Last week a seller wanted to talk with me about taking over the listing for her 5 bedroom house in Irving Park. It’s been on the market a while and she’s looking for a Realtor to do better marketing. It’s a beautiful house and I could see numerous ways of improving the marketing, but I politely declined to meet with her. Her current asking price is well above what buyers will pay and banks will finance in her neighborhood. No amount of marketing can sell a home that is significantly overpriced.
Shown below is the price distribution of Irving Park houses with 5 bedrooms or more currently on market (red) vs. those that sold in the past year (green). There are 27 such houses for sale while only 24 sold in all of the past year. This is not a market where sellers can push their luck.