Real Estate Market Update

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Real Estate Agent with The Freedom Group - Keller Williams Realty Infinity 471.009781

September 2020 Market Update

Plainfield 

Plainfield September Market UpdateIn September 2020, the average sales price for all single family property types (single family, townhouse, condo) increased to $302,301 from $295,100 in August. The number of homes for sale and market times continue to decline. The number of home closings declined for the first month since May 2020 (120 closings) from the high in August (247 closings). The market continues to favor sellers as buyers scramble to find a home and beat out other buyers with frequent multiple offer situations. This is reflected in a 99.7% sale price to last list price ratio, indicating sellers are getting more than the long term average (98.6% over prior 12 months) for their homes.

 

Chicago Primary Market Statistical areaThe Chicago Primary Market Statistical Area (Cook, DeKalb, DuPage, Grundy, Kane, Kendall, Lake, McHenry, and Will counties) saw prices decrease in September vs August ($351k average sale price). Market time has been consistently decreasing since a high of 108 days in February 2020. Listing inventory has been decreasing, while sales have been increasing, leading to a shortage of overall inventory. Months supply of inventory currently stands at 2.8 months, indicating a seller's market for most cities in the PMSA. 

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Steve serves the real estate needs of buyers and sellers in Shorewood, Plainfield, Joliet, Crest Hill, Romeoville, Bolingbrook, Oswego, Minooka, New Lenox, Aurora, Naperville and NW Will County.  Specializing in short sales, investment properties and first time home buyers, Steve attacks problems with a tenacious outside the box approach and keeps working where many others would have given up.   

To learn more visit steveroake.kw.com or download my mobile app. Specializing in Shorewood IL Real Estate, Plainfield IL Real Estate, Joliet IL Real Estate, Minooka IL Real Estate, Channahon IL Real Estate, New Lenox IL Real Estate, Oswego IL Real Estate, Bolingbrook, IL Real Estate, Romeoville IL Real Estate, Naperville IL Real Estate. Buyers can save between $1,000 and $5,000 by working with us! 

 

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