"Active listings fell to 3,049 in February - down 14.9% from a year ago - while national inventory actually grew 7.9% over the same period."
"Only 7.7% of listings carried a price cut in February - less than half the national rate of 15.5%. The median list price came in at $347,000, up a modest 0.6% year over year."
"The typical Chicago home sold in 38 days - down from 40 days a year ago and dramatically faster than the national median of 70 days."
"Sellers held real leverage last month - and buyers faced fewer choices with less room to negotiate."
In February, Chicago's housing market experienced a tightening, with active listings decreasing by nearly 15% year over year. Homes sold significantly faster than the national average, taking only 38 days to sell. The median list price rose slightly to $347,000, with only 7.7% of listings seeing price cuts. This contrasts with a national inventory increase and higher price reduction rates, indicating strong demand and limited options for buyers in the Chicago market.
Read at SFGATE
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