Chicagoland detached homes spent 78 days on the market, and attached homes were on the market an average 67 days.

The median sale price of a home in Chicago was $275,000, a 1.5% increase month over month and a 12.7% increase over last year.

Eighty-eight percent of all homebuyers said they used an agent as a source of information during their search, and 91% of millennials age 22 to 30 said the same.

Brokers remain optimistic despite low inventory of homes, the ongoing pandemic and iBuyers.

It is not “first comes love, then comes marriage,” but for many women, “first comes homeownership,” according to First American Chief Economist Odeta Kushi.

Report finds luxury apartment search is at an all-time high in Chicago.

Nationally, homeowners with mortgages saw their home equity increase by 16.2% year-over-year from the fourth quarter of 2019.

It also ranks among the top 20 states in the education, opportunity and crime and corrections categories.

Lenders issued $1.06 trillion worth of mortgages in the fourth quarter of 2020 with refis contributing to the boost.

“More jobs are very likely, due to the near certain passage of the $1.9 trillion stimulus package and from two million vaccinations per day.” — National Association of Realtors Chief Economist Lawrence Yun

The increase follows a decline earlier in February that cut the number of homeowners in forbearance plans to less than 2.7 million, the first dip below that threshold since April 2020.

New home listings nationwide fell 17% from last year, while median home sale prices are up 15%, according to a recent Redfin report.  

The all-time high for January comes as limited supply cut pending transactions on a monthly basis, the association said.

The median sales price in the first month of 2021 was up 11.8% from January 2020 to $285,000, nearly matching the record high of $290,000 set last August.

In Chicago, 31.9% of Redfin offers faced bidding wars in January compared to 26.3% in December 2020.

After declining for years, the size of new single-family homes has begun to level off as consumers spend more time at home, a National Association of Home Builders analysis found.