February 2021 Market Update

HERE'S YOUR NORTHERN ILLINOIS FEBRUARY 2021 MARKET UPDATE

McHenry County: We saw a 4% decrease in homes sold month over month, but a 9.5% increase compared to February of last year. New listings increased slightly from January, up about 2%.

Lake County: We saw about a 5% increase in homes sold month over month, and a 25% increase compared to February of last year. New listings increased slightly from January, up about 7%.

Cook County: We saw about a 2% decrease in homes sold month over month, but a 14% increase compared to February of last year. New listings decreased slightly from January, down about 5%.

Spring weather is knocking on our door here in Northern Illinois! While we have been saying we are lacking inventory, that is somewhat misleading. We are getting more inventory to the market, but buyer demand is eating up that inventory quickly. Months supply shrunk even more in February to just 2.1 in Cook County, 1.2 in Lake County and only 0.8 in McHenry County!

Sellers -- now is the time to list! And buyers, it's so important to work with an aggressive & creative agent to help you win!

*Data provided by MRED (Midwest Real Estate Data) MLS