Chicago-Area Home Sales Moved Slower Than The Regional Average In 2017

CHICAGO (WBBM NEWSRADIO) -- Home sales in a handful of Chicago-area communities appeared to be significantly slower in 2017 than the regional average.

Figures released by Midwest Real Estate Data and the Chicago Association of Realtors show in 2017 it took an average of 314 days for homes in Near North to sell. In Kenilworth, Burr Ridge and Wayne, the average was nearly 220 days. That's well over the three month average for the entire Chicago-area.
WBBM's Jim Gudas reports.

But Heather Gustafson of At Properties said even in those communities, homes are eventually selling.

"This market is still certainly transactional and we are seeing movement," Gustafson said.

She said sellers who put their homes on the market for a fair price and who maximize their homes' value with adequate maintenance and upkeep should do fine in this housing market.

The report also found homes at the higher end of the price scale are among those taking longer than average to sell.