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As Spring Approaches, Inventory and Sale Prices Climb

The city's real estate market is beginning to thaw after the slow winter

Home buyers who patiently waited through the Chicago winter to start their search in the spring are being rewarded. According to a new report from MLS search site and real estate brokerage Redfin, buyers can expect to find many more listings as the number of homes for sale has started to climb after a seven-month lull. Compared to this same period last year, the number of new listings hitting the market has risen by 10%. However, with climbing sale prices and increasing competition for homes, it's still a seller's market. According to Redfin, the typical home in Chicago will last just 39 days before selling.

·Chicago Home Prices Up Nearly 13 Percent As Sales Decline [Redfin]

·Report: Chicago Home Sale Prices Up Amid Rising Competition [Curbed Chicago]