February’s data for both Single-Family Homes and Condos shows a greater discounted sale price from the original listing price as opposed to the previous month’s data. Both Single-Family Homes and Condo prices declined compared with prior month’s data.
Typically, February being a shorter month and the middle of winter will show longer market times and lower prices in most markets. Overall, inventory is slightly higher but prices are significantly higher than this period one year ago; Single-Family Homes are up over 7% and Condos are up 8.9% for the Chicagoland area. This is a great improvement from February of 2025 versus 2024.
If you are planning to sell this Spring, now may be an opportune time to list while competition is relatively low. It is important to not only time your sale strategically, but to also seek advice on how to market/show your property and its attributes correctly to gain the most exposure and achieve the best price.
What are your thoughts on buying or selling your home in the current economic landscape?
