Why You Should Sell Your Chicago Home in 2018
The spring selling season is right around the corner. And in Chicago, it should be a busy one. If you’ve been thinking about putting your Chicago condo or single-family home on the market, now might be the ideal time.
Why? This story by U.S. News & World Report gives plenty of reasons why 2018 is a good time to sell. But if you’re looking at the Chicago market, I’ll give you some more:
Buyers are ready: Buyers in Chicago are struggling to find homes for sale in the most popular of the city’s neighborhoods. That’s because inventory levels are low, and have been for more than a year.
If your Chicago condo or single-family home sits in a desirable city neighborhood and is listed at the right price, you will get offers. If you’re lucky, you might even receive multiple offers.
People want to live in the city: There’s a trend sweeping downtowns across the country, and Chicago is no exception. A growing number of people want to live in the center of urban environments. They want to ditch their cars and be able to walk to public transportation, stores, restaurants, theaters and bars.
If you’re selling a condo or single-family home in a neighborhood that has its own business districts, restaurants and public transportation? Then you’ll be in great shape to attract local buyers.
Interest rates are still low: Yes, you’ve read plenty about how mortgage interest rates are rising. But rates today are still at historic lows. It’s still quite possible for buyers to find interest rates of under 4.5 percent on 30-year, fixed-rate mortgages.
This is good news if you’re selling a home in Chicago. Buyers, thanks to low interest rates, can afford more house. This means they’ll be more buyers who can afford the higher-priced condos and single-family homes that often hit the Chicago market.