How Does The November 2017 Market Look?
Typically sales continue at steady pace through Thanksgiving, then it slows down through February. Sales have continued as steady pace though not the huge amount of sales we experienced very early this year in January through the Spring market.
Is it a good time to buy or sell?
It depends on the market. Markets such as Lincoln Park, Lakeview, North Center, and Lincoln Square are experiences a huge drop in inventory, in some cases off 20% from last Fall’s inventory. As a result, the closed sales are down also though sold prices are strong. Many buyers faced with this reality have simply chosen to wait it out until next year. If you are looking for a home in this areas now, expect to see lots of competition in a final push before the holidays. You might find better deals and less competition as it really gets cold towards Christmas.
For sellers in these areas, it is a great time to sell and maybe move up to a second home. If your home is priced right and in good shape, it should move. If this your situation, give me a call. I now offer flat fee listings for as little as a $100 I will get your listing in all the top searches like the MLS, Redfin, and Zillow. Why pay a huge commission when your home will sell quick without an agent?
Lets talk about the West Loop, Wicker Park, Logan Square, Ukranian Village and West Town. Those areas are experiencing a surge in inventory largely due to new construction. Inventory of condos in West Loop, for example, is up 20% from this same time last year. So a great time to buy here and plenty of choices, though expect to pay a premium for these high demand areas along the hipster highway.