Chicago may be the second city but it's No. 1 for homebuyers looking for a good deal.
Of the 50 largest metropolitan markets, the Chicago area is the top buyer's market, according to real estate site Zillow, meaning buyers have bargaining power because there are plenty of properties available for sale with steep price cuts and homes that sit on the market longer.
Within the Chicago market, Downers Grove, Northbrook, Palatine, Buffalo Grove and Orland Park were considered the top five communities for buyers.
Which communities in the Chicago area are the best for sellers? Of the top five, three -- Crown Point, Valparaiso and Munster -- are in Indiana. Bolinbrook and Aurora round out the list.
Zillow's calculations looked at sale-to-list price ratios, the number of days a property spent on Zillow and the percentage of homes on the market with a price cut.
Other buyers' markets nationally were Milwaukee, Cleveland, New York City, Philadelphia, Jacksonville, Fla., Providence, R.I., Cincinnati, Hartford, Conn., and Houston.
The top sellers' market was San Jose, Calif., followed by San Francisco, Las Vegas, Sacramento, Phoenix, Riverside, Calif., Washington, D.C., Los Angeles, Salt Lake City and Austin, Texas. Some of the interest in those markets is driven by investors buying properties in bulk and turning them into rentals, Zillow said.
Of the 50 largest metropolitan markets, the Chicago area is the top buyer's market, according to real estate site Zillow, meaning buyers have bargaining power because there are plenty of properties available for sale with steep price cuts and homes that sit on the market longer.
Within the Chicago market, Downers Grove, Northbrook, Palatine, Buffalo Grove and Orland Park were considered the top five communities for buyers.
Which communities in the Chicago area are the best for sellers? Of the top five, three -- Crown Point, Valparaiso and Munster -- are in Indiana. Bolinbrook and Aurora round out the list.
Zillow's calculations looked at sale-to-list price ratios, the number of days a property spent on Zillow and the percentage of homes on the market with a price cut.
Other buyers' markets nationally were Milwaukee, Cleveland, New York City, Philadelphia, Jacksonville, Fla., Providence, R.I., Cincinnati, Hartford, Conn., and Houston.
The top sellers' market was San Jose, Calif., followed by San Francisco, Las Vegas, Sacramento, Phoenix, Riverside, Calif., Washington, D.C., Los Angeles, Salt Lake City and Austin, Texas. Some of the interest in those markets is driven by investors buying properties in bulk and turning them into rentals, Zillow said.
No comments:
Post a Comment