“Homebuying activity is dropping off from its frenzied historic highs, but properly priced homes continue to sell fast in certain markets.
Average Market time is only 55 days in Northbrook, IL
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I’m Caroline Gau, in the Baird & warner glenbrook office. This is your Northbrook Market Minute for July 2022
Low inventory remains an issue, and many buyers who were unsuccessful in finding a home last year are still looking and waiting for properties to list in specific neighborhoods.”
There are 1.6 supply of homes for sale-down 54% over this time last year.
“The properties I listed in June received multiple offers and sold quickly for over asking price,
The most recent list price to sales price is 98.6%
and the homes I listed in early July have already seen good activity.
We expect 5-10 showings the first week and solid open house traffic. It’s never guaranteed that homes will receive multiple offers, but we try to price homes at a fair price that also factors in current market conditions.”
Average sales price is $510,000 in Northbrook, IL. 60062