For Buyers: Affording Your Home
My goal as an Accredited Buyer’s Representative (ABR®), is to help you find and purchase the home of your dreams, and your goal as a buyer is to make sure you can afford it. Preparing for a home purchase is just as important as the signing the closing papers. Prepare yourself the best you can and please let me know if you have any questions. I look forward to working with you.
Welcome to the premier resource for all real estate information and services in the Metro Chicago and South suburban Cook and Will county areas. I hope you enjoy your visit and explore everything my realty website has to offer, including information for homebuyers and sellers from your favorite Chicagoland Real Estate Professional.
Looking for a new home? Use Quick Search or Map Search to browse an up-to-date database list of all available properties in the area, or use my Dream Home Finder form and I'll conduct a personalized search for you.
Local Area Market Outlook - Monthly Indicator (August 2016)
Closed sales began to cool for much of the country last month, and conventional wisdom indicates that year-over-year declines are going to be present for the remainder of the year, given the low inventory situation in most markets. Demand is certainly present and has created competitive situations that have kept prices up. Rental prices are also up, which may lure more toward homeownership.
New Listings in North, South and West Suburban Chicagoland decreased 2.9 percent to 7,206. Listings Under Contract were up 12.3 percent to 4,743. Inventory levels fell 17.9 percent to 17,672 units.
Prices continued to gain traction. The Median Sales Price increased 6.6 percent to $213,250. Market Times were down 7.3 percent to 79 days. Sellers were encouraged as Months Supply of Inventory was down 23.3 percent to 4.2 months.
As inventory continues to drop, the contradictions of today's market are evident. Sellers should feel confident enough to list homes at fair prices and receive meaningful offers in a healthy residential real estate and overall economic environment. However, there may be lingering worry over the availability of movein ready homes to replace what was sold. On a brighter note, building permits are trending upward. That news should be weighed against the fact that the highest level of activity is in multifamily rentals.
SOURCE: MREDLLC FASTSTATS
Spotlight Oak Forest
Celebrity Real Estate
House of the Week
Top 5 Busiest South Suburban Markets in August 2016
Single Family Homes
Click to see the South Suburb's Top Closings in August 2016