In a post about Oak Park homes, Eric Rojas notes that sellers near the village’s transportation hubs are holding on to higher asking prices.
This despite the closed comparable homes data of the last 6 months or so. My estimate is many sellers are coming on the market at least 10 percent too high and sitting.
These are nice homes, but the relatively small number closed comparable and better priced homes (including short sales) make it hard for buyers to pull the trigger and pay too much. Many sellers are coming back on the market now at the same, or close to the same price as they went off the market late last season.
Read more about what his clients were looking for in Oak Park, and check out his snapshot of the South Loop’s three-bedroom market at his Chicago Real Estate Local blog.