It’s true, the scenarios with each home sale could be wildly different depending on the timing, competition, buyer’s need/emotion, etc. However, in a relatively homogeneous market, (Glenview, for instance) understanding the market could help you better strategize and manage your expectations; hence more knowledge = less stress + better gains
Here’s my short analysis of the Glenview zip 60025 market as of Sept 2016.
This month, the market cooled down quite a bit, sales activity decreased by almost 8%. The average home spent 86 days on the market before it secures a contract. For single family homes only, the median sales price was about $450k, dropped by about 5% compared to a year ago.
The good summer months are almost over. Historically speaking, after Halloween, there’ll be fewer homes on the market, and homes sit on the market for longer time. But hey, last year’s average high price was achieved around Christmas time. So go figure…
Two little tables for last month’s market activity for your viewing pleasure.