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Updated over 8 years ago on . Most recent reply

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Nick LePore
  • Homewood, IL
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just curious before I try and buy my first property.

Nick LePore
  • Homewood, IL
Posted

I have not purchased a property yet but am looking to do so hopefully in the next couple weeks, I want to try and look for a property to rehab but as summer comes to an end i was just wondering if it becomes harder to sell the property during the winter? Would I  be better off waiting til spring so i would not have to worry about holding cost?  oh and I live in the south suburbs of Chicago if it makes a difference.

thanks for your time.

Most Popular Reply

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Jeff Valentino
  • Residential Real Estate Broker
  • Winston Salem, NC
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345
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Jeff Valentino
  • Residential Real Estate Broker
  • Winston Salem, NC
Replied

Welcome to BP @Nick LePore !

There is lots of good info here, so soak it up.

To answer your question, the market has been strong this year in Chicagoland. Sometimes there is a slow down in winter but earlier this year Chicagoland as a whole saw # of transactions climb each month From Jan-July where we saw a summer slow down. Between July 2015 and and Feb 2016 Homewood saw between 340 and 353 closed sales per month. Pretty steady. 

Homewood as a whole has slowed from that pace a bit, but I still see well marketed homes that are priced right move quickly. All that being said I would plan for a little extra holding costs and a little longer time on market to be safe. 

Hope that helps!

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