Interesting changes took place this July in our Chicago market, and today we’ll be going over all the most important developments you need to know.
Looking to buy a home? Click here to search the MLS
Looking to sell a home? Click here to get a home value report
Chicago’s market underwent some interesting changes this July. For one thing, the number of listings rose 6% year over year and 13% from July of 2016. Consequently, demand is down—it dropped 4% since last year and 8% since July of 2016. Another change we’ve seen is that the number of expired listings is up. This figure rose 20% compared to July of 2017 and a whopping 40% since this time two years ago. And the homes that are selling are taking longer to do so, with the average days on market rising 25% year over year. If you have any questions about what these figures mean for you, please reach out. To see our full message, watch this short video.