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Northwest Suburbs Real Estate Market Update - May 2014

This is the place to get those Northwest Suburban real estate questions answered!northwest suburbs

Our Northwest Suburban inventory level has increased significantly again in May. This would be worrisome but homes are going under contract so no concerns over a short glut in inventory. Price your Northwest Suburban home well, make sure it shines with staging and you will be rewarded with an offer. This sudden increased inventory has more sellers vying for the eyes of the same buyers. 

What about Prices?  Prices are currently flat from month to month but have increased over 2013. All real estate is local so each different neighborhood and town is reacting differently to the market. Some neighborhoods still have not had any sales since reaching market bottom. Can't have any prices increases if there are no listings to sell!

Average Days on the Market tells homeowners how long it's going to take to sell their home! Each market area is different but it's still puzzling that we have low inventory levels but prices haven't really risen. It's that basic principle of supply and demand but it hasn't worked to sellers advantage. If your home is currently on the market for over 90 days, buyers are definitely giving you feedback - change your price or change your condition!

northwest suburbs 

northwest suburbs



northwest suburbsLooking for an agent that's a true market expert?  Let's get your Northwest Suburban home on the market and priced right to sell!  I can zero in to your specific area and give you the current market details so you can make an informed decision and help your home sell faster. My experience plays an important role.

If your home is currently on the market, is your agent showing you any of this information?  I'm one of those unique people that will tell you how the market really is explaining the good with the bad.

Looking for a home in the area? Please give me a call or email me to talk about the possibilities. You will need current market strategies to get you into that new home.


Sources:  MRED May Stats 2014 

 

 

Lyn Sims    Schaumburg IL Area    Northwest Chicago Suburbs  ●  (847)230-7324

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3 commentsLyn Sims • June 13 2014 12:52PM
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