Market Conditions in Chicago>Question Details

Janelle.Fris…, Both Buyer and Seller in Chicago, IL

What is the average amount of time a house is on the market in Chicago?

Asked by Janelle.Frisch, Chicago, IL Sun Mar 10, 2013

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14
The market time really varies for each area, building, and it depends how well it is priced.
0 votes Thank Flag Link Fri Mar 15, 2013
This is to wide of a question to be answered, what type of property, size, age, location, construction,
amenities etc. etc. etc. and only with all the details of either what you intend to sell or what you intend to buy, can give you some indication, I am assuming you are looking to sell, and wonder how long it will take to be sold.... faster if in an area near transportation, parks, shopping etc., with garage parking,
newer building, great amenities, hardwood flooring and staged, repaired and fixed to show its best, then it will sell faster than other similar properties....

Most importantly with a good Realtor and his/her market evaluation you will price your property RIGHT, i.e. market friendly but competitively from the start to raise the interest level of the Realtors and the buying public.
If you need a recommendation for a local Realtor get back to me I gladly recommend on to you who is
particulGood Luck to you

Sincerely yours,
Edith YourRealtor4Life & Chicago, North Shore & Northern Illinois Expert
Working always in the very BEST interest of her clients, Buyers, Sellers and
Investors alike....And always with a SMILE :)

Covering for @Properties Chicago & suburbs, and with her trusted Partner
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arly familiar with your areas of interest in the city.
0 votes Thank Flag Link Thu Mar 14, 2013
Each neighborhood in the city has different characteristics - work with a REALTOR to help you focus on exactly where you want to be.
0 votes Thank Flag Link Thu Mar 14, 2013
this question requires more detail about the specific property
0 votes Thank Flag Link Wed Mar 13, 2013
It all depends on the area. Average market time for houses in Chicago is around 70 days but if the property is priced right it will sell fast sometimes in few days with more than one offer on the table.

If you need any help or more information please contact me.

Paul Fijalkowski
Coldwell Banker Residential Brokerage
Tel. 847-532-2093
Paul.Fijalkowski@cbexchange.com
0 votes Thank Flag Link Wed Mar 13, 2013
If the house is priced appropriately in a hot area, it can sell overnight. If it is overpriced and has something wrong with it, it could sit for years.

It is impossible to give a general answer to your question. If you are considering selling your home, I would recommend finding a good Realtor to work with - they will make sure that your home is priced correctly and sold in a reasonable amount of time.
0 votes Thank Flag Link Wed Mar 13, 2013
All depends on price and area. If its priced right it will sell fast!
0 votes Thank Flag Link Sun Mar 10, 2013
as always .. the market is extremely responsive to well priced homes that all the neighbors like to say are such a deal..they are not a deal..they are the right price..the system is working fine and there is 0 reasons to not have 3 showings per week if your priced right..and never more than 10 showings without a contract.
0 votes Thank Flag Link Sun Mar 10, 2013
Right now, if it is priced right in an area with demand, maybe a week until you see a contract, add the time of the negotiation and you have about 14 days.
For property in an area with less demand, and a challenge to the price point, more time.
Improperly priced houses, or homes in areas with little or no buyer activity can be on the market well over a year, and simply not sell.
0 votes Thank Flag Link Sun Mar 10, 2013
Janelle,

That is not an easy question to answer. So many factors play into the amount of days a house or condo stays on the market. This will very by neighborhood(s) and sometimes by block. I attended a market analysis seminar and if you truly want to know the number of days it will take your house/condo to sell have a very experienced broker run a comparative market analysis for you. The market analysis will have the most like selling price and the number of days the house/condos for your area stay on the market.

Selling is no longer a cookie cutter. We must look at all the factors that drives market today.

I hope this is helpful.
0 votes Thank Flag Link Sun Mar 10, 2013
Depends on price, location, and style of the property. Something that is priced right in a hot area will sell in 24hrs.
0 votes Thank Flag Link Sun Mar 10, 2013
Janelle,

If you visit http://www.idealhomesinchicagoland.com you will be able to get a breakdown by zip code of market information. This information is connected directly through the MLS and is up-to-date. You can also obtain other valuable information if you are either a home seller or home buyer. My website is free of charge for your use.
0 votes Thank Flag Link Sun Mar 10, 2013
If you price a house appropriately in this market it should not be on for longer than 60 days.
0 votes Thank Flag Link Sun Mar 10, 2013
There are lots of factors to determine average market time.....type of propery/neighborhood/price point/condition/ and more. The average market time in currently shorter than it was 2 years ago generally. That is about as generic as I can get.
0 votes Thank Flag Link Sun Mar 10, 2013
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