September 2022 Market Update

Posted by Jamie Decker on Monday, October 10, 2022 at 8:00 AM By Jamie Decker / October 10, 2022 Comment

HERE'S YOUR NORTHERN ILLINOIS SEPTEMBER 2022 MARKET UPDATE

McHenry County: We saw a 10% decrease in number of homes sold month over month, and a 19% decrease compared to September 2021.

Lake County: We saw a 19% decrease in number of homes sold month over month, and a 29% decrease compared to September 2021.

Cook County: We saw a 13.5% decrease in number of homes sold month over month, and a 22.5% decrease compared to September 2021.

The average sales price continues to be up between 3 - 12% over the three counties from September 2021. Inventory remains low, staying fairly steady month over month and hovering between 1.5 - 2.5 months supply across the three counties. Overall demand is lower as interest rates continue to tick up. Buyers - here is your chance to go against far less competition. Get that house you want without the crazy bidding war and re-fi later to get that monthly payment lowered. Sellers - price and condition are SO important in this market. Let's talk about the best game plan to get you top dollar in this market. And don't forget, I'm offering FREE green photos to capture your home's exterior now before winter hits! That way, we have them ready to go when you list this winter or spring.

If you have any questions, just let me know.

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