July 2023 Newsletter

Today’s Housing Inventory Is a Sweet Spot for Sellers

One of the biggest challenges in the housing market right now is how few homes there are for sale compared to the number of people who want to buy them. To help emphasize just how limited housing inventory still is, let’s take a look at the latest information on active listings, or homes for sale in a given month, as it compares to more normal levels.

According to a recent report from Realtor.com: 

 “On average, active inventory in June was 50.6% below pre-pandemic 2017–2019 levels.”

The graph below helps illustrate this point. It uses historical data to provide a more concrete look at how much the numbers are still lagging behind the level of inventory typical of a more normal market (see graph below):

It’s worth noting that 2020-2022 are not included in this graph. That’s because they were truly abnormal years for the housing market. To make the comparison fair, those have been omitted so they don’t distort the data.

When you compare the orange bars for 2023 with the last normal years for the housing market (2017-2019), you can see the count of active listings is still far below the norm.

What Does This Mean for You? 

If you’re thinking about selling your house, that low inventory is why this is a great time to do so. Buyers have fewer choices now than they did in more normal years, and that’s continuing to impact some key statistics in the housing market. For example, sellers will be happy to see the following data from the latest Confidence Index from the National Association of Realtors (NAR):

  • The percent of homes that sold in less than a month ticked up slightly to 74%. 

  • The median days on market went down to 18 days, showing homes are still selling fast when priced right. 

  • The average number of offers on recently sold homes went up to 3.3 offers.

Bottom Line

When supply is so low, your house is going to be in the spotlight. That’s why sellers are seeing their homes sell a little faster and get more offers right now. If you’ve thought about selling, now’s the time to make a move. Let’s connect to get the process started.

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

…at Keller Williams Success Realty last month.

In our area this month…

Summer has arrived!

Our market sits established in a strong sellers’ market, especially in Schaumburg and McHenry.

Across the NW Suburbs of Chicago, inventory remains low and competition remains high. But new listings continue to come on the market.

If you are considering selling your home, now might be your chance to snag all the benefits this market has to offer. Connect with me to learn more about your unique situation.

Extra Cheesy Chicken Sliders

Ingredients

  • 1 (12-ounce) package Hawaiian sweet rolls, such as King’s

  • 4 ounces sharp cheddar cheese (about 1 cup shredded)

  • 4 ounces low-moisture mozzarella cheese (about 1 cup shredded)

  • 1 clove garlic

  • 1 pound boneless, skinless cooked chicken

  • 4 medium scallions

  • 1/4 cup mayonnaise

  • 1/4 cup sour cream

  • 1 tablespoon Dijon mustard

  • 1/2 teaspoon freshly ground black pepper

  • 1/4 teaspoon kosher salt

  • 3 tablespoons unsalted butter

  • 1 tablespoon white sesame seeds, preferably toasted

Directions

  1. Arrange a rack in the middle of the oven and heat the oven to 350°F. Without separating the rolls, cut 1 package Hawaiian sweet dinner rolls in half horizontally with a serrated knife. Place the bottom half of the rolls cut-side up in a 9x13-inch baking dish.

  2. Grate 4 ounces cheddar cheese and mozzarella cheese (about 1 cup each). Place both cheeses in a medium bowl and toss to combine. Mince 1 garlic clove.

  3. Shred 1 pound cooked chicken into bite-size pieces (about 4 cups). Thinly slice 4 medium scallions (about 1 cup). Place the chicken, scallions, 1/4 cup mayonnaise, 1/4 cup sour cream, 1 tablespoon Dijon mustard, 1/2 teaspoon black pepper, and 1/4 teaspoon kosher salt in a large bowl and stir to combine.

  4. Arrange half of the cheese mixture onto the bottom half of the rolls in an even layer. Transfer the chicken mixture over the cheese and spread into an even layer. Top with the remaining cheese mixture.

  5. Place 3 tablespoons unsalted butter and the garlic in a small microwave-safe bowl and microwave until melted, about 30 seconds. (Alternatively, melt the butter on the stovetop.) Brush half of the garlic butter on the cut side of the top half of the rolls. Place the top half of the rolls over the sliders cut side down. Brush the tops of the rolls with the remaining garlic butter.

  6. Sprinkle with 1 tablespoon white sesame seeds. Cover the baking dish tightly with aluminum foil.

  7. Bake until the cheese is melted, 20 to 25 minutes. Uncover and bake until the rolls are lightly browned and toasted, 5 to 7 minutes more. Cut with the serrated knife to separate the sliders into individual sandwiches before serving.