What are Prices Doing? Average sales price ($201,000) an decrease of 12% from March 2018. Remember that every Streamwood subdivision is responding & recovering differently. That means "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. How about you? Are you thinking of moving?
With our overall amount of inventory we are still in a sellers market. Inventory has actually decreased from 2018 significantly (38%). This says get your home on the market!
Homes actually closing is down from 2018 by 28%.
Homes going under contract have increased over 2018 by 2.5%. Market time for homes going under contract is 41 days. This is definitely confusing isn't it? Low inventory but yet houses are languishing on the market for that amount of time?
Home prices averaged 99.8% of list in March. This number is telling you that buyers are going to buy RIGHT NOW.
Buyers have given you feedback on your condition, your price, or your location if your Streamwood home is on the market over 30 days. 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 more updates for that price. The home with the most updates wins with an offer.
Forecasters hope that the lowering of interest rates will spur sluggish/lackluster sales along. They did it at a good time of the year when the most purchases will usually be done.
Contact me for questions on your neighborhood and the most current Streamwood market details so you can make an informed decision. I'd love to start working with you.