There is something about August that feels bittersweet. You realize summer is ending, and you wish for just a little more time to savor the days of early morning light as well as the evenings of lingering light. We are days away from watching the parade of kids walk past our front windows on the way to starting a new school year. While this time of year feels like an ending, it simultaneously offers new possibilities.
In our world of real estate we are all perplexed by what possibilities lie ahead of us this fall. So much conflicting news has us weary of making any confidant statements on how we see this final season of the year riding out. The message in the news as well as national Compass meetings we are involved in definitely broadcast to prep for a rough ride. The perplexing thing is there is still a limited amount of inventory and virtually no new construction available in our market. In the village of Glen Ellyn there are currently a total of 58 homes available while Wheaton has 100 homes available.
In reaching out to discuss the market with our colleagues, none have indicated they have many new listing prospects but do have buyers still waiting for the right home. And yes…. we are still seeing multiple offers on homes and some homes not even making it to the full market. Why are we experiencing something different than other markets? We feel it lies in the fact that while our sales prices appeared to be off the charts in the past several years- these increases were well below when compared with the top markets that are now experiencing a big shift. We could continue on and on with our musings of the real estate market as we do enjoy the challenge of deciphering the indicators but will let you off easy 🤓😉.
Enjoy the remaining sweet early morning and dusk light!
The Carrie & Renee Team