Here is the Chicagoland Housing Market update for September 2016... The market has remained steady for some time now and continues to be a "Sellers" market... there is currently only 4.1 months worth of inventory, meaning if there was not another home listed, it would take 4.1 months for all the current homes on the market to sell...
In the last month we have had 18,142 homes listed for sell and have had 12,071 homes sold. The average sales price is currently $286,586 for the entire Chicagoland area... and the average days a home is on the market before going under contract is currently 46 days...
If we analyze the last 6 months, prices have steadily increased, but this past month prices dipped a little from July... the good news for Home Sellers is there is a lot of demand for homes and now is a great time to sell if you are looking to get top dollar... For Buyers, yes there are less homes available for sell, however interest rates are as low as we have ever seen so you are able to get more house for your money currently than you have been able to in the past and probably than we will be able to in the future...
I will continue to keep you updated and if you need anything please feel free to call or text me at 773-851-7636 or email me at JohnCastelli@kw.com anytime. Thanks again and have a great day!
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