January 2024 Market Update
HERE'S YOUR NORTHERN ILLINOIS JANUARY 2024 MARKET UPDATE
McHenry County: We saw a 22% decrease in number of homes sold month over month, and a 23% increase compared to January 2023.
Lake County: We saw a 28% decrease in number of homes sold month over month, and a 2% increase compared to January 2023.
Cook County: We saw a 27.5% decrease in number of homes sold month over month, and a 1.7% decrease compared to January 2023.
Not to fret, the sales decrease from December to January is on par with historic data for our area. However, we are starting to experience what feels like the start of "spring market" already. Days on market is back down to approximately 17 median days for sold properties in McHenry and Lake County. We are seeing more buyers enter (or re-enter) the market now that rates are lower compared to the latter half of last year. For buyers, this means preparation is the name of your game in 2024. We need to meet earlier than you may think in order to prep our game plan for a successful purchase this year. And sellers, perfect pricing and condition are still going to be your best friends -- and appropriate planning continues to be imperative to a successful sale where you sell faster and for the most money. If you are planning to sell this year, we need to connect now to time out the process. Luckily, I'm only a text, phone call or email away!
*Data provided by MRED (Midwest Real Estate Data) MLS
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Decker Group | brokered by eXp Realty
Email: [email protected]
10 N Martingale Rd #400
Schaumburg, IL 60173