Oswego, IL Has 33.3% Drop in Inventory in October, 2017

//Oswego, IL Has 33.3% Drop in Inventory in October, 2017

Oswego, IL Has 33.3% Drop in Inventory in October, 2017

The low inventory situation continues as Oswego, IL‘s detached home listings dropped 33.3% from October, 2016’s level.  In 2016 there was a 5.0 month supply of detached single family homes compared to October, 2017’s 3.3 months of supply.  This bodes well for sellers that currently have their homes on the market or are planning on selling during the fall/winter quarter.

There are 115 active listings currently, plus 13 with price changes, 3 New listings, and 3 reactivated listings.  There are 53 homes under contract with some form of contingency and 13 homes that are ready to close in the next few weeks.  In October we had 42 sold homes compared to 39 in October, 2016.  This despite lower inventory levels bodes for a strong market in Oswego, IL.

Year-to-date closings are down compared to 2016’s 531.  As of today 11/1/2017 we have 484 sold homes year-to-date.

Traditionally the fall/winter season sees a slow down in home sales as the holidays and cold weather take the urgency off from both buyers and sellers.  Still there are buyers that are driven to buy during these months because of the lower competition, the usual willingness of sellers to negotiate for lower prices or because they have to relocate due to a job transfer and their new jobs start at the beginning of the year.

Have a question regarding your home and today’s real estate market?  Give Heart Realty Group a call!

About the Author:

Managing Broker/Owner of Heart Realty Group in Oswego, IL. With over 25 years of experience in residential real estate in Aurora, Montgomery, Oswego, Naperville and surrounding towns. I am passionate about helping my clients achieve their real estate goals. Besides real estate I love technology, a good book and the beach!

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