Realty Executives Midwest

Serving Darien, IL

Realty Executives Midwest


Market Update for Darien, Illinois Shows Home Prices Are NOT Budging

(Published on - 10/26/2023 10:08:17 PM)

As of September 2023, the Darien real estate market is experiencing some fascinating shifts.

Firstly, we have a current inventory supply of only 0.47 months. Yes, you heard that right! This means that if no new homes were added to the market, it would only take 0.47 months to sell off all the existing inventory. This low supply is certainly something sellers should take note of.

Now, let's talk about the remarkable change we've witnessed in the past year. Over the last 12 months, the months supply of inventory has experienced a staggering decline of 71.17%. This shows a significant decrease in available homes, which ultimately favors sellers like you. With fewer options for buyers, your home becomes more desirable and stands a better chance of selling quickly.

Moving on to the next noteworthy statistic, the list to sold price percentage currently stands at an impressive 100.2%. This means that on average, homes in Darien are selling for 100.2% of their initial list price. As a seller, this indicates a strong market where buyers are willing to pay a premium for well-priced properties.

Now, let's talk about the crucial aspect of time. The median days on the market in Darien is just 12 days. That's right, only 12 days! This means that, on average, homes are selling within a mere two weeks of being listed. With such a quick turnaround time, sellers can expect a speedy and efficient selling process.

Lastly, let's discuss the median sold price in Darien, which currently stands at $387,500. This represents the middle point of all homes sold in the area, indicating a strong market with healthy price growth. It's essential to keep an eye on this figure as it can provide valuable insights into the overall market performance.

So, sellers, what do all these numbers mean for you? Well, it's evident that the Darien real estate market is favoring sellers right now. With a low supply of inventory, high list to sold price percentages, quick selling times, and a healthy median sold price, there couldn't be a better time to list your home.

If you're considering selling your home in Darien, we would be thrilled to help you navigate this exciting market. Feel free to reach out to us at Realty Executives Midwest, where we pride ourselves on providing exceptional service to our clients.

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