June 2020 Market Update
HERE'S YOUR NORTHERN ILLINOIS JUNE MARKET UPDATE
We are seeing a surge of activity in the market as buyers and sellers are coming together and all of those showings I discussed last month are converting to sales.
McHenry County: We saw a 32% increase in homes sold in June over May, which is almost dead on to the market's performance in June of last year.
Lake County: We saw a 31% increase in homes sold in June compared to the previous month, but a 15% decrease compared to June 2019.
Cook County: We saw a 24% increase in homes sold in June compared to May and a 23.5% decrease compared to June 2019.
In many cases, we are seeing multiple offers on properties. Buyers are out looking and writing offers, but we need more inventory for them -- especially given all of the increased sales activity in June. We did see a dip in showing activity over the Fourth of July holiday, but showings are still up about 25% from this time last year.
If you have any questions on how this market impacts your individual situation specifically, let's talk!
Have a great day!