Eric Tammes and Maurie Richie, with their French bulldog, Beau, sit outside the condo building on Sept. 12, 2022, in the Albany Park neighborhood where they recently lived.
In August, the number of homes sold in the Chicago metro area was down 21.6% from a year earlier, according to data from Illinois Realtors. The median home sale price in the metro area stood at $311,000 last month, up 3.7% from a year earlier.Chicago real estate agents say that since the beginning of the pandemic, area residents have been willing to invest more money when buying a home, which makes for a “solid” housing market despite the dip in home sales and bump in interest rates.
“Buyers have more leverage now than they did a few months ago with less competition and fewer buyers looking to purchase,” Scott said. “From a seller’s perspective, they may not be able to sell as quickly as April, for example, but it’s still a great time to sell.”Eric Tammes and his partner, Maurie Richie, placed their Albany Park condo on the market in early July.
Their three-bedroom, two-bathroom condo was placed on the market on a Friday and had five offers by the following Monday, according to Tammes. They sold above their asking price.It was “a relief to not have two mortgages for any longer than necessary,” Thames said.
That's a selling tactic. Sounds more like a used car dealer.
Ah yes, real estate agents who make money when a house sells say “buyers must move fast”…shocking
The layoffs are starting to trickle…when the tempo increases dramatically everyone will finally catch on that this economy is just a house of cards about to come crashing down-dark clouds approaching on the horizon 😐