So you heard the market has slowed down, now what?

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Reading this right now you may be wondering, did I miss the boat? And by boat, we mean the “hot” real estate market on the North Shore of 2021.

We have some good news, and some not-so-good news. Let’s rip off the bandage and start with the not-so-good news, which is that if you didn’t get your house on the market yet, you pretty much missed the “bubble” that was the frenzied, multiple-offer-over-asking price, tons of showings, craziness that happened from about March this year until June.

But, fear not! The good news is that the market is still very good right now, and we anticipate that even with more inventory becoming available, home prices will remain steady and houses will still sell.

The month of June saw a significant slowing of the pace of the market, however, it’s important to note that this is relative to how chaotic it was for several months. So what looks like a “slow” market is really a normal market. Why is that good, you ask? Well, the short answer is because it creates balance - neither buyers nor sellers end up at extreme advantage or disadvantage.

We anticipate that more inventory will be coming on the market as we head into fall, but on the whole this will unlikely change pricing significantly at this time.

If you are considering selling your home and are curious as to what the market conditions mean for you, we would love to hear from you and help guide you through the process.

The Spaniak Team - eXp Realty is one of the top real estate agents in the Chicagoland area. The Spaniak Team specializes in residential homes on the North Shore of Chicago. They can be reached at (847) 379-8813, at Info@SpaniakTeam.com, or on the web at www.SpaniakTeam.com

by Heather Johnston, Chief Operating Officer, The Spaniak Team - eXp Realty

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