Is Chicago a seller's market right now?

Chicago is currently experiencing conditions that favor sellers. Fewer homes are coming onto the market, and competition among buyers is strong, leading to quicker sales. Right now there are 12,574 homes for sale. This is 10.7% fewer than last year. The number of new homes being listed is also down by 13% compared to a year ago, with 9,700 new listings last month. This shrinking supply makes it tougher for buyers to find a home. Homes are also selling faster than before. The typical home is on the market for 33 days, which is a bit longer than last year, but homes are still moving quickly. For every 100 homes for sale, 111 are already pending sale. This\'s a big jump (9.7%) in buyer activity compared to last year. The median listing price is $389,000. That\'s 3.7% higher than last month and 2.4% higher than last year. This increase tells us that homes are holding their value, and even gaining some, which is good news for people selling their homes. If you\'re looking to sell your home in Chicago, these conditions suggest you\'re in a good position to attract multiple offers and potentially sell your home quickly.