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Time on Market in Chicago Down 38%

by Peter Thomas Ricci

Market activity in Chicago has quickened considerably, according to a new series of stats from Redfin.

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Chicagoland’s housing market had the need – the need for speed – in October, with time on market in the area falling a whopping 38 percent year-over-year in October, according to Redfin’s latest Real-Time Fastest Markets report. All told, it took 29 days on average for homes in Chicago to pend, down from 47 days a year ago.

Similarly positive was the percentage of Chicagoland listings that pended in two weeks or less. In October, 29.3 percent of listings pended in that time frame, up from 17.5 percent last year.

How does Chicago compare with other markets, though? Check out our graphs below to find out:

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