Market Update

Stats from the Chicago Association of Realtors, for the week of April 4-10.
Chicago condo sales (closings):
2006
units/median price
366/$277,500

2007
units/median price
335/$285,500

2008
units/median price
206/$335,700

That's a drop 44% drop in closings from this week in 2008 from the same week in 2006. What does this mean? A lot less is selling. Buyers have a lot more to choose from and market times are very high (in River North, the recent average was 118 days).

So, bottom line, if you're thinking of selling, your place needs to be priced right and in perfect showing condition. Find some great staging tips here.