HI, I’m Caroline Gau in the Baird & Warner Glenbrook office
I was interviewed this week by the Daily Herald about the Northbrook and Deerfield real estate market. She asked me where do I think the market is headed this summer?
In my opinion we haven’t peaked yet. The housing supply is constant over last month and still lower than April at 1.6 months of supply. You recall, that means if no new homes came on the market it would take 1.6 months to clear out the current inventory. A balanced market is 6 months supply.
Median Sales prices in NB are UP 8.4% to $514,385. My most recent listing had 6 offers. Is it a good time to sell? Yes. and while I do feel the frenzy is tapering off buyers still need to find a home and lock in a good interest rate.
Market time is down to 59 days. So don’t be scared by the news, I’ll help you craft a winning strategy for buying and selling a home in Northbrook this summer!
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