July 2021 Market Update

HERE'S YOUR NORTHERN ILLINOIS JULY 2021 MARKET UPDATE

McHenry County: We saw a 7% decrease in homes sold month over month, and a 6% decrease compared to July of last year.

Lake County: We saw about a 15% decrease in homes sold month over month, and a 3% increase compared to July of last year.

Cook County: We saw about a 12% decrease in homes sold month over month, and an 8% increase compared to July of last year.

Across all counties, we are seeing a slight increase in new listings and months supply. Number of showings per listing is also decreasing. This is likely a combination of slight increasing inventory and less buyers out as compared to earlier this year. That said, we are still in a sellers market with less than 1.5 months supply in McHenry County, less than 2 months in Lake County and less than 2.5 months in Cook County. Sellers, you'll want to take advantage of this market while things remain in your favor. And buyers, we're seeing competition for you so get out there and find your new home!

If you have any questions about buying or selling today, just let me know.