What’s the housing market like where you are?
Here it’s very competitive and most people can’t win a bid to purchase a home. Being out bid by tens of thousands of dollars. It’s crazy.
51-55, F
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SubstantialKick · 31-35, M
According to an article from ABC7 Chicago, selling your home over here is a lot easier than buying at the moment...
[quote]EVANSTON, Ill. (WLS) -- The housing market for the metro Chicago area is on fire if you're looking to sell, but that's creating challenges for those looking to buy.
Illinois Realtors" reported an 18% increase in sales in the nine county metro area in January and February over the same months in 2020, as well as a 15% increase in the median sales price, from $235,000 to $270,000.
Angie Jungwirth is moving from Wilmette to Northfield. Essentially an empty nester, the COVID pandemic has given her a new perspective on what life requires.
"We just realized we kind of need space," she said. "Our kids were coming home from college and from jobs to spend more time with us, and we just kind of didn't care as much about the location."
She's not alone. Those considerations, when added to record low interest rates and the fear of missing out in the Chicago region, have shrunk the inventory of homes for sale, observers said, to levels not seen since before the Great Recession.
"There's no inventory, and buyers are fighting to get in," said Sandy Sherwood of @Properties Evanston.
As they focus on functionality, Sherwood said buyers must be prepared for bidding wars virtually everywhere.
[/quote]
[quote]EVANSTON, Ill. (WLS) -- The housing market for the metro Chicago area is on fire if you're looking to sell, but that's creating challenges for those looking to buy.
Illinois Realtors" reported an 18% increase in sales in the nine county metro area in January and February over the same months in 2020, as well as a 15% increase in the median sales price, from $235,000 to $270,000.
Angie Jungwirth is moving from Wilmette to Northfield. Essentially an empty nester, the COVID pandemic has given her a new perspective on what life requires.
"We just realized we kind of need space," she said. "Our kids were coming home from college and from jobs to spend more time with us, and we just kind of didn't care as much about the location."
She's not alone. Those considerations, when added to record low interest rates and the fear of missing out in the Chicago region, have shrunk the inventory of homes for sale, observers said, to levels not seen since before the Great Recession.
"There's no inventory, and buyers are fighting to get in," said Sandy Sherwood of @Properties Evanston.
As they focus on functionality, Sherwood said buyers must be prepared for bidding wars virtually everywhere.
[/quote]