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WHAT'S GOING ON IN THE ILLINOIS MARKET?

Here you can find the latest residential market trends for the Greater Chicagoland Area. Understanding the months of inventory, list-to-sold price percentage, median days on the market, and median sold price is essential to becoming an educated buyer or seller. You can compare the data to the value of your own home and use it to price it accordingly. It is also a helpful reference point when searching for potential new homes to compare with other homes in the same area. 

Data Found On Realtors Property Resource®, LLC

Cook County

June Market Trends

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The Month's Supply of Inventory is a key indicator of market conditions, with a level of 2.25 indicating a tight market with limited available properties. This low level of inventory can lead to increased competition among buyers, potentially driving up prices. The Median Days Homes are On the Market of 18 days further supports the idea of a fast-paced market, with properties selling quickly once they are listed. This is good news for sellers looking to make a quick sale, but it also means that buyers need to act fast to secure a property. The List to Sold Price Percentage of 100.8% indicates that homes are typically selling for slightly above their listing price. This can be a result of multiple offers and bidding wars, as buyers compete for limited inventory. Lastly, the Median Sold Price of $370,000 reflects the current market value of homes in the area.

DuPage County

June Market Trends

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The current real estate market is experiencing a high demand with a low supply of inventory, as indicated by the low Month's Supply of Inventory at 1.65. This means that there are fewer homes available for sale compared to the number of buyers in the market. Homes are selling quickly, with the Median Days on the Market at only 9 days. This is a clear indicator of the high demand and competition in the market, with buyers eager to secure a property before it is sold to someone else. Sellers are also benefiting from the current market conditions, with the List to Sold Price Percentage at 101.8%. This means that on average, homes are selling for slightly above their listing price, giving sellers more bargaining power and potentially higher profits. The Median Sold Price of $450,500 reflects the overall strength of the market, with prices holding steady or even increasing due to the high demand and low inventory levels.

Will County

June Market Trends

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The real estate market is currently experiencing a high demand for homes with a low supply of inventory, as indicated by the Month's Supply of Inventory being at 1.64. This means that there are more buyers looking for homes than there are available properties on the market, leading to a competitive environment for both buyers and sellers. The Median Days Homes are On the Market at 9 further confirms the fast-paced nature of the market, with homes spending very little time listed before being sold. This is good news for sellers looking to sell their properties quickly. The List to Sold Price Percentage being at 100.8% suggests that homes are selling for slightly above their listing price on average. This is a positive sign for sellers, indicating that they may be able to fetch a higher price for their properties in the current market conditions. Lastly, the Median Sold Price of $356,300 reflects the overall value of homes being sold in the market. This price point can help both buyers and sellers gauge the general price range of properties in the area.

Past Market Trends

Want to see how the current residential market trends compare to previous months?

Find more information below.

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