Real Estate Market Update - Northwest Suburbs - June 2014
This is the place to get those Northwest Suburban real estate questions answered!
Our Northwest Suburban inventory level has increased moderately in June. This would be worrisome but homes are going under contract so no concerns over a short glut in inventory. So much for the 'spring' market! Price your Northwest Suburban home well, make sure it shines with staging and you will be rewarded with an offer.
What about Prices? Prices have increased from May and increased overall from 2013. All real estate is local so each different neighborhood and town is reacting differently to the market. Some subdivisions 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 are painstakingly slow to increase. 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!
Things looking good! All average prices are up and market times are down from last month.
Looking for an agent that's a true market expert? 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. 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 June Stats 2014
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