City is second to none in the real estate residential buying market. This is not the news homeowners want to hear,
but I would hope doesn’t come as a complete shock.
ranked the Chicago area as the leading buyer’s market out of the 30 largest
metropolitan markets twice this year, July and November. The ranking is based on 1) the length of time
the property stays on the market, 2) consistent drops in price, and 3) selling
for less than the listing price; all factors that give the perspective buyer
the upper negotiating hand.
The real estate
website has Chicago as the only market out of 30 that showed consistent decline
in value month after month. However,
buyers did not get their way in every market.
According to Zillow, in certain cities like Carpentersville, Elgin,
Matteson, Sycamore, and Plano, the seller seemed to hold their ground on their
If we look
at the 2012 Coldwell Banker’s National Home Listing Report, which surveyed the average listing
prices for 4 bedroom 2 bath homes around the country, we can all see that
Chicagoland as a whole is at an all-time bargain! Prices range from the South Suburbs of
Chicago at $80, 000 to our prestigious Northshore Suburbs at an average of
$750,000, and Chicago itself coming at an average of $215,000.
I guess this
means if you are in the market to buy, now is the time!
Chicago Tribune/breaking Business, Chicago Tribune/Chicago Homes
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