Northwest Suburbs Real Estate Market Update - December 2014

By
Real Estate Agent with RE/MAX Suburban
https://activerain.com/droplet/4tTF

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

Our Northwest Suburban inventory level has increased slowly every month without fail. You've got slightly more competition now than earlier this year so be sure to price your home accordingly. We are still in a 'balanced market' but competition will become more relevant over the next few months.

northwest suburbsnorthwest suburbs

 

And those Prices?  Prices have virtually stayed flat for December but increased 1% overall from 2013. The indicators are showing that the prices will continue to increase but only marginally. Our market is considered balanced but my opinion is that we have too much inventory currently for price increases. This is opposite certain parts of the country where they have had constant increases.

Average Days on the Market tells homeowners how long it's going to take to sell their home! This has varied each month and is also considered balanced for 2014. Each market area is selling differently. If your home is currently on the market for over 90 days though, buyers are telling you to change your price or change your condition. Market time is down 29% from 2013 which is a distinct improvement.

It's Confirmed - We've been improving but overall sales have now stalled. There is much talk about first time buyers not coming into the market which has caused this slowdown. Others have disagreed saying the problem is with financing's harsher standards and the inability for buyers to get their downpayments. And some are blaming the cold weather (like me).

All markets are now officially behind 2013 sales totals.



northwest suburbsLooking for an agent that's knows the market?  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.


November 2014 Report
Sources:  MRED December Stats 2014

Posted by

 

lyn sims remax suburban  Lyn Sims    Schaumburg IL Area    Northwest Chicago Suburbs  ●  (847)230-7324
 
 
©2007-2021
close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
Illinois Cook County
Groups:
Market Reports
Local Real Estate Market Reports
HyperLocal Neighborhood and Community Posts
Tags:
northwest suburbs

Spam prevention
Show All Comments
Rainmaker
3,238,207
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Lyn - Thanks for the information on Northwest suburbs real estate market update for December 2014.

Jan 11, 2015 12:02 AM #1
Rainmaker
509,386
Shar Sitter
Rooms With Style - Minneapolis, MN
Home Staging and Redesign Minneapolis/ St. Paul, M

Great report for buyers and sellers in SW Chicago. 

Jan 11, 2015 03:32 AM #2
Rainmaker
1,571,322
David Saks
(retired) - Memphis, TN

Fine post and plenty of great information. Have a great day ahead.

Jan 11, 2015 05:16 PM #3
Rainmaker
1,304,874
Jon Kolsky
Kolsky Realty & Management - Long Beach, CA
Licensed California Real Estate Broker

Lyn Sims ~ buyers and sellers in your area should love this market snap shot

Jan 12, 2015 12:41 AM #4
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
1,675,620

Lyn Sims

Schaumburg Real Estate
Need help with Schaumburg Area Real Estate?
*
*
*
*

Additional Information