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Washington Park Monthly Stats – December 2023 in Review

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It Is Too Early to Tell... There are some factors here that make me cautiously optimistic that the 2024 Washington Park market will be a bit better than it was last year. For one, we finally have a little more inventory. There is an added affordability factor where many of our clients may need to leave the area to afford a … [Read more...] about Washington Park Monthly Stats – December 2023 in Review

Washington Park Monthly Stats – November 2023 in Review

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Lowest Number of Closed Homes In a Long Time... Looking back over our records, the last time that there were only 13 Washington Park sales in November was 15 years ago in 2008. However, it feels slower than it has in recent years but not nearly as slow as my memory of 2008. That year, there were 161 active listings while we … [Read more...] about Washington Park Monthly Stats – November 2023 in Review

Washington Park Monthly Stats – October 2023 in Review

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It's a Buyer's Market for New Builds... With only one of Washington Park's new construction single-family homes under contract, one that closed in October, and with 11 on the market, it is a Buyer's Market for that type of home in this market. If you have had your eye on one, now would be the time to make an offer. The one that … [Read more...] about Washington Park Monthly Stats – October 2023 in Review

Washington Park Monthly Stats – September 2023 in Review

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Time Flies... We have been looking at rates over 7% for more than a year now and the market is beginning to adjust to the new reality. The increase has continued to slow down the market by increasing the average days to sell a home in Washington Park from 24 days in September of 2022 to 33 for Sept of this year. The average … [Read more...] about Washington Park Monthly Stats – September 2023 in Review

Washington Park Monthly Stats – July 2023

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The Scales are Tipping... It does appear that the high end is beginning to feel the effects of the higher interest rates. However, with 4 sold and 16 active over $3 million, we still only have a 4-month supply in that range. Experts say it takes a 6 month supply to tip the scales in favor of buyers. We are not there yet but … [Read more...] about Washington Park Monthly Stats – July 2023

Washington Park – First Half Market in Review 2023

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Not So Fast... It is still a Seller's Market in Washington Park. It just isn't happening quite so fast. The number of days it takes a house to sell has doubled over a year ago. However, we remain far from a Buyer's Market. We have sold an average of 33 homes a month so far this year. With only 52 homes in inventory as of August … [Read more...] about Washington Park – First Half Market in Review 2023

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