Schaumburg Real Estate Market for February 2019
With the spring market beginning, which months will have the most sales?
In 2018 the best months to go under contract were March, April & May. They had the most activity.
When does the 'spring market' begin?
February 15th was the lucky day. Yes, pop your eyes back into your head at the early time. Because .... if you were a buyer you would look approximately 30 days, then another 60 days to close equaling 90 which is springtime on my calendar!
How long to sell again Lyn?
It depends. It really does depend on you .... if you get your home ready for sale by staging it. It depends .... if you price your home right, it should sell right away. If you don't do those marketing basics the average is 95 days for February.
So how are the selling prices doing?
Remember that every subdivision and town is responding differently if and 'when' a home in the area goes on the market. Sellers are now pretty happy with prices or have decided that now is a good time to move. What about you? Prices increased slightly overall.
Sellers or Buyers Market?
Still a sellers market but the total sales are EVEN (same) from 2018. Inventory has been steady over the last 2 months.
If your home is currently on the market for 30 days or more, buyers have given you feedback on your condition, 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 that price. Buyers want the house with the least amount of work! I see & hear it every time I show property. Your particular subdivision will have it's own unique number.
For buyers, this is the perfect time to look for a home. Inventory is good & prices have not increased like will happen in the future spring market. Still, agents & pundits are saying that the market is slow. So far, nothing is pointing that the market is going anywhere south. Possibly what might be true is that some inventory might not be what buyers want or expect.