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Real Estate Market Report - Northwest Suburbs - December 2016
Real Estate Market Update - Northwest Suburbs - December 2016

Let's jump into some real estate numbers!

What are Prices Doing?  Average sales prices are relatively stagnant compared to other areas of the country. Remember when you hear the talking heads on the evening news they are talking nationally - you should only be concerned with local prices.

Average Days on the Market pretty much stayed the same into December as graph illustrates.

With our decreased amount of inventory for December we are bouncing between a sellers market & buyers market for certain property types or price ranges.  Inventory has decreased 27% from 2015 and months of inventory has decreased to 4 months. Very unusual for the winter months.

And Interest Rates?   They are inching upwards so buyers had better get a plan to get that home soon. Every 1/4% that the interest rate increases that obviously lowers a buyers purchasing power. This is a great time to take advantage of these rates by moving up or buying that first home.  There are many great down payment assistance programs available that I can get you through my valued mortgage partners. Check them out or pass this along and share ... more

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