Chicago North Suburban real estate update (November 2011)

As of November 2011, homes sales in Chicago’s North Suburbs are trending up compared to prior year.

Though sales are down 8% compared to prior month — reflective of the slower fall/winter season — sales improved 14% compared to last November.

Therefore, the overall trend line is still on an upward glide path, nice news for weary homesellers.

It appears as if more buyers are shrugging off the bad economy and accepting homeownership as a wise investment.

Is confidence in the air? Are buyers getting ready to jump back into the market with both feet? Do they believe the worst is over?

I don’t know the answer to these questions, but it looks as though confidence is building.

Inventory of homes is down

As you can see, the number of homes for sale in Chicago’s North Suburbs has been steadily decreasing since June.

Falling inventory is another good sign that the market may be on its way to recovery.

With fewer homes on the market, homebuyers must compete for the more desirable homes. Low inventory pushes home prices up.

Things are looking up

Whether these positive signs will hold remains to be seen. But as they say, Don’t look a gift horse in the mouth.

Happy selling!

It’s Judy … your North Shore real estate agent.

* * * * * *

When you’re ready to buy or sell, don't leave the choice of your real estate agent up to chance. Make sure you partner with a Chicagoland neighborhood expert who can get the job done to your satisfaction.

We’re connected with a network of top real estate agents throughout the Chicago Metro area as well as nationwide. We do the research so you can ‘move on’ with your life.

Our services are absolutely FREE and come with no obligations on your part.

Reach out to us at 847.859.9197 ... then ‘move’ confidently forward.

 

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Judy Chapman

Chicago, IL

More about me…

Referral Network of Illinois LLC

Address: 4709 Golf Road, Suite 1100, Skokie, IL, 60076

Office Phone: (847) 859-9197

Email Me

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DISCLAIMER STATEMENT: All data and statistics provided on this blog is for informational and educational purposes. The blogger strives to present verifiable facts, statements, and statistics, but cannot guarantee accuracy.

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