand, buyers face increased competition and limited negotiation power.
Read at SFGATE
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