Home sales in Chicago speeding up, says IAR

Single-family sales prices up by mid-double digits
  • Single-family sales prices are up year-over-year by 16.4 percent
  • Chicago's existing home inventory is down by nearly 16 percent.
  • The average Chicago home is on the market for two months.

Existing home sales data for February all points to Chicago as a seller’s market. During the month, homes sold faster and in a larger quantity than during the same period last year. At the same time, sales prices rose by double digits and total inventory dipped by nearly 16 percent.