February 2013 Wash Park Market Report

MORE AMAZING RESULTS

I am still in a state of shock that the market could make such a quick turn around. In a year, the average days on the market for a Washington Park home has dropped from 102 down to 28. I don’t believe I have ever seen it that low.

Of the 14 sales in February, 7 sold at or above the asking price. I happen to know that several of the under contracts have sold over asking as some are my listings. We will see the exact numbers when those close in the next few weeks.

Inventory is less than half of what it was a year ago. All of these are adding up to a very busy market, often with multiple offers and sales over the asking price. Some buyers are getting a little frustrated but the sellers have big smiles these days.