It might be the mild weather or the uncertainty with mortgage interest rates that have brought out the buyers earlier and quickly make decisions. I am sure someone with more insight into the numbers will come out with a more detailed analysis of the why - but no matter the reason the numberts speak for themselves in our part of the western suburbs of Chicago. Oswego, IL has low inventory, low DOM and already 5 pending transactions for April, 2017
In March, 2017 the amount of Days on the Market for single family detached listings went down 18.2% from 2016. In 2016 listings were taking an average of 103 days to sell and in 2017 that number is down to 84 days! In 2016 there were 42 closed transactions compared to 32* in March, 2017.
With only 92 listings available for sale - inventories are down to only 1.4 months in March, 2017. Here is the breakdown on what happened in March, 2017.
Active - 74
New - 12
Price Change - 6
Total - 92
Under Contract/Contingent - 107
Pending - 5
Closed - 45*
*Final closed transactions accurate since Wednesday, 4/5/2017 closings.
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