Chicago, IL home prices and housing market

Chicago sellers are holding firm, with values up about three percent this year and fewer than one listing in ten cutting price. If you own a home here and have been wondering whether the market still favors you, the August numbers give a clear answer. The typical Chicago home is now worth about three hundred thirty-five thousand dollars, up three point three percent from a year ago. That is steady growth, not a boom, but it is real. And homes are moving, with the median sale taking about thirty three days, so well priced listings are not sitting around. Here is what really stands out. Only about one in ten listings has cut its price, which tells you most sellers are pricing right the first time and buyers are meeting them. But one number cuts the other way. The median list price is about three hundred seventy-seven thousand dollars, roughly forty thousand above the typical home value, so there is a real gap between what some sellers ask and what homes are actually worth. With around thirty four hundred homes for sale and nearly two thousand new listings hitting the market, buyers have enough choices to skip an overpriced home. The move for sellers is simple: price at the market, not above it, and this market will reward you. Find out what your Chicago home is worth with a free estimate at Home Value Pros dot com.