Interest rates have begun to rise and will likely climb higher. Inventory is low and could shrink more. And home prices? Well, home prices are increasing—and they’re not predicted to fall any time soon.
|5 New Year's Resolutions for Your Home|
1: Streamline the stuff
One of the best and least expensive ways to feel better about your home is to clear it of clutter.
Each year most of us acquire a mountain of stuff. Without some regular purging, cabinets and drawers get jam-packed and it becomes hard to find the things you use and enjoy the most. (All that clutter also makes your house look dated and dirty, designers say.)
This year resolve to go room-by-room periodically clearing anything that you don't use, wear or love and donate it to charity. After that, think twice about what you bring in, says Antoinette Nue, an Atlanta consultant who specializes in helping people simplify and go green.
Read more by clicking here! Article and information courtesy of HGTV.com
|DECEMBER 2016 PROPERTY SALES FOR DuPAGE COUNTY|
December Property sales were 951, down -3.6% from 987 in December of 2015 and -5.1% lower than the 1,002 sales last month. December 2016 sales were at a mid level compared to December of 2015 and 2014. December YTD sales of 14,358 are running 5.9% ahead of last year's year-to-date sales of 13,553.
The Median Sales Price in December was $251,099, up 4.6% from $240,000 in December of 2015 and up 0.7% from $249,450 last month. The Average Sales Price in December was $321,523, up 9.6% from $293,289 in December of 2015 and up 7.8% from $298,234 last month. December 2016 ASP was at highest level compared to December of 2015 and 2014.
Inventory & MSI
The Total Inventory of Properties available for sale as of December was 3,087, down -19.5% from 3,834 last month and down -25.5% from 4,146 in December of last year. December 2016 Inventory was at the lowest level compared to December of 2015 and 2014.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The December 2016 MSI of 3.2 months was at its lowest level compared with December of 2015 and 2014.
The average Days On Market(DOM) shows how many days the average Property is on the Market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer's market, a downward trend a move towards more of a Seller's market. The DOM for December was 54, up 1.9% from 53 days last month and down -14.3% from 63 days in December of last year. The December 2016 DOM was at its lowest level compared with December of 2015 and 2014.
Data: MRED LLC
DECEMBER PROPERTY SALES FOR COOK COUNTY