What’s Happening in Our Chicagoland Market?

New activity in our market is going through a bit of a lull, but as you’ll see, that’s no reason to worry.

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We’re into July already, and a lot of people are asking me what’s going on with our Chicagoland market.

Our market started out 2017 very strong, but now it’s coming down a little bit. However, this is common. You’ve probably heard from most media sources is that summer is the busiest season for real estate. This is true, but it’s only the busiest season for closings—not new contracts and new market activity.

There’s still good news on the horizon. In May, new contracts and new market activity tend to peak. In June and July, that new activity subsides. Historically, though, the market then rebounds after the school year.

In the Chicagoland area, we have five market shifts—the four seasonal shifts and the school year shift. Buyers don’t go away, but the dynamic of the buyer changes. For example, the buyers focused on the school year due to their children aren’t looking during July and August, but the next set of buyers who aren’t focused on the school year are looking.

If you want more specific details about our market shifts and how you can take advantage of them, feel free to reach out to me. I’d love to speak with you.