REAL ESTATE 2020 | Seller’s Market is on Fire! by Penny O'Brien, Realtor

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 • penny.obrien@bairdwarner.com