I have a Glen-specific, proprietary website. In fact you may be reading this blog on that site. It provides information about real estate in the Glen (in Glenview Illinois)and allows visitors to search Glen listings. The search engine optimization firm that I employ provides the tech-marketing magic that brings prospective home buyers to the site; and I am provided with numbers of all kinds weekly. These numbers show a late summer slow down in the Glen, which is seen nationally as well. In the 4 week period in May over 2,000 first time visitors came to my site. (This is a very POWERFUL tool!) The following 4 week periods declined by 7.6%, 6.7% and 10.9%. In the last two weeks alone (August 10 – 24) the number of first time visitors was down 35% from May. Looking at the site’s first time visitors in previous years shows this same pattern.
The good news for prospective home sellers in the Glen is that the number of first time visitors increases in September and then remains relatively even and strong until December. This trend is supported by my site’s prior-years data. So homowners thinking of selling, should be getting their homes on the real estate market soon to take advantage of the increase in buyer interest just around the corner.
But it’s not only buyers who take a real estate time-out in mid-to-late summer. The listings cupboard in the Glen is pretty bare right now, too. Of the 237 single family homes in the Southgate neighborhood, there is only 1 home listed for sale. The same is true in Tower Crossing, the large, 4 story brick townhomes adjacent to Glen Town Center. In that development there are 154 homes, but only 1 is listed for sale. At the Landings (formerly Concord) and Chapel Crossing neighborhoods (with 311 homes combined) there are only a couple of listings.
Spring interest among buyers is matched by sellers who want to take advantage of that peak selling season. People with children want to make their purchases and get moved in before the new school year begins. In mid-to-late summer interest drops as I’ve shown above; and smart sellers know this so many get their homes on the market in late winter/early spring; and conversely there are few new listings in mid-to-late summer or from Thanksgiving until early March.
Margaret Ludemann, Glen homeowner and Coldwell Banker Realtor