Skyfor, a consumer education and real estate referrals company based out of Denver Colorado continues it’s series of buyer agent reports on market conditions across the US with the most recent being a report on the Chicago, Illinois area.
(Chicago, IL) Richard Harty of Harty Realty Group in Highland Park, a community in the Chicago, Illinois area gave a report this week on the status of residential real estate to Skyfor, a real estate consumer education and referrals company. Harty stated that “Prices have gone out of the affordable range for many.” However, the Chicago area market conditions are spotty, with some areas escalating in price at a remarkable clip and others remaining stable or declining.
Harty is one of Skyfor’s top buyer agent specialists who has represented only buyers since 2009. For a list of qualified buyers agents who serve the Chicago area, and a summary of the interview, see the Illinois Buyers Agent network of members at http://buyeragentsearch.com/associations-and-real-estate-agents/illinois-buyers-agents/
This buyer’s agent explained that the average price of homes in the popular subdivision of Oak Park is over $500,000, and may other North Shore communities such as Kenneworth have average prices of over $1 million. He stated that Evanston and Naperville are “hot” markets.
The broker provided an example of a recent transaction on a property listed at $700,000, where he and his client offered $5,000 over asking price. When the seller accepted the final offer, the price ended up being $785,000. The broker stated that areas in Northwest Chicago are experiencing a strong seller’s market with quality $300,000 homes going for $25,000 over asking price.
The interviewer asked why there seemed to be such a strong seller’s market, and Harty surmised that it was simply that there are more buyers than inventory available for sale. He felt that many buyers are having to accept a longer commute to work in order to get into an area where housing is affordable for them.
Another SmartHomeSearch broker in Skyfor’s network of top agents, Diane Oliveros of Elgin, IL states that getting people a good home takes a special effort to make sure buyers are always kept up to date. She stated that she provides Virtual tours, open houses, texting, e-mailing, phone, face book, face time, skype... “whatever means of communication my client is comfortable with.”
Once out of the super-hot areas of northwest Chicago, brokers concur that at the $500,000 mark that there is more inventory and not as much competition. Some less desirable neighborhoods have actually stabilized or declined in prices in recent months.
Skyfor, who also manages the Colorado Exclusive Buyer Agents Association, notes that the Denver Colorado market seems to be experiencing more consistent growth throughout the city, compared with Chicago, which has a greater population and more neighborhoods and thus more of a patchy market.
Those wishing to consider a real estate home purchase may get a free consultation, market analysis and list of buyers agents by phoning the Association headquarters or going to the inquiry page located https://buyeragentsearch.com/find-a-buyers-agent/
