Chicago suburban homes saw a boost in sales activity during June, with home buyers capitalizing on improved inventory. By the numbers, sales activity for single-family homes increased by 10% on a year-over-year basis. Sales activity for attached homes, such as condominiums and townhomes, increased by 9.6%. Overall, homes averaged about 31 days on market before going under contact.
The strength of June’s sales activity pushed home prices higher. The median sales price of a suburban single-family home reached $435,000 during June, representing a year-over-year price increase of 3.1%. The median sales price for a suburban attached home reached $289,000 during June, a gain of 6.3% from the prior year.
When looking deeper at the statistics from Mainstreet REALTORS©, a few suburbs pulled ahead of the pack in sales volume. Addison home sales were up by 82.4%. Homewood sales were up 79%. Batavia home sales increased 68%, and Antioch’s sales activity was up by 54.6%. About 25 Chicago suburban markets had double-digit increases in June sales volume.
Despite June’s healthy sales activity, sellers didn’t always get their full asking price. There was almost an even split between the homes that received above-list offers, and homes that sold for less than the asking price. A smaller ratio of home sales were full-price offers without adjustment. Buyers will punch each other in the nose for the best house in a popular neighborhood (or rather, be willing to pay more) but not every home creates that kind of excitement. This is why a pre-sale consultation is so important for Chicago area home sellers. Setting the right price for your home’s condition, location and features will help you get the best results from the market!
Whether you’re a Chicagoland home buyer or a seller, being prepared and well-informed makes all the difference. We’re here to help you succeed!
StartingPoint Realty – serving Chicagoland since 2004!
StartingPoint Realty proudly serves home buyers and sellers throughout Chicago and the suburbs. We offer free, first-time home buyer seminars every month! We offer free home selling seminars too! Contact us for your free home buying or home selling consultation!
Ryan Gable Broker/CEO Starting Point Realty
Phone: 847.348.1154
Email: RyanGable@startingpointrealty.com
https://startingpointrealty.com/
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