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Market Update: November 2022

The market seems to be settling in as buyers and sellers get used to the rate climate. The perception might be that it’s now a buyers market; however, the inventory is still so low that months supply of homes — which dictates which side the market favors — is still sitting solidly in a sellers market. There is no denying that the market has experienced a significant slowdown and most notably in DuPage County where inventory is down 30% over last October and almost down 50% compared to two years ago. In Kane County the inventory is down about 10% over last October and the properties going under contract has dropped 30% compared to this time last year. Overall the velocity of the market is slowing down on both the buyer and seller side. There is always opportunity in every market… Let us help you discover what that means for you and how we can get you there!