In today’s current Illinois market, sellers are getting top dollar for their homes, while record-low interest rates are helping homeowners lower their mortgage payment. Here are four good reasons why it might be time to get your home on the market:
Homes Are Selling Quickly –
- Illinois homes were on the market for an average of 25 days before going under contract during 2020. Listing now could result in a much quicker and easier home selling experience.
Supply/Inventory is Tight –
- Your home is a hot commodity! Total contracts on home sales are up 33% from a year ago. Currently it would take about 2.3 months to sell all the homes on the market, which truly favors sellers.
Buyer Demand Is Up –
- After spending so much time at home, many buyers are ready to safely dive back into the market for houses that better fit the needs of their “new normal”. Data suggests pending home sales activity sharply climbed thru 2020 and this pattern is expected to continue during 2021.
Prices Are Increasing –
- Because inventory remains tight, this has led to an average 15% median price increase during the pandemic. This means listing now will more likely get you top dollar for your home.
The past year has brought many changes in residential real estate including the need for professional home offices or dedicated spaces thereof, culinary kitchens accommodating the whole family, areas allowing home schooling without interruptions and outside recreational space enjoyable for most seasons. You can tap into this seller’s market best by boosting your curb appeal, catering to these trending needs and being prepared to move quickly.
If you are wondering what your home might be worth on the market, give a residential real estate professional a call. Most will run a free comparative market analysis to see what homes in your neighborhood are selling for right now.
(Statistics from illinoisrealtors.org)
Written by: Debbie Gurley, Broker
For those who want to sell their home in Aurora, Geneva, Batavia, St. Charles, Wheaton, Naperville, IL, get in touch with the real estate experts at Miscella Real Estate. Their agents will guide you through every step of the selling process from pricing to closing. Call them today at (630) 232-1570 or email info(at)miscella(dotted)com.