Wednesday, October 14, 2015

Next 3 Months Best Time to Buy and Sell Homes on Chicago's North Shore

The real estate market has offered a favorable climate for new homebuyers in terms of low mortgage rates for most of the year— but it will soon get even better! According to's Chief Economist, the next three months could be the best time to buy due to low rates, declining home prices and properties that are sitting on the market longer than usual.

The summer, while known as the "busy season" of North Shore real estate, had little inventory to offer buyers in addition to rising prices. In fact, what some may not realize is that there is quite an advantage to making a move this time of year in the real estate market. Homebuyers in Winnetka, Glencoe, Deerfield, Highland Park and Northbrook who are willing to buy during the fall and winter months will be met with lower prices and less competition.

And while buyers on the North Shore will still have a lower number of homes to choose from this fall—with inventory behind last year's mark—they may actually find time (and money!) saved with fewer properties to overwhelm them in their home search. Not to mention, fewer to trudge through as the weather turns cold!

Home sellers on the North Shore will also benefit from taking advantage of the so-called "slower season" of real estate. There are still motivated homebuyers ready to move before winter rolls around and with the lack of inventory— sellers can ultimately have the upper hand in a transaction!

Sellers have fewer homes to compete with, fewer homes to steal the spotlight in online home searches and potentially more than one buyer finding themselves interested in their property. If you've been on the fence about selling your home, don't think twice! Selling your current home can be just as lucrative of an opportunity as purchasing your next.

The real estate market is expected to stay strong through 2017, according to a new survey, and both sides of the real estate fence have everything they need to come out ahead in either a purchase or sale!

Do not hesitate to contact me today about buying or selling a home in the Winnetka, Glencoe, Deerfield, Highland Park or Northbrook area. I'm here to help you make the most of this time!

Janie Bress
Your North Shore Real Estate Expert

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