Mixed Market Shows Signs of Slowing Down
The July 2021 Chicago area market stats are in and we might be on the cusp of a slowdown. In Lincoln Park, sales are up 135% from last June 2020 while inventory down 15%. In lakeview, sales are up 114%, while inventory is up 8.1%
The market is still up, but could we be slowing down soon?
While sales remain up year over year, we’re starting to see inventory slow down in some neighborhoods and suburbs. Lincoln Park showed a decrease in new listings by 10%
This might be one of the last great times to buy this year while inventory remains strong. We could start to see a return to fewer homes on the market. Buyers should be active in their search for sure, but the situation is different from one neighborhood to the next.