Home Selling in 60614>Question Details

Diana, Home Seller in Chicago, IL

When is the best time to put my condo on the market - we're thinking a weekend in February?

Asked by Diana, Chicago, IL Sun Jan 6, 2008

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February is a good time to list, the earlier in the month the better. The next few weekends in January we should see increased activity in both product and buyer contracts. In fact, this weekend I'm already experiencing an influx of calls and showings from people who'd placed their search on hold over the Holidays, and are now ready to resume and purchase. Many people travel over the holidays, so February is a prime month. February, March and April are the most active months in the Chicago market. It is also a better idea to hit the market publically on a Monday or Tuesday to be viewed as a new listing for an entire week if possible. Also, gains momentum throughout that first week to bring you good weekend activity the first weekend. Example if you place your property on the market on a Friday many agents working with potential buyers will not be able to schedule so quickly. If you would like further information, feel free to contact me at jsouth@dreamtown.com. Best, Jennifer
2 votes Thank Flag Link Sun Jan 6, 2008
February is one of the best months of the year to list a property in Chicago. Most people place their property searches on hold for the holidays and many people are still travelling early in January. The next few weekends will see an increase in buyer activity from those people who are ready to resume their search and purchase - and they are already educated on market conditions and will be ready to move and the best indication of market value for your home. February, March and April are the most active months of the year in this market. I can provide more information about showing, pricing, etc. Feel free to email me at jsouth@dreamtown.com. Best, Jennifer
Web Reference: http://dreamtown.com
1 vote Thank Flag Link Sun Jan 6, 2008
Whenever you're ready. You may already be listed by now. Give us an update. If you are not already on I'd do it between now and April 1. This winter keep dragging and the snow isn't melting and I keep wearing this Bears winter hat to showings and it needs to stop. Once the weather turns I feel a pick up in activity that is already picking up thanks to this time of year.
0 votes Thank Flag Link Fri Feb 22, 2008
ASAP! condos are taking 120 days (mostly because sellers are not being given accurate information on market conditions and homes are still being put on the market overpriced).

If your home takes 90-120 days to sell (sorry for that grim advanced news) and July is the peak selling month in Lincoln Park (which it is), then March 1 or sooner....ASAP. If you've signed with someone make sure they tell you what the absorption rate is for your specific home.

If they ask what an absorption rate is fire them and give me a call. Good Luck!
0 votes Thank Flag Link Fri Feb 22, 2008
Diana,
Chicago offers an extremely busy January market - so I unabashedly advise you to get your place on the market as soon as possible. In the past eight years January has typically been my busiest business month. So far this year I have witnessed a significant increase in calls for my listings and my clients and I have sold one Andersonville townhome while we expect to finalize another contract on a new construction home in Bucktown sometime tomorrow. Good luck with preparing to list and aggressively marketing your home. Feel free to email me with any additional questions at info@tommccarey.com or call me at 773.848.9241.

All the best!
0 votes Thank Flag Link Tue Jan 8, 2008
That's a very regional question. I'm in the northern suburbs of Chicago... up here I'd recommend the 2nd or 3rd weekend in February... depending on where you're listing, the broker's tour day varies... I agree... I'd go with the weekend prior to broker's tour... maybe as late as Sunday.
0 votes Thank Flag Link Sun Jan 6, 2008
Alan May, Real Estate Pro in Evanston, IL
MVP'08
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I also advise clients to list on the mls on Friday so that buyers will see it to schedule their weekend open house tour. Our broker's tour is Tuesday here in SF, and I recommend that sellers schedule for the week preceeding their first open house weekend.
0 votes Thank Flag Link Sun Jan 6, 2008
Hi Diane - I wrote an entry in my blog in response to your question - I have had a number of clients as the same question.
0 votes Thank Flag Link Sun Jan 6, 2008
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