Real Estate Market Update - Northwest Suburbs near the Schaumburg Area - August 2017
This is the place to get all your real estate questions answered!
What are Prices Doing? Average sales prices are increasing every month and across the board. Every subdivision is responding differently if and 'when' a home in the area goes on the market. I would say that sellers are now pretty happy with prices or have decided that now is a good time to move.
With our decreased amount of inventory for August we are still in a sellers market based on past statistics. Inventory has decreased between 20% to 30% from 2016 depending on which town you live in. With this low inventory the market has turned toward a sellers market with price increases on the horizon.
Homes going under contract have slowed for August. Is this signaling a slow down for the year? Where did all the buyers go?
If your home is currently on the market for 30 days or more, buyers are giving you feedback on your condition, your price, or your location. With inventory this low there is no reason not to get an offer but buyers are not going to pay your price if you've got too much work or deferred maintenance. They will gravitate towards another home with a better price or more updates for the price.
Look for an agent that can connect the dots.
Look for an agent that knows the market.
Contact me with all your important questions on your neighborhood and market details so you can make an informed decision.
Hey, want your home to sell faster? Let my experience help guide you along the way.
July 2017 Report