Market Conditions in 60045>Question Details

David Hunter, Both Buyer and Seller in Lake Forest, IL

What happened to the spring selling season? Is it over? Was that all?

Asked by David Hunter, Lake Forest, IL Mon Jun 30, 2008

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We are now in the slower Summer selling season and then comes the even slower fall market, so you need to be priced for the current market or you will get to see next Springs market also.
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2 votes Thank Flag Link Wed Jul 2, 2008
When you are headed for a major holiday many times it all dies till after the 4th, then it kicks in again.
http://www.lynn911.com
2 votes Thank Flag Link Mon Jun 30, 2008
David,
There really wasn't much of a Spring market in Lake Forest. For example, historically,May is the month with the most transactions with 45-60 sales over the last 5 years. This May there were only 21 contracts. However, in the last month things have picked up in Wilmette and Winnetka which usually means good things to come in Lake Forest in the near term..
1 vote Thank Flag Link Mon Jun 30, 2008
David,
The spring market was very slow in no small part due to the long winter. We are actually seeing a big increase in buyer traffic right now and the number of calls we're getting is really up in the last 30-40 days. The other side of this though is on the North Shore even though there has been a lot more buyer interest latley, over the last 60 days for every home that has accepted a contract about three new ones have come on the market. This means we're constantly adjusting marketing strategies and mediums to hit the buyers since there's so much competition. While I hate to speculate, I think this summer's going to be kind of steady (with a slow down this week around the holiday) and then we'll see a nice uptick in September til mid November again.

Good luck and if you have any questions about marketing don't hesitate to ask.
Mike
1 vote Thank Flag Link Mon Jun 30, 2008
Old question, but lately busy now as we head into April 2013
0 votes Thank Flag Link Sun Mar 31, 2013
Things have definetly slowed since the tax credit expired. Also, the higher end of the market is much slower than the lower end in general.....I'm not sure how you are currently priced, but much of the inventory in Lake Forest (& Chicagoland area as a whole) is really overpriced.
0 votes Thank Flag Link Wed Jul 7, 2010
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