2012 REAL ESTATE MARKET

2012 was a comeback year in real estate for many of our local communities. The market was extremely active and positive results were achieved in growth for units sold for many. However, this rush of activity has affected the current market, as the amount of homes for sale has dropped dramatically. For home sellers now on the market, there is much less competition. This can also increase the likelihood of multiple offers on a property, as there are more buyers than homes.

Chicago land's multiple listing service (MLS) MRED did a study recently of inventory. MRED, which is one of the largest MLS organizations in the country, announced that December 2012 figures indicate the volume of properties for sale on December 31, 2012 was at about half (50%) of that for 2010.

We anticipate the inventory will grow slowly in the coming year. If you have thought of putting your home up for sale, the current market conditions should be a positive sign for you. I can help you best position your home to take advantage of the newly revived real estate market. ~PAM