May 2021 Market Update

HERE'S YOUR NORTHERN ILLINOIS MAY 2021 MARKET UPDATE

McHenry County: We saw a 6% increase in homes sold month over month, and a 23% increase compared to May of last year. New listings increased from April by about 10%.

Lake County: We saw about a 11% increase in homes sold month over month, and a 67% increase compared to May of last year. New listings stayed pretty steady, with a slight 2% decrease.

Cook County: We saw about a 1.3% increase in homes sold month over month, and an 80% increase compared to May of last year. New listings decreased from April by about 5%.

We are still seeing a strong seller's market, but more inventory is finally making its appearance most likely due to school being out, Covid restrictions lifting and homeowners seeing strong selling activity in their neighborhood. Buyers, more inventory is coming which (hopefully) means more choices and opportunities for you. Sellers, now is the time to list before more competition emerges.

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