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Selling My House in Chicago

Posted Wednesday, November 29, 2017

The median home price in September this year was up nearly six percent compared to September of 2016. This fact is great news for sellers in the Chicago area because it means you will get more money out of your property. With fewer homes on the market, you have a higher probability of selling your house for more than market value. 

With a little more than 9,600 homes sold in September 2017 compared to over ten grand last year at the same time, you have much less competition when selling your property. With recent changes in the sale prices of foreclosures, Chicago is seeing more interest in turnkey purchases making it challenging to find homes in some cases. A ten percent increase in the foreclosure costs is a big deal for locals moving across town. With fewer homes available, buyers are likely to get into bidding wars for premium properties. 

According to Chicago Business, it took 100 days on average to sell a house in Chicago in March of 2017. In September 2017, homes were going from open to sold in a matter of 58 days. A recent influx of new properties in Roscoe Village temporarily added more new construction options in the Chicago market causing an oversaturation for a short time in the spring, but the numbers have since leveled off with about seven thousand fewer properties on the market in 2017 compared to fall of 2016. 

How do I sell my house fast?

  • Remove clutter
  • Replace old and overgrown plants
  • Paint the front door
  • Upgrade appliances
  • Add new fixtures and lights
  • Improve security features
  • Increase curb appeal with outdoor living space

Now is a fabulous time for home sellers in Chicago. Fewer houses on the market help you sell yours for more money. Proper maintenance and cautious upgrades can net you thousands at closing.