NO SLOWDOWN IN SIGHT FOR FOR THE HOUSING MARKET THIS YEAR
The housing market continues to be on fire for sellers! Because of Covid-19, the beginning of the school year is not drawing a line sand for a slowdown in the housing market this year. There is no slowdown in sight! Every week since the last week in June, homes going under contract have exceeded 2019's numbers by a 50% increase! Simply Amazing. Weekend 7/27, our Northern Illinois MLS had a whopping 67% increase! Woo hoo! Get that house on the market!
For the last 7 weeks, week ending 8/10, the number of new listings is dead even with 2019. If no increase in new listings, but 60% increase of homes selling - we are experiencing a huge shortage of inventory creating a utopia for seller's listing their homes! An updated home, priced right will fly off the shelf, often in multiple offers. List your home yesterday! There might not be a better market for sellers for a long time.
On the flip side, buyers are going crazy trying to buy with these ridiculously, historically low interest rates. Even though they may be paying over list price in a multiple offer, they are saving big bucks! Contact your local savvy real estate agent to strategize how to win that home in a multiple offer!
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 • email@example.com