Are sellers cutting prices in Chicago?

Really, not many sellers are cutting prices in Chicago right now. About 16.3% of listings have seen a price reduction. This is very slightly less than the share of price cuts we saw at this time last year. It means most homes are still selling close to their original listed price. The median listing price in Chicago is $389,450. This price is down a little bit from the prior month, but it's still higher than what we saw at this time last year. Homes are holding their value fairly well. Right now, homes are staying on the market for 36 days before going under contract. This is a bit faster than at this time last year. It shows that homes are still moving at a reasonable pace. For you, this means that if you're looking to buy, don't expect a lot of sellers to be open to big price drops. If you're selling, pricing your home right from the start is key.