What’s Happening In The Real Estate Market?
What’s happening here in Wheaton, Illinois, and Naples, Florida, real estate markets? Everyone wants to know, should they buy? Should they sell? What is the best choice to make for you and your family? There is so much noise surrounding this topic. How do you make sense of it? I say, look at the data. Let’s see what’s really going on, so you can make an educated decision based off of the actual numbers. According to real estate experts and advisors, anytime there are inventory levels, meaning the number of active homes on the market, at six months of inventory or below, you’re in a seller’s market, and anytime there are levels above six months, you’re in a buyer’s market. It’s the supply and demand theory. When there’s an abundance of something and it’s easy to get, you’ll sell it for less money because there’s more competition. But when there’s limited supply, the prices go up. So, let’s take a look at what local inventory levels are doing. Is it a good time to sell here and Wheaton, Illinois and Naples, Florida? Well, at the time of recording this video, in Wheaton, Illinois, there are 116 active homes for sale. The average time to sell was only 46 days, and the absorption rate is about one and a half months, which shows we were in a strong seller’s market. Let’s take a look at Naples, Florida. At the time of filming this video in Naples, Florida, Naples, Florida, there’s 895 active homes for sale. The average time to sell is only 24 days, and the absorption rate is 1.1 months, which shows us that we were in a strong seller’s market as well. Overall, it’s a great time to sell in both Wheaton, Illinois and Naples, Florida, as we are experiencing bidding wars, and in many cases, homes are being sold for above list price. So, feel free to reach out to us for a no-obligation market analysis of your home in today’s market. Thank you for taking time to watch my videos and feel free to share them with anyone that you may think may be interested in the content. And remember, make it a great home selling and buying day.
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