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February 17, 2021
Market Activity in the Chicagoland Area- February 15, 2021
Midwest Real Estate Data or MRED provides property information to the MLS. Although the area is quite expansive, the overall trends can help us identify how the market is performing in our local communities.
The number of new listings entering our market is down compared to last year this time. This has been true since the week of Dec 28, 2020. Since interest rates remain low, many buyers are eager to purchase larger homes that are now able to meet their needs due to Covid. Many families are looking for a home office, work space for their children, and outdoor areas.
The number of homes going under contract has been outperforming last year…
…and these home have been selling for more money! The lack of inventory is driving the prices of homes up as many sellers are receiving multiple offers on their home!
If you are thinking about making a move, now is a great time to weigh your options! Please reach out if you would like to know about market conditions in your neighborhood.
Beata Kolpek, 630-207-9909
Sara Kolpek, 630-306-4452
