Blog

When We Are Upside Down The Market Is Going Up... We all remember the downturn in 2009 when we heard about homeowners being upside down in their homes. It meant that they owed more on their home than it was worth at the time. Well, those who had patience and continued to pay their mortgage and those who saw the large inventory … [Read more...] about Washington Park Monthly Stats – October 2021

It Remains a Strong Seller's Market... 58 homes closed in August of 2021 tied with October of 2020 for the most Washington Park sales in my recorded history. That number is pretty unsustainable so it is not a surprise this month to see a 38% drop in closings from August to September. Also, if we had a record number of sales in … [Read more...] about Washington Park Monthly Stats – September 2021

Is There Cause for Alarm?... Yes, fewer homes are pending this month than a year ago however, that is likely due, once again, to the low inventory. In fact, I marveled a year ago that 32% of the sales were at or above asking. This year, I am marveling even more that 71% of the sales were at or above asking. So, I would say, no … [Read more...] about Washington Park Monthly Stats – August 2021

The Reports of the End of the Seller's Market Are Greatly Exaggerated... There have been some articles in the media about the slowing of the real estate market. Most people thought the Spring market was unsustainable. And to a slight degree, it was. There were 10% fewer Washington Park closings in July than in June and it took … [Read more...] about Washington Park Monthly Stats – July 2021

Upside Down Market... This is what you could call an upside down market. April was the 5th month in a row where we sold more homes in a month than we had listed on the first day of that month. If you look at the chart, you can see just how unprecedented this is. April was also one of only 3 months in the last 10 years where … [Read more...] about Washington Park Monthly Stats – April 2021

The Imbalance Continues... Oh my, as of March 31st, there were only 13 houses for sale in Washington Park. Prior to 2021, we typically have seen only one month a year where we sold more homes in a month than were available to purchase. Now we have seen this imbalance for 4 months in a row. Typically, the market really gets … [Read more...] about Washington Park Monthly Stats – March 2021

The Numbers Don't Get Much Better For Sellers... I think most of us are happy to say goodbye to 2020. What a year! Of the 27 sales this month, 66% sold at or above the asking price. Multiple offers are the norm rather than the exception. We used to think the high end never got full price but the one sale this month that sold … [Read more...] about Washington Park Monthly Stats – January 2021

What A Year 2020 will be a year to remember for so many reasons. Most of those reasons are not real estate related but the Washington Park real estate market for anyone who has been involved in it this year will also live on in infamy. Several numbers stand out. As you can see on the chart, traditionally we sell the most homes … [Read more...] about Wash Park Real Estate Market Review 2020