The Current State of Our Market

We’ve been hearing for so long now that it’s a hot seller’s market, but if you’re in the industry, you likely felt the change around mid-May or at least the end of the month. I spoke with an appraiser the other day, and they felt the change too. If your home wasn’t on the market by May, you may have missed the peak, but that doesn’t mean it’s all over; it just means the intensity is slowing down some. Buyers are getting a bit more time to think, they aren’t having to make split-second decisions, and they aren’t competing with as many other buyers as they were.

Nationally, our median price is currently $350,000, but in the Chicagoland area and a little south of that, it’s $262,500. A lot is going on in our market; it’s still a wonderful time to jump into it. We likely have another month before the market changes again because we’re moving toward having the more typical market that we saw before the pandemic. 

If you have questions about our market or would like to know the median price in your area or town, I’d be glad to help you. Give me a call or send an email. I’d love to be your real estate resource.