Anne, Other/Just Looking in Chicago, IL

how is the real estate market in highland park, il? Going up? Down?

Asked by Anne, Chicago, IL Thu Jan 10, 2008

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HP is a desirable community and number of under contracts is looking up! The good inventory sells fast. I closed two homes last month, and have two listings pending close for July and August! To answer your question though, sideways is the best answer... The bleeding has stopped but do not see appreciation for 3 years. Eventually Interest rates going up won't help either.
I see entry level homes and higher end homes doing the best. starter houses priced right and luxury homes are priced cheaper than you can build!
0 votes Thank Flag Link Tue Jun 28, 2011
Fast forward 2 years and prices are Still going down. However, the number of homes under contract month over month is increasing. Buyers, sharpen your pencils. This is your time to shine.
Web Reference:
0 votes Thank Flag Link Fri Mar 5, 2010
I am finding that now that the spring weather has arrived, the buyers are out looking again. The activity level depends on the price point- every year there is a "chain of dominoes" that sets up, with the first homes selling to first time buyers. The sellers of those homes then buy a larger home, and the seller of those larger homes then buy, etc., etc.

Right now homes in the $600,000-$700,000 range are moving. I just sold a home near downtown that was priced at $719,000 before it went on open market- I knew of an agent working with a motivated transferree buyer, and they bought. This is happening now because the transferree buyers are starting to buy, looking to close and move in this summer before the new school year starts .
0 votes Thank Flag Link Wed Apr 23, 2008
Anne, I just wrote an article on my blog about this. Number of homes being sold is down slightly, prices are also down. But there are buyers out there. They are VERY selective. See article at Things are selling, but the buyers are looking for good deals!
0 votes Thank Flag Link Wed Jan 30, 2008
Real Estate in Highland Park has been in decline over the last year an a half.

We've had fewer sales, and at slightly reduced prices (94-96% compared to 2006), but we've seen a bit of a resurgence in the last few months, which are typically dead, so we're somewhat hopeful that the spring market will be decent. We were down, but we're not out! :--)

cross your fingers for us, willya?
0 votes Thank Flag Link Thu Jan 10, 2008
Alan May, Real Estate Pro in Evanston, IL
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