We are halfway through 2023 and halfway through summer – what does the clarendon hills market look like right now?
Traditional seasonality is back but supply remains much lower – with less homes for sale, we have overall less sales in 2023 in clarendon hills but this is due to sellers being hesitant to enter the market for lack of inventory in their next move and desires to hang on to 2 and 3 percent rates.
Since we still have limited inventory for the season – we are seeing continued increasing price points.
While buyer demand does seem to be changing a little bit each week it is still out there.
Rates have been in the mid to high 6’s long enough that they are stable and not a deterrent to buyers like they became about this time last year. If you are a seller and you are priced and positioned well – you are moving quickly. If you are overpriced or your house needs some work – your home is going to take a little longer to sell. If you are a buyer in this market for a product that doesn’t need updating – you are most likely still going to find yourself in a bidding war.
The good news is that we still have great inventory coming every single day in most price points and it is still possible to make a move – even before summer ends.