Biggest Discounts February Update

Let’s have an update on where buyers are currently getting the biggest discount off the asking price. Our goal in sharing this data is to help potential buyers to know which neighborhoods are softer in terms of sale price discounts off list price, to better equip you when making an offer, and help you know where to look for potential bargains.

In the charts below, we have taken all sales data from the last two months in Redfin’s Chicago coverage area and sorted it by zip code. We calculated the overall difference between the sale price and the list price. Note that this reflects the final list price, after all price drops in the listing. Any zips with fewer than ten sales are excluded from the top and bottom ten rankings, but interested readers may download the full data summary in Excel format (xls).

Here are the top ten zip codes with the largest overall discount:

Over in 60644, some relatively inexpensive homes are selling at the largest discounts in the Chicago area. The overall discount for the Chicago area came in at 3.8% this month.

Here are the ten zip codes with the smallest discounts:

Of the 2,158 sales we tracked in the 2-month period, 183 homes sold for 20% or more off the asking price, while 398 homes sold for more than asking, with many of those located in just four zip codes.