Are buyers negotiating more after 37 days on market in Chicago?

[SimpleWall]

Thirty-seven days is the number tempting me to assume buyers have leverage, but the condition of these Chicago flats may be doing most of the work.

The asking range I am following is roughly $316,000 to $474,000. Renovated homes seem to attract attention quickly, while units needing work remain available longer or reduce their prices. That makes a single market-time average difficult to use.

Would you treat 37 days as meaningful only after checking when the first reduction occurred? A few tightly matched completed sales—same neighbourhood, finish and fees—would be more useful than general impressions. I would also like to know whether the slower properties sold after a cut or simply disappeared from the market.

 

[ravi.dale]

Thirty-seven days alone probably isn’t enough to answer it. A seller who needs to move may negotiate before then; an unhurried seller can reject reductions much later. Neighbourhood boundaries, condition and buyer financing could explain more than the citywide average.

I’d compare completed sales within a very tight area, then note withdrawn listings separately so they don’t disappear from the picture. Also look at when each price cut happened and whether new-listing volume rose at the same time. Are these flats actually comparable in finish, fees and exact location?