June 7, 2019
It’s a great time to be a seller in Plainfield! The Month’s Supply of Inventory (MSI), a key metric in determining if it’s a seller’s, buyer’s or balanced market is skewed toward sellers at 2.8 MSI (for homes under $450,000). Less than 3 months is a seller’s market, more than 5 is a buyer’s market and in between 3 and 5 is balanced.
Aurora, Naperville and Plainfield combined have a 2.9 MSI for all homes. Buyer demand and inventory have been creeping up over the last few months with 218 more homes for sale in May than in February and 72% more homes under contract in the same time frame.
Lending is also easier with no down payment loans available and loans for people with 580 credit scores.
Many people are leaving Illinois for Indiana, Tennessee, Florida, Arizona and other states where lower taxes and nicer weather are available with comparably priced homes.
So if you’re interested in finding out what your home is worth and if now is a good time for you to move, contact me and we’ll sit down for a no cost, no obligation consultation.
You can view My Marketing Plan which I will customize to sell your house for more money in less time.