Low inventory is the current cry as the spring market starts off despite the snow, ice and below zero temps here in Illinois' western suburbs. The current inventory for IL's 2nd city is as follows:
Total Available Single Family Homes: 60
New Listings - 25
Reactivated - 4
Price Change - 1
Active - 30
Under Contract - Single Family - 170
Pending - 24
Closed - January 2021 - 91 January 2020 - 71
With almost 3 x the homes under contract as available, the buyer in today's home buying journey has to be ready to make a quick offer on a home if they are serious. Buyer's be prepared to see more multi-offer scenarios than in past years.
Sales vs 2020 are at a higher rate in January. Whether that trend continues with the low inventory levels remains to be seen.
With Aurora, still one of the few cities with affordable homes and a wide housing stock from new construction to Victorian era homes, buyers can usually find a home that is within their budget and makes their heart jump when they fall in love with it.
Total Available Attached Single Family Homes: 45
New - 8
Reactivated - 4
Price Change - 1
Active - 32
Under Contract - Single Family Attached - 78
Pending - 17
Closed - January 2021 - 47 January 2020 - 41
Townhomes, condo's and duplexes are sometimes choices for 1st time home owners that are not sure about transitioning from being renters all their lives to being totally responsible for a single family home - they provide the best of both worlds. You have your own home but many times a lot of the outside maintenance is taken care of so you don't have to worry about snow shoveling, cutting grass and taking care of the outside of the home. You do pay a price for these type of amenities but if your lifestyle currently doesn't allow you the time to do the full homeowner duties, this is a great way to start paying yourself instead of continuing to make your landlord rich.
If you are ready to take the next step - contact me and let's start your journey to home ownership!
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