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What Chicago Buyers and Sellers Should Know About Inventory
Manage episode 154230670 series 1116796
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What’s happening with the market inventory in Chicago? At the moment, inventory is low and there aren’t many homes on the market.
If you’ve been thinking about selling, now is the time to get your home on the market. There isn’t much competition out there, which could help you get a better sale price than you would in a market flush with inventory.
If you are buying a home, low inventory means you need to act and move quickly. Unlike sellers, you are up against more competition. If you really like a home, don’t wait a couple of days to make an offer. In this market, chances are someone else has already made an offer. You could end up in a multiple offer situation or even miss out on the home entirely.
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Buyers need to act fast in this market.
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We will help you by creating a strategy so you can get that home at the right price. How do we do that? I’ll share some market statistics about similar homes in the neighborhood. We’ll look at what these properties sold for, as well as the list-to-sale price ratio. That way, you know what to expect when buying this property.
Now, I always have buyers asking me, “Can I get the home for 10% less than the list price?” Again, looking at the list-to-sale price ratio will help answer that question. With all of that information, you and I will create a strategy to get that home for the best price.
If you’re a seller, we will do everything to get your home priced appropriately for the market. In a low inventory market, if you are priced right, you can get multiple offers.
If you have any other questions, please contact me. I would be happy to help you!
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