Dunning’s housing supply is relatively lean, with 63 homes on the market in February and inventory down about 19 percent from last year. Even with fewer options, buyers saw 69 new listings come up, though that was down more than 31 percent year over year. Fewer homes for sale and fewer new listings together help explain why conditions lean toward a seller’s market here.
Homes in Dunning are moving faster than they did before, spending a typical 47 days on the market, which is about 22 percent quicker than last year and roughly 10 percent faster than just a month earlier. Despite that brisk pace, pending sales were down almost 29 percent from a year ago, suggesting that some buyers may be hesitating or struggling to compete in a tight environment.
Pricing has been edging up, with a typical home value of about $365,000 in February, up 3.55 percent from last year and 1.39 percent from the prior month. The median list price reached $399,900 and is projected to climb to about $412,350 in March, while roughly 43 percent of homes recently sold above asking and the average sale-to-list ratio hovered very close to full price at 0.998. With local values just under Chicago’s $390,000 typical home value but a stronger seller’s market reading, both buyers and sellers in Dunning can benefit from using Agent Pronto to find an agent who understands these trends and can guide their next move.
