Let’s check in on our stats once again and find out where buyers are currently getting the biggest discounts off asking price. If you are a potential buyer, this will help you to know which neighborhoods may be softer in terms of sale price discounts off list price, and help you know where to look for potential bargains.
In the charts below, we have taken all sales data from last month in the Chicago area and sorted it by city/town. 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 areas 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 areas with the largest overall discount:
The overall discount rate for the Chicago area bumped up slightly from May to June, moving from 6.2% to 6.4%. Last month’s top-ranking Harvey dropped out of the top 10 entirely, while newcomer Northlake rocketed to the top with a whopping 19% average discount.
Here are the ten areas with the smallest discounts:
None of the 120 areas we ranked came in with an average sale price above the average list price.
Is the area you’re shopping not on either the top 10 or bottom 10? No problem, just download the full rankings in Excel format and hit the “FullSummary” sheet.
Of the 5,811 sales we tracked in the 1-month period, 1,214 homes (21%) sold for 10% or more off the asking price, while 367 homes sold for 5% or more above the asking price.