The lull between the (sales) storms

The spring and early summer real estate market in The Glen (in Glenview, Illinois) was the strongest in many years.  The Glen, as many of my blog followers know, is an upscale residential and retail community built on the site of the former Naval Air Station Glenview.

As an example, in The Glen’s Tower Crossing neighborhood with 154 row homes, 15 homes have already sold in 2013 as compared with 6 by this same time last year.  In fact, only 11 Tower Crossing homes sold in all of 2012.  Most other Glen neighborhoods have seen the same strong sales performance this year, especially in Chapel Crossing, Landings, Cambridge and Southgate.  I should add Regency to that list.  As the only new construction project in The Glen, sales have been hot all year.

There is, however, a bit of a lull right now.  Late summer is typically a slow period in real estate.  Many buyers want to make their purchases and move in prior to the start of school, which in the Glenview Public Schools is August 20.  Using again the example of Tower Crossing, only 1 home closed last year between August 15 and November 9.  Closings in this period correspond roughly to sales contracts being signed between mid-July and mid-September.

The market will pick up again – I suspect strongly – in late September, and it is likely to continue until Thanksgiving.  So the point is that this is a particularly great time for buyers to be searching for their next home.  They will face less competition with competing buyers; and some sellers who missed getting their homes sold in the spring and summer may be a bit more flexible on price.  If you are interested in living in The Glen, please call me at 847-401-1802 or send an email to margaret.ludemann@cbexchange.com.  I live in The Glen, and know this market inside and out.

Margaret Ludemann

Glen Resident and Coldwell Banker Realtor

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