January’s data for both Single-Family Homes and Condos shows a discounted sale price from the original listing price as opposed to the previous month’s data which was inverse. Single-Family Homes prices stayed consistent with prior month’s data with inventory significantly decreasing while Condo prices declined.
Overall, inventory is slightly higher but prices are significantly higher than this period one year ago; Single-Family Homes are up over 13.6% and Condos are up 17.4% for the Chicagoland area. This is a great improvement to the start of 2025 versus the start of 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?
