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Washington Park Monthly Market Stats – December 2024 Review

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Rate Drops Are Meaningful... We had a better December in 2024 than in 2023. I attribute part of that to a small drop in rates in the Fall that might have gotten some buyers motivated. Whatever it was, we will take it. Probably one of the significant data points here is the increase in marketing time to an average of 57 … [Read more...] about Washington Park Monthly Market Stats – December 2024 Review

Washington Park Monthly Market Stats – November 2024 Review

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Contrary to Popular Belief, It's Still a Seller's Market... Yes, it is still a good market for selling in Washington Park. As you can see, we still only have a two month supply of inventory which is considered a Seller's Market. The number of closed and pending are better than they were a year ago. They are down from last month … [Read more...] about Washington Park Monthly Market Stats – November 2024 Review

Washington Park Monthly Market Stats – October 2024 Review

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It is an Improvement, and We'll Take It... Much to my surprise, the number of October closings improved significantly over September. What is that about? I can only think that it is a combination of factors. Rates took a dip in September which probably helped. It is likely that some buyers locked at around 6% in September and … [Read more...] about Washington Park Monthly Market Stats – October 2024 Review

Washington Park Monthly Market Stats – September 2024 Review

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A Dip In The Rates... The lower number of closed sales reflects home sales that most likely occurred in August. August was a quiet month with the combination of rates at 7% and summer vacations not doing the market any favors.  Closings that occurred in September were down 41% from closings in August and were 24% lower than … [Read more...] about Washington Park Monthly Market Stats – September 2024 Review

Washington Park Monthly Market Stats – August 2024 Review

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It is all About the Inventory... We have not seen August with this much inventory since 2011. However, 83 active listings pales in comparison to the amount we saw from 2001 through 2011 when we typically saw at least 125-150 homes for sale in the August market. For years now, clients have been saying to me, yes, I can sell my … [Read more...] about Washington Park Monthly Market Stats – August 2024 Review

Washington Park Monthly Market Stats – July 2024 Review

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It Is Still A Good Market... The last time we saw this much inventory was July of 2017. The 24 sales we had in July of 2024 happened in an average of 28 days. Furthermore, 11 of those 24 sales sold at or above asking. In what I call a good market, homes sell within 30 days if they are well priced, show well and are well … [Read more...] about Washington Park Monthly Market Stats – July 2024 Review

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