April 1, 2024

NEW EASTSIDE SPRING INVENTORY: LOCAL MARKET INSIGHTS

April 1, 2024

NEW EASTSIDE SPRING INVENTORY: LOCAL MARKET INSIGHTS

NEW EASTSIDE SPRING MARKET 2024 

As a seasoned real estate agent in the New Eastside, I have been closely monitoring the market trends and statistics to better guide my clients in making informed decisions. The data from the first quarter of 2024 shows some interesting developments compared to the previous years.

In the first quarter of 2024, there were 99 new listings, 64 contracts, and 37 closings in the New Eastside. This is a slight increase in new listings compared to 2023, but a decrease in contracts and closings. However, when compared to 2022, there is a significant decrease in contracts and closings. This could indicate a slightly slower market in terms of transactions in 2024 compared to the previous years.

One important factor to consider is the average market time for closed sales. In 2024, the average market time was 130 days, which is slightly longer than in 2023 (123 days) but significantly shorter than in 2022 (184 days). This could suggest that properties are moving faster in 2024 compared to the sluggish market in 2022.

For potential buyers, this data may indicate that there is still a good selection of properties available in the New Eastside, but they may need to act quickly to secure a contract. For sellers, it may be important to price their properties competitively and stage them effectively to attract potential buyers in a slightly slower market.

Overall, the data provides valuable insights into the current state of the real estate market in the New Eastside. By understanding these trends, both buyers and sellers can make more informed decisions to navigate the market effectively. If you are considering buying or selling in the New Eastside, feel free to reach out to me for personalized assistance and guidance. Let's work together to achieve your real estate goals in the vibrant New Eastside community.

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New Eastside Living

Ginger Menne
737 N. Michigan Ave, Suite 1800
Chicago, IL 60611

ginger@gingermenne.com
Tel (312) 927-0852
Off (312) 216-5887
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