The good news is, our Naperville market remains strong in the wake of the coronavirus pandemic.
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What will the coronavirus do to our real estate market for the rest of 2020?
No one really knows, but here’s what I can tell you: Houses are still selling. Our open houses have been very well-attended in the past two weeks, and showing numbers are outstanding.
Between March 14 and March 17 in Dupage County, 166 new listings hit the market, 141 listings went under contract, and 95 properties closed. In Will County, 105 listings hit the market, 121 listings went under contract, and 62 properties closed.
Naperville always seems to have a ray of sunshine sitting over it, and housing values are still strong.
Those are pretty good numbers, but what about home prices? Prices aren’t necessarily tied to the stock market. Interest rates are incredibly low (3.29% as of the recording of this video), and that’s brought some buyers to the market, but we’re seeing a lot of refinances.
Ultimately, we’re a market-driven economy. It’s all about supply and demand. That being said, prices remain steady. Naperville always seems to have a ray of sunshine sitting over it, and housing values are still strong. Outlying communities further west and south may experience turbulence, but we have plenty of buyers still contacting us.
In fact, the morning before I recorded this video, I talked to six new buyers looking to purchase. Furthermore, my team had already set more appointments by the middle of this month than we did the entire month of February.
The demand is still there, homes are still being sold, and we’re still seeing great pricing on all of our listings, so keep your chin up.
As always, if you have questions about this or any real estate topic or are thinking of buying or selling a home soon, don’t hesitate to reach out to me. I’m happy to help.