Dympna Fay-Hart
Serving Chicago Area Sellers & Buyers

(773) 230-3800

Send me a message

What's In Store for Spring's Housing Market in Chicago?

Every year the real estate market takes on a different tone.  Whether it’s a sellers’ market with inflated prices and bidding wars, or a buyers’ market with tons of choices and low prices, there’s no denying that the 2017 spring housing season is upon us.

So what does it have in store? Well, if you’re thinking of listing your home, that’s a very important question.

Here are some market insights that will give you a head start!

Right Now = A Great Time To Sell
Although overall the weather was not bad, the winter home selling season was crippled by the very low inventory of available homes to buy.  As a result, there’s pent-up demand from buyers who have been waiting for weeks or months for the right home to get listed. Buyers are poised to buy and ready to hit the streets.

Know Your Numbers: 60%
Approximately sixty percent of all homes in 2017 will likely be bought and sold from May to August. Putting your home on the market now, at the beginning of the Spring selling season, will help your chances of snagging a winning offer before buyers turn their attention back to school starting in September.

Price It Right
Many areas in Chicagoland, as well as many areas through the country, have seen double-digit price increases in the past year. Pricing is a critical component to getting your home sold, and the price should be set with very careful consideration. Your home should be compared to the sale prices of similar homes in your area that have sold within the past few months, and should be evaluated for plusses and minuses to come up with the best possible price to go to market.

Bidding Wars Are Back
Bidding wars are fairly common because of the low inventory of homes for sale.  If your home is located in a desirable area and priced on the money, then chances are that you may receive two or three offers at once. Although this may sound like a great problem to have, it can be stressful and must be handled with the utmost integrity.  Some unfortunate buyers are going to walk away empty handed, and it's important that they do not feel they have been mistreated.

It Pays To Be Ahead Of The Curve
Trying to get a jump on the competition? Right now we’re on the cusp of prime selling and buying season, and if you list soon, you’ll have less competition than you would if you put your house on the market in May or June, when more homes will enter the market. Since it’s still early, your home can have its ‘moment in the spotlight’ more than it will when inventory increases – and the buyers who have been waiting for weeks or months to find the right home are clearly motivated.

A Picture Is Worth A Thousand Words
A huge percentage of buyers start their home search online. Because of this fact, you must be sure your home pops on all those screens. Great homes with mediocre quality photos may be quickly discarded and ultimately get less showings. Sellers should insist that their agent take the time to beef up their online listing so the quality of the home jumps off the screen and gets buyers’ attention.

I have been representing Chicagoland sellers with award-winning service for over 20 years, and welcome the opportunity to help you achieve your goals.

Contact Me with your questions about selling your home.  Learn more about me and my seller services.