As the year is coming to an end,  we hear many opinions and thoughts on waiting until the Spring to put your home up for sale.  Because there are so many of our clients wondering, “should I wait until Spring to put my home up for sale?”  we thought it would be beneficial to address it.

Before I started writing this blog, I researched the exact numbers. You see, I have been in the industry of selling homes since 2001 and, I never thought (d’oh on me) to see if there was actual research, not opinion, around what the actual data is in selling in the Spring compared to other seasons.  What I found absolutely shocked me. Basically, just under a ⅓ of the homes with a Chicago address sell no matter what time of the year it is! Here you will see the data pulled that supports the statement of a ⅓ of the homes actually sell.

 

 

So, here is what the graph above shows:

2015

Q3 – 2015 30,219 were up for sale and 9,446 of them sold.  That leaves 20,773 homes that didn’t sell that quarter. That’s 31% of the 30,219 actually closed.

 

Q4 – 2015 24,558 were up for sale and 7,096 of them sold.  That leaves 17,462 homes that didn’t sell in quarter 4. That’s 28% of the 24,558 actually closed.

2016

Q1 – 2016 26,121 were up for sale and, 6103 of them sold.  That leaves 20,018 homes that didn’t sell in quarter 1. That’s 23% of the 26,121 actually closed.

 

Q2 – 2016 30,039 were up for sale and, 10,239 of them sold.  That leaves 19,800 homes that didn’t sell in quarter 2. That’s 34% of the 30,039 actually closed.

 

Q3 – 2016 29,707 were up for sale and, 9,280 of them sold.   That leaves 19,887 homes that didn’t sell in quarter 3. That’s 31% of the 29,707 actually closed.

 

Q4 – 2016 24,346 were up for sale and, 7125 of them sold.  That leaves 17,221 homes that didn’t sell in quarter 4. That’s 29% of the 24,346 actually closed.

2017

Q1 – 2017 27,041 were up for sale and, 6650 of them sold.  That leaves 20,391 homes that didn’t sell in quarter 1. That’s 24% of the 27,042 actually closed.

 

Q2 – 2017  30,261 were up for sale and, 10,409 of them sold.  That leaves 19,852 homes that didn’t sell in quarter 2.  That’s 34% of the 30,261 actually closed.

 

Q3 – 2017 30,524 were up for sale and, 9129 of them sold.  That leaves 21,395 homes that didn’t sell in quarter 3. That’s 29% of them actually closed.

 

Q4 – 2017 24,655 were up for sale and, 7330  of them sold. That leaves 17,325 homes that didn’t sell in quarter 4.  That’s 29% of them actually closed.

2018

Q1 – 2018 25,928 were up for sale and, 6385 of them sold.   That leaves 19,543 homes that didn’t sell in quarter 1. That’s 24% of them actually closed.

 

Q2 – 2018 30,521 were up for sale and, 10,230 of them sold.  That leaves 20,291 homes that didn’t sell in quarter 2. That’s 33% of them actually closed.

 

Q3 – 2018 31,037 were up for sale and,  8737 of them sold. That leaves 22,300 homes that didn’t sell in quarter 3.  That’s 28% of them actually closed.

 

When we look at this data, it shows that in Chicago you have the best chance to close on a home in the 2nd quarter of each year, showing that the “spring” market has the best odds at a 33.66 percent.  Typically the “spring” market is looked at as the time between mid February to June 1.

 

 

 

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