Is Chicago inventory rising or falling?

The number of homes for sale in Chicago right now is going down. This means there are fewer houses on the market compared to this time last year. Specifically, there are 12,574 active listings, which is 10.7% fewer homes than there were a year ago. Also, fewer new homes are coming up for sale, with 9,700 new listings, down 13.0% from last year. When there are fewer homes for sale, buyers often have to act quickly. Homes are staying on the market for around 33 days, which is a little longer than last year. Even with fewer homes, sellers are still seeing strong interest. The median listing price is "$389,000", which is 2.4% higher than last year. The average listing price is "$1,373,191", a big jump of 144.6% from last year. If you're looking to buy in Chicago, know that you'll have fewer options to choose from, and you might need to make decisions faster. If you're selling, there's less competition, which can be a good thing for your asking price.