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As your Chicagoland real estate agent Michael LaFido, I want to be your resource for all things real estate. Whether you are buying, selling, or investing in real estate, I am here to guide you through the process. Subscribe to this blog to learn all of the latest news from our local market and receive expert tips for buying or selling a home.

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There are many great Chicagoland area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (630) 674-3488 for a FREE home buying or selling consultation to answer any of your real estate questions.

After pouring over market statistics here at our office in Dupage, we've come up with some graphs to enlighten you on what people are actually paying for properties here in the Chicago area.


Selling Price versus Listing Price

  •  This graph I've created is showing you what people are paying for homes based on their respective list prices. This data was taken from February 2013 to January 2014.
    •  I've divided these numbers on the price of the homes that have been sold, and I found some interesting numbers.
      •  For example, if you buy a $100,000 dollar home, you can expect to pay $86,000 for it.
      •  For homes around $700,000 you will pay the most. On average, you will pay 96% of the listing price.
      •  On average, you will pay 91% of the listing price in the Chicago area.

What You Can Expect to Pay versus Days on Market

 The data used to make this graph was from February 2012 to January 2013.

  •  When you're looking to buy a home, the longer it has been on the market seems to indicate a lower final selling price.
    •  The first two weeks that a home is on the market seem to be the hottest. Buyers paid 97% of the listing price on homes that had been on the market less than two weeks.
    • The period from 2-4 weeks seems to be another time when homes will garner higher selling prices with buyers paying 95% of the listing price.
    • Basically, the longer a home is on the market, the less you can expect to pay for it. After 17 weeks, buyers paid 86% of the listing price for a property.
  • When a home is on the market longer, buyers will see this and think that there might be something wrong with it so they will refuse to pay the full asking price.
    • This is why it is important to price your home correctly from the start.
On a side note, if you're seeking luxury properties in the Chicagoland area that are $750,000 dollars or more, I have created a website where you can view them. Take a peek at www.LuxeSuburbanHomes.com if you want to view properties in the suburbs of Chicago that are known to have luxury properties.

Also, if you want to discuss these statistics that I've shown you or if you need assistance with real estate in the Chicagoland area, then please do not hesitate to call me. You can contact me at Mike@LivinginDuPage.com or you can check out our blog at SuburbanRealEstateTV.com where you can ask us questions that will be answered in our blog.

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