Summer is so close, you can taste the lemonade already! Our Chicagoland market continues to be hot and the question we get most right now (besides, “Do you have any new listings”…which we do), is if the housing market is too hot. We look into that question below and share our new and coming soon listings, fun things happening this month, and more. Let’s get started…
June 7, 2021: We saw the median sales price hit a new high of $310,000, which is good news for buyers and sellers because it continues to show our market is active. We have even more to share about our local market and are happy to talk with you about your goals. Questions? Call us…we have answers!
Don’t forget to download our app where you’ll find a Guide about the Home Selling process so when you’re ready, we can get you moving in the right direction.
According to the National Association of Realtors, the housing supply continues to fall short of demand. This supply/demand combination has resulted in increased sales prices and a decrease in time on the market for most areas.
That’s good news for sellers and frustrating news for buyers. Many of our first-time homebuyers are being beaten to the table by those with large down-payments, all-cash offers, or other favorable terms.
Still, our team works hard for our buyer clients so they can get into a great home and take advantage of continued historically low interest rates. We are proactive and constantly aware of what’s going on in our market so you can win!
For our sellers, the ball is in your court! We often receive multiple offers, especially at the most popular price points.
There are three things we advise our sellers when receiving more than one offer:
Compare apples to apples. Jot down the primary points of each offer to see the merits of each one. A spreadsheet works well for this process.
Contingencies. Some buyers make no contingencies; others do. Understand what they are and how they might affect the closing of the transaction.
Payment method. Cash is king because the buyer controls how quickly the money is available and can waive inspections or appraisals. However, that doesn’t mean a loan is bad. Some lenders are better than others, and a local lender may make the whole process easier. Our team works with all types of contingencies and will advise you about what to be aware of.
How long will this current real estate cycle last? We don’t have a crystal ball; however, we closely watch statistics and trends. For now, limited supply and low interest rates continue to drive the market.
To find out what this means for you, call us at 708-629-5151. We can help you decide if now is the best time for your buy or sell.
10721 Landing Drive, Orland Park, IL
You’re the first to know! This 4 bedroom, 3.5 bath, 2-story home with a partially finished basement will be ready soon. If you would like more information, please call use! $465,000
2035 Collett Lane, Flossmoor, IL
Sneak Peek! 4 bed, 2 bath updated split (quad) with sub in Flossmoor Park. Remodeled in 2016. Excellent updated condition. 2,800 of finished sq/ft. Hardwood. Upgraded kitchen and baths. $299,000
The Wexler Group at Keller Williams Preferred Realty is thrilled about working with NAWS Humane Society of Illinois to accomplish our mission of helping to rescue one pet for every home we sell. We are Realtors who rescue dogs and cats from unjust situations and could not think of a better company to team up with.
NAWS rescues dogs and cats from high-kill facilities that are likely to be put down. This means they take in very young puppies and kittens, terminally ill and senior pets, and other animals in difficult situations such as heartworm positive dogs. NAWS aims to end pet homelessness and unnecessary pet euthanasia, focusing specifically on providing low cost spay and neuter services to prevent litters that would not get the proper care they deserve..
The Wexler Group is very passionate about this organization, along with all the other great charities we work with. Every person that buys or sells a home with The Wexler Group will have the option, at our expense, to welcome a rescue dog to their home or we’ll make a donation to NAWS in your name. If you would like more information about NAWS or the work we do for our community, please feel free to contact our team at any time!