How Long Does It Take To Close a Home Sale in the Chicago Area?

Shaking hands outside of new home

In the Chicagoland area, how long does it take to complete a sale once you agree to a purchase contract?  

Some transactions take longer than others to get from signed contract to closing table for various reasons.  Most of them having to do with the buyer securing financing, but other items may add to the timeline like issues arising from inspections, title deficiencies, and any number of unexpected matters.

In the Chicagoland area, the average time from accepted contract to closing per month in 2017 was as follows:

Realogy Named One Of The 2018 World's Most Ethical Companies®

Ethics graphic

For the seventh consecutive year, Realogy Holdings Corp., the parent company of Coldwell Banker and other real estate related brands, has been recognized by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices, as one of the 2018 World's Most Ethical Companies®.

Join Us In Welcoming Marko Matviychuk To Our Team Of Chicago Brokers!

Marko Matviychuk head shot

We're proud to welcome Marko Matviychuk to our team!

Marko was born in Ukraine and lived there for ten years before his family moved to the Chicago area.  After graduation, he served in the United States Marine Corps where he spent four years honing his discipline and organizational skills.  He also became a U.S. Citizen during that time.

He moved back to his hometown of Chicago after his military service, married, and decided to pursue his passion for real estate.  

Park Ridge Housing Market Update

Graphic of Park Ridge real estate market update

Park Ridge is a great community with beautiful homes, parks and schools, and convenient to all areas of Chicago and O'Hare.  

Looking at the latest statistics available from MRED, our local multiple listing service, here is what happened in residential real estate in Park Ridge, comparing the first 11 months of 2017 with the same period in 2016.

Northwest Chicago Housing Market Update

Map of Northwest Chicago

Low inventories and higher sales prices had an effect on the Northwest Chicago residential real estate market last year.  Overall, the number of closed sales for 2017 was down, median sales prices were up, and the average market time decreased.  Homes sold faster and for more money.

Local market conditions were far from perfect. New listings struggled to keep up with what was sold very quickly, and buying became less affordable. These two factors ultimately muted what should have been a stronger sales pace.

Zillow Faces New Lawsuit Over ‘Zestimates’

Closeup of dog's nose with text The Trouble With Zestimates

The trouble with Zestimates is that some people believe them to be accurate. They may come pretty close in some neighborhoods where all the homes are similar in age, size, and amenities. But if your home is unique in any way, the valuation may be way off.  To get a much more accurate valuation of your home or property, you simply need to contact a competent real estate broker  

Marti Corcoran awarded Edgebrook-Sauganash Chamber of Commerce Member of the Year!

Marti Corcoran holding her award plaque

At its Installation Dinner on January 10, the Edgebrook~Sauganash Chamber of Commerce awarded its 2017 Member of the Year Award to Marti Corcoran, Real Estate Broker at our office.  Marti was recognized for her outstanding record of leadership on the board of directors and tireless contributions of time, energy and talent to the Edgebrook~Sauganash business community.

Congratulations Marti!  Well deserved!