Wednesday, October 17, 2012

One Market Statistic You Don't Want to Overlook!

Last week, we were able to take a look at market stats across the North Shore.  From Winnetka, Highland Park and Northbrook to Glencoe and Deerfield; the blogs helped to give you an idea of the current housing market, which is vital if you’re hoping to buy or sell this fall or winter.

As a North Shore Real Estate agent, my goal is to provide you with the most up to date statistics and advice that will help you navigate through the North Shore Real Estate market with ease!  I know that buying or selling a home can come with a list of expectations, and providing you with the current statistics will guide you to appropriate ideas of what you’ll be spending on a home or at what price current homes in the North Shore are selling. 

One of the major factors in determining the current market, however, is often overlooked!  Little is said about the average days the home stays on the market and this can be a true indication of how the market is fairing.  

Recently, an article David Siroty of Coldwell Banker, pointed out a statement made by Smithtown, NY Coldwell Banker Real Estate agent, Ronni Tranes.  She noted, “The time on market stat is important since it does show what types of homes, both in price and style, are in demand.  Buyers get a sense that homes are selling, things are improving and they shouldn’t wait to time the market.  And sellers obviously gain a greater understanding that buyers are out there and they can put their homes on the market and find success.”

Being better acquainted with current stats on how long homes are typically on the North Shore market will help you gauge how quickly you need to move when buying, or how long it will take to get your home sold.  We know that the average days on the market is decreasing, meaning the market is picking up and improving!  In fact, The National Association of Realtors just reported that that the median time to sell homes in the U.S. had dropped nearly 30% from a year ago from 98 to 69 days.

Interested in learning more about the average days on market for North Shore homes?  Check out my market statistics blogs from last week to view your area!  

If you have further questions about the current North Shore Real Estate market, or about buying or selling a North Shore home; please contact me!  I would be happy to talk with you more and discuss your real estate needs.

I look forward to hearing from you!

Janie Bress
Your North Shore Real Estate Expert

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