October 2020 Market Update
HERE'S YOUR NORTHERN ILLINOIS OCTOBER 2020 MARKET UPDATE
McHenry County: Home sales month over month were virtually flat, with only about a 1.5% decrease from September. However, we experienced a 37% increase compared to October of 2019.
Lake County: As in McHenry County, home sales month over month were pretty flat, with about a 1% decrease from September. But, home sales about doubled in October of this year compared to October of last year.
Cook County: As in McHenry & Lake County, home sales month over month were flat, with about a .5% decrease from September. That said, October saw a 30% increase in homes sold compared to October 2019.
We are continuing to see a very strong market here in Northern Illinois! Sales are drastically outpacing 2019. However, we are continuing to see an inventory shortage -- especially as we near the end of the year. If you've had any thoughts of selling, now is the time. Buyers, you might find it advantageous to look for homes over the next few months as you may find you are up against less competition around the holiday season.