December 2018 Real Estate Market Report

It's the end of the year, and 2018 turned out to be a pretty good year for the Real Estate Market. Overall, the average sales price for Chicagoland is up 3.7%. The main issue in real estate for the year has been the low inventory of homes for sale, but it looks like that should start easing up as the new year begins. Read on for some insight on the market over the last month. Then click the links at the end for more specific data in your neck of the woods.

1. Up Tick in Sales Activity - There was a noticeable up tick in home sales for a couple weeks in December, which is good considering this month is typically a slow time of year. This is likely contributed to the dip in mortgage rates witnessed during the same time.

2. Home Prices Continue Up - Good news for homeowners as sales prices continue to climb, up 3.7% from this time last year.

3. More New Listings! - Some much needed relief in inventory finally seems to be coming. New listings are up 4.7% from this time last year. Good news for buyers who have not been able to find anything they like in their budget!

Click these links for more specific market data on your suburb or neighborhood.

City Market Report

North Shore Market Report

Northwest Suburb Market Report

Western Suburb Market Report

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