Chicago Mag's Dennis Rodkin merges anecdotal evidence with MRED data to prove how the most attractive properties are selling ridiculously fast these days. January's Chicagoland sales closed 18.7% faster than a year prior, a percentage that shoots up in pricier nabes. This jibes with what we've gleaned from our time spent on MLS, watching listings come and go. Factors include reduced inventory on account of reticent sellers (down 40.8% y-o-y), and impressions that prices are rising and interest rates have bottomed. A home browser's instinct says buy now while the getting is good. [Chicago Mag, photo: 215 W Illinois #5C]
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