Urban Real Estate

Homes Sell Faster, Inventory Decline Continues

Homes Sell Faster, Inventory Decline Continues

The latest numbers show that the pace of home sales accelerated in March while overall inventory continued to decline.

In Chicago the median price for March was $226, 000, an 11.8 percent increase from the previous year while available for sale inventory was 40,774, a 13.3 percent decline from the previous year.

The typical home nation-wide went under contract in just 49 days, down from 60 days in Marh of 2016. Nearly 20 percent went under contract within two weeks.

Chicago Agent Magazine has more on the trends here.