Selling a Home? It Might Not Take as Long as You’d Think

Homes are selling faster today, both in Chicago and across the nation. That’s great news for home sellers.


According to the National Association of REALTORS®, in 2014 and 2015, homes sold across the United States at a median of just four weeks. This is the lowest this number has been in the last 20 years.


In Chicago, the Illinois Association of REALTORS® reported that homes sold in an average of just 38 days, an impressive number.


Sellers know just how good this news is. Living in a home when you’re also selling it is a challenge. You have to keep your home not just clean but showing clean at all times. You have to be ready to take off from your home for last-minute showings. And if you have pets? You need to hide the evidence of them, and the pets themselves, whenever potential buyers are touring your property.


So it’s a blessing to sell a home in as few days as possible.


What’s behind the quick selling pace, both here and across the United States? The REALTORS® association pointed to the lack of homes available for sale. The inventory of for-sale homes has been low for several months now. When buyers have a smaller number of homes from which to choose, those condos and single-family homes that are on the market tend to sell at a faster rate.


The lack of inventory is especially true here in Chicago. Just ask buyers who are looking for homes in neighborhoods such as Lincoln Park, Lincoln Square and Lakeview. There simply aren’t that many homes available. Those homes that do hit the market in these neighborhoods tend to attract a lot of attention, and they do so quickly.


If you are ready to list your home, work with a REALTOR® who knows your neighborhood. This professional can market your property to the deepest pool of buyers and help you secure the best price for your home.