The Superbowl of residential real estate is about to kickoff. As we cheer the Bears next Sunday, the local real estate market will be preparing for the proverbial commencement of the spring market. Last year saw a large number of homes hit the market on the Monday following Superbowl Sunday. Interestingly, some villages (Northbrook & Glenview) have already seen a fairly large number of properties offered for sale in recent weeks. Other towns (Wilmette & Winnetka) have had very little new inventory over the last few months. Several questions remain to be answered in the coming weeks. They include:
· Will sellers continue to insist that their asking prices remain high?
· Will buyers feel more motivated to “pull the trigger” rather than sitting on the sidelines…waiting to make their move?
· Will the market find a level of equilibrium where neither buyers nor sellers have the upper hand?
As was mentioned in the previous post, some local markets have seen exceptional activity so far in 2007. Is this a prelude to the spring market? Stay tuned. By the way…Go Bears!
Sunday, January 28, 2007
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- North Shore Home Advisors
- North Shore suburbs, Chicago, Illinois, United States
- We are The North Shore Home Advisors. Our goal is to help lead you through the maze of villages called the North Shore in an attempt to help you to make an educated decision regarding which of these villages best fits your needs. We will provide you with general information, resources,and guidance. We will discuss pre-school options, school districts, park district facilities, and places to have fun, eat and shop. We'll share insights regarding each of these villages. We are five experienced real estate professionals who have all lived in these towns for many years. We will discuss local real estate trends and their effect on pricing and inventories. Most important,we will be soliciting questions, comments and feedback from you. This will be a forum for exchanging thoughts and ideas. Please join us as we help you make your way through this exciting transition from city to suburban living. We can provide a great deal of value for you.
1 comment:
I believe that this spring will be more fruitful for buyers and sellers than last spring's r.e. market. We have watched prices decline over the past year and are now planning a move during the spring/summer time frame. We will probably get less for our current home than we would have a year ago, but we will most likely pay less for our new home once we do move to the North Shore.
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