While the peak of the real estate market is generally the spring, fall often offers robust buyer activity as well – we call it the “September-October Bump”. Below are a tally of the number of showings that occurred in various pricepoints from $300,000 to $2.5M for single family homes in Wilmette, Glenview and Chicago.
I suppose it comes as no surprise that the city would have highly concentrated activity in the entry level pricepoints, whereas Glenview and especially Wilmette, have a better distribution of activity across several different pricepoints.
It is important to note the final column in the lower chart which measures showings per listing as this takes into account the number of homes that are actually on the market in each pricepoint and gives you the truest picture of where the majority of activity lies. For example, averages above 4 showings per listing indicate that it is a very popular pricing band. If you are in the market to buy, you should check out how competitive your price range will be to get an idea of how quickly you may need to move when you find that dream home! For sellers, if you are between two pricepoints, you may want to opt for the pricepoint with more showings per listing as it will show the price band with the greatest demand. Of course, if you need more details or data for another market area, please contact me, I’d be happy to run some numbers for you!