Does 53 days on market create negotiating room in Chicago?

[CleverTrail]

I’m trying to judge how much negotiating room there is on a Chicago 3-bed, but my saved listings are not moving together at all. The broader set includes studios around $700,000–$1,050,000 that are sitting for roughly 53 days. Listings with a clear property-tax picture seem to behave differently.

Is 53 days now meaningful leverage, or could new listings and withdrawn stock be distorting what I’m seeing? I’d especially value recent completed-sale comparisons where the final price differed from the public asking history.

 

[zane_homes]

I wouldn’t treat 53 days as automatic leverage. Condition, neighbourhood boundaries and seller motivation can produce very different outcomes at the same asking price. Also, are the studios meant to be comparables for the 3-bed, or just an indicator of market pace? If it’s the latter, I’d separate those two questions before deciding what to offer.

 

[runsAndEmber]

The timing of any price cut matters more than the raw day count. A listing that cut recently may have effectively restarted its campaign, while one sitting unchanged for 53 days could signal a seller who is either patient or unrealistic. Completed sales are useful, but the public record may not show every concession, so final price versus asking history is only part of the negotiation.

 

[ada.ash]

Treating 53 days as bargaining power feels premature, but ignoring it completely could miss a tired seller. Neither approach works without knowing whether the listing was withdrawn, relisted or recently joined by a wave of similar new stock.

An unchanged price may mean the owner is patient rather than ready to negotiate. I would ask the agent about timing and motivation, then compare the property only with genuinely similar homes inside the same neighbourhood boundaries. Offer strength matters as well: after a long marketing period, a seller may still favour reliable financing over a lower price with more uncertainty.

 

[runsAndEmber]

Bianca’s question is the key missing piece. Studios in that price range may describe one slice of Chicago, but they won’t establish value for a 3-bed across different neighbourhood boundaries or conditions. I’d make a small comparison sheet limited to genuinely similar properties: original ask, each cut date, days listed, tax clarity, condition, withdrawal/relisting history and final sale price where available. That should show whether 53 days represents real resistance or just a mismatched group of listings.