March 2023 Market Update

HERE'S YOUR NORTHERN ILLINOIS MARCH 2023 MARKET UPDATE

McHenry County: We saw a 46% increase in number of homes sold month over month, and a 23% decrease compared to March 2022.

Lake County: We saw a 33% increase in number of homes sold month over month, and a 20% decrease compared to March 2022.

Cook County: We saw a 57% increase in number of homes sold month over month, and a 27% decrease compared to March 2022.

Overall, we are seeing about a 20-25% decrease in sales compared to this time last year with its record-low rates. However, we are seeing a big bump in sales from last month. Rates are hovering at about 6.5%, which is an improvement. We will likely see more buyers emerging as we are now officially in spring-mode and hoping to see more inventory come to market as spring break ends in our area and everyone now has their sights set on summer! I monitor the market DAILY so if you have any questions, just let me know.

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

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Decker Group | brokered by eXp Realty
Phone: 815-353-0343
Email: [email protected]
https://www.dealwithdecker.com/​​
10 N Martingale Rd #400
Schaumburg, IL 60173