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Northwest Suburbs Real Estate - 2013 Update
Real Estate Market Update - Northwest Suburbs - December 2013 What a finish to 2013! This is the place to get those housing questions answered about the current real estate market in the Northwest Suburbs!
I'd like to report that 2013 sales have been up in our area in both housing types. The market improved consistently each and every month. 
Our local inventory level has continued to decrease and ended at overall low levels. With our inventory level near 2-4 months this should be considered a sellers market.  With these levels, buyers should be knocking each other down in the driveway to get into a listing but that hasn't been happening except in the lower price ranges below $150,000. Overall housing inventory is down from 2012 by 30%.
What about Prices?  Well, the national media is wrong about price increases pertaining to the Northwest Suburbs. Blanket statements just have no place in real estate. Everything in real estate is local and that includes talking about prices. Prices have increased during peak selling months of May thru August and then tapered off slightly towards the end of the year. Unfortunately prices are currently flat which you can see by the trend indicators in the chart.
I've ... more

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