Selling a Home In Chicago: Real Estate Trends

When it comes to selling a home in Chicago, you must pay careful attention to real estate trends. That’s because what’s happening in the real estate market can affect how you approach putting your house on the market. When you are a seller, you really need the guidance of an experienced real estate agent who can help you interpret the latest real estate trends so that you sell your home as fast as possible for the best price you can get.

Two of the biggest real estate trends to watch are the inventory (homes for sale in Chicago) and the median price (what homes are selling for in Chicago). Selling a home in Chicago will be a lot easier when you understand what’s been happening lately.

Here is a line graph for you to check out that charts these two real estate trends over the past several months:

selling a home in chicago

The green line represents the inventory, or homes for sale. As you can see, the inventory was quite high in the fall of 2013, and experienced a dramatic drop from which it has not yet recovered. This means that if you were to put your house up for sale now, you would not have much competition from other sellers for qualified buyers. In a low inventory market, homes don’t generally sit for long.

Now check out the red line, which represents the median price of homes for sale in Chicago. When inventory is lower, prices tend to rise, and when inventory increases, prices drop. Because now is a low inventory period for Chicago real estate, the home prices are as high as they’ve been over the last year. This is good news for you as a seller because it means that you are much more likely receive your asking price, assuming it is set at a fair and competitive level.

In other words, it’s a great time to be selling a home in Chicago. If you have any questions on real estate trends or want to get started on the process of selling your home, please contact me. I’m happy to answer questions and help you in any way I can.

Homes For Sale in Chicago: Featured Listing

In 2012, the Chicago area took the top spot in Zillow’s ranking of the best real estate markets for homebuyers. In July, Chicago was the best buyers market among the nation’s 30 largest metropolitan area. As the market recovers, there are expectations that the market will continue to get better. Unfortunately, the winter months put the real estate market in a real lull, but if you are looking at buying a home, this may be a great time to start. You don’t want to start when prices sky rocket due to demand. You want to look now while home prices are low. Be a part of the recovering market and begin your home search today. Your search can begin here with this featured listing.

home in chicago

This home has been rehabbed down the studs! There are 4 bedrooms, 3.5 baths and tons of sun light. The floor plan is open and high end finishes are throughout the house. There are beautiful hardwood floors, premium carpet in the bedroom, a stunning top floor master suite that includes a master bath with a separate soaking tub and shower, a den with a fireplace and 4 skylights. The location alone makes this home worth so much. It is located near many schools, shopping centers, restaurants and more. Enjoy all the luxury of this single family home with the convenience of a great location.

Contact me today if you want to see this home or any of the lovely homes in Chicago. I want to help you find the perfect home for you and your family.