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Mixed Market Shows Signs of Slowing Down

by | Aug 21, 2021 | Chicagoland Real Estate Information

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?

3 homes, and a magnifying glass surrounded by questions

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.

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