Chicago Homebuyers Seeing Smaller Discounts

According to data gleaned from Redfin, a Seattle-based online real estate brokerage and search company, Chicago-area neighborhoods are seeing homes being sold at prices closer to list prices than they were at the beginning of the year.

The list price, according to Redfin, is "The price of a home for sale set by the sellers and their listing agent." This number can be lowered multiple times during its stay on the market and the company notes that "It's important to watch how the list price changes for homes you're interested in as it can indicate how willing a seller may be to drop her final sale price."