NOW THAT’S MORE LIKE IT!
In the 31 years that I have been selling homes in Washington Park, I don’t think I have ever seen a more dramatic turn around. We sold 43 homes in April and we only have 81 active listings. That is not even 2 months supply of inventory. That is a Seller’s market! It is no wonder that the average days on market has dropped to 45. In other words, if you put your house on the market, get ready to move.
At long last, the sales of homes over $500,000 is starting to pick up. Only 14 of last month’s 43 closed sales were over, that mark. However, there are a whopping 40 of the 76 homes under contract that are priced over $500,000. That is quite a dramatic change.
We are starting to see bidding wars on some properties. I personally had 2 on one Saturday 3 weeks ago. I spent the day juggling 6 offers on 2 properties. It was a 12 hour day of texting, emailing and talking on the phone with 6 agents and my sellers. It is quite a day to remember. It was worth it as I was able to get both sellers over $30,000 more for their properties than they were asking. Coincidentally, they each bought their houses only 1 year ago and will be selling for about 10% more than they paid last year. Who would have guessed that would happen a year ago?
