As in most Chicago neighborhoods, 2015 was a better year for real estate in Harwood Heights than 2014.
Low inventories have been affecting real estate sales for the past few years, and 2015 was no different. Although there was a 9.3% increase in new listings, at the end of the year there was only a 3.7 months' supply of available homes. This is down 40.2%, from a 6.1 months' supply at the end of 2014. This low inventory factor will likely affect the number of closed sales, at least in the near term.
Closed sales increased in 2015 by 8.4%, the median sales price was up from $220,000 to $244,000, and it took an average of 10 days less to sell a house, approximately 90 days.
Take away: It may be a really good time to list your Harwood Heights home. There isn't much competition.