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Choosing the right moment to move can be tough, but sometimes the market chooses for you—right now is one of those times.
More homes were sold in this past January than in any January over the last ten years. It’s not remotely close either, sales in Illinois were up 20.5% in the month compared to the same time in 2020, according to Crain’s Chicago Business. That means that this year the market is off to a historically hot start, and between low interest rates, increased vaccinations, and a government stimulus package, the momentum should continue.
It’s not just that homes are moving at a remarkable rate, they’re also fetching higher returns. The median sale price was up 14.1% from a year prior nationwide. It was also up 15.9% in Chicago and 16.1% in the nine-county metro area, Crain’s reported.
In fact, the only thing holding the market back from even more remarkable growth is the lack of homes available to purchase. This means that the demand is outweighing the supply, and the prices of homes will continue to soar. Because of this factor, homes are selling in roughly half the time as last year, and they’re selling “as is.” You don’t have to refurbish or replace any parts of your house, from older kitchen counters to dated furnaces, and anything in-between.
There is availability in our community right now, so you can pick the perfect apartment. However, with pent-up demand and a growing waitlist, our homes are starting to fill fast, so the quicker you choose to move, the more options you’ll have. And with the market as hot as it is right now, there’s no telling when a situation this profitable will come around again.
The market is ready, are you? If you have any questions, please fill in the footer form at the bottom of this page and we will get back to you.
You can find even more reasons that right now is the ideal time to move to GreenFields, and more information, here.