Many areas of Northern Illinois are in sellers markets. A sellers market occurs when it takes less than 5 months to absorb the current housing inventory. Many cities are at or below 5 months.
If your city has inventory that takes less than 5 months to sell your property should sell quickly. If it hasn’t sold consider your price. Price, location and condition are major factors in selling a home. Sellers can change the price and condition but can’t easily change the location of the home.
If you are testing the market with a higher price you will eventually chase the market. Consider your current mortgage payment if you need to sell quickly price at market value. If you price it to high you will pay a mortgage each month it hasn’t closed. Why spend more money on a mortgage when you can drop the price and move on to the new home.
Need to see it on paper? Ask me and we will run the number. Let’s make sense of your home sale.
