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REAL ESTATE 2020 | Market Demand Remains High During Phase 4 by Penny O'Brien, Realtor



VIRTUAL TOURS & FACETIME SHOWINGS CONSISTENT DURING PANDEMIC

As the country opens back up under Phase 4, so does Real Estate, even though it never really stopped. Homes that are under contract are near 2019 numbers. 4,566 homes in our MLS were under contract this time last year. According to Midwest Real Estate Data, there are currently 4,222 homes under contract. Supply remains low!


In 2019, we had 7,819 homes on the market versus the current 6,370. Low supply and historically low interest rates are creating pent up demand at all price levels. It's a great time to list your home! Good looking, updated homes in great condition are selling quickly and often in multiple offers.

While the real estate market is hot and on its way back to normal levels, the temporary slowdown in activity will result in a decline in home sales of as much as 14% for 2020 reports National Association of Realtors. Despite Covid and shelter at home, low inventory will cause home prices to increase 1.3% in 2020. May & early June are indicators that housing will be one of our nation's strong economic sectors. It is an excellent time to enter the housing market!


ABOUT PENNY O'BRIEN

BAIRD & WARNER – One word that consistently comes to clients’ minds when they think of Penny O’Brien is “hustle.” As a Seller Representative Specialist, she loves meeting with sellers to discuss pre-market home improvements and guide them to make their home “showtime ready” when it hits the market. She strongly believes in professional staging and offers it as a complimentary service. With a reputation for “good-looking listings,” she helps clients realize a higher return and quicker sale. Penny says “Staging transforms a home from average to amazing”. Penny O'Brien Broker, Relocation Specialist and

Negotiation Expert • (630) 207-7001 • penny.obrien@bairdwarner.com









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Latest Issue

Holiday Happy, Nov 2020

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Glance through the Pages

of Your Community Living Magazine Today! 

► November 2020 Issue

► DuPage Feature

► Kane Features

► Kendall Features

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