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What 20 Years in Chicago's Top 1% Taught Me About Pricing Homes (That Most Agents Get Wrong)

Real Estate Broker in Chicago, IL
December 25, 2025•3 min read

What 20 Years in Chicago's Top 1% Taught Me About Pricing Homes That Most Agents Get Wrong

Selling a home in Chicago, IL, isn’t just about listing it and waiting for offers. After two decades among Chicago’s top one percent of real estate agents, I’ve learned that pricing your home correctly is the single most important step in the sales process—and it’s also where many agents make mistakes.

If you’re selling your Chicago home and want to maximize your return while avoiding common pitfalls, these lessons from top agents can make all the difference.

The Reality of Chicago’s Market
Chicago in 2025 remains vibrant, with diverse neighborhoods—from Lincoln Park’s historic streets to Bronzeville’s bustling energy. The median home price hovers around $350,000, though it varies widely by location, condition, and recent sales.

Chicago’s housing market is dynamic, so understanding local data and neighborhood nuances is essential. Overpricing can stagnate your listing, while underpricing may leave money on the table. The key is finding the sweet spot.

Lesson One: Price Your Home Based on Neighborhood Data
One major mistake agents make is relying solely on broad market trends. Neighborhood-specific data is crucial.

For example:

  • Wicker Park homes turn over at around $850,000.

  • Archer Heights homes see median sales near $300,000.

Pricing too high risks your listing sitting on the market for months; pricing correctly helps it sell faster and closer to asking. Consider local factors like schools, transit access, and amenities to set a competitive, realistic price.

Lesson Two: Avoid Testing the Market with an Overprice
Some sellers list high initially, thinking it signals value. In reality, overpriced listings often sit unsold, forcing price reductions that may signal desperation.

If your house is priced 10–15% above comparable sales, expect it to linger. Buyers check recent sales and will move on to better-valued properties. Overpricing remains one of the top mistakes Chicago sellers make.

Lesson Three: Set a Smart, Market-Aligned Price from the Outset
Instead of testing the market, aim for a competitive price from day one. Analyze recent neighborhood sales—ideally within the last 90 days—to see what buyers will pay.

Example: If comparable homes sell for $420,000–$440,000, listing at $445,000 can attract buyers while signaling confidence in the property’s value.

Lesson Four: The Power of Pricing Strategically in a Competitive Chicago Market
Competitive neighborhoods often receive multiple offers. Pricing slightly below market value—2–3% under comps—can create bidding wars, driving the final sale price above asking.

Example: In Lakeview, a listing priced just under comps generated multiple offers within a week, resulting in a quick sale and a maximized final price.

Lesson Five: Use Your Agent's Expertise and Data Tools
Online valuation tools can be helpful, but they often miss neighborhood-specific factors like school ratings, upcoming developments, or transit improvements.

Top agents like Sohail Salahuddin use MLS data, local trends, and insider knowledge to price homes accurately. Without this deep dive, you risk over- or under-pricing your property.

Final Thoughts: Pricing Isn’t Just an Art—It’s a Science
First impressions matter. Proper pricing combines local market understanding, recent sales analysis, and strategic positioning.

Successful Chicago sellers rely on top agent insights, accurate data, and realistic expectations to sell at fair-market value quickly.

Ready to Price Your Chicago Home Correctly?
Reach out to Sohail Salahuddin for expert guidance rooted in 20 years of experience with Chicago’s top 1% of agents.

Contact Sohail Salahuddin

Serving Chicago, IL

Chicago top 1% real estate Home pricing tips Chicago Real estate agent mistakes
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Sohail Salahuddin

When navigating real estate, you need a trusted advisor who understands every aspect of the industry. From smart investing to strategic selling and seamless financing. That’s exactly what Sohail delivers. Starting his real estate journey at just 20 years old, Sohail purchased his first home while earning a degree in Network Engineering. He quickly expanded into multi-unit properties, gaining firsthand experience in what makes a solid investment. His deep understanding of real estate financing led him to build and operate a successful mortgage company, equipping him with the insights to help clients secure the best possible terms. Beyond financing, Sohail’s expertise extends to property development, from building new homes to flipping properties and managing large condo conversions. Whether you’re a buyer, seller, or investor, he brings a well-rounded perspective to every transaction—helping you make informed decisions, maximize returns, and avoid costly pitfalls. As the founder of his own brokerage, Sohail is committed to simplifying the real estate process for his clients. He takes the time to understand your unique goals and crafts a personalized strategy to help you achieve them. With a strong focus on education, transparency, and negotiation, he ensures that every client moves forward with confidence—whether buying their first home, selling for top dollar, or scaling an investment portfolio. With Sohail, you don’t just get an agent—you get a dedicated advocate who puts your success first.

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