Active listings in Chicagoland drop 7.8% in June

by Jacqui Mueller

Buyers in the Chicagoland area continue to face a tight housing market, with active listings in the Chicago-Naperville-Elgin metro falling 7.8% year over year in June, according to Realtor.com.

Fewer homes were also hitting the market each week, as new listings declined 11.8% year over year, compared to a 2.4% increase nationally.

At the same time, home prices moved against the national trend. The median list price in the Chicago metropolitan area rose 3.8% year over year in June to $394,500, while the national median fell 2.5% to $430,000. Realtor.com attributed the local price increase to constrained inventory and steady buyer demand.

Sellers also proved less willing to cut prices. In June, only 12.7% of Chicago-area listings saw a price reduction, below the national share of 18.8%. All that said, Chicago metro homes sold faster than the rest of the country, spending 33 average days on market, compared to 53 days nationally.

Read More Related to This Post

Join the conversation

New Subscribe

  • This field is for validation purposes and should be left unchanged.