How Did Our Chicago Market Change This July?

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.

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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.

Our Chicago market is shifting
— Leigh Marcus