The greater Rockford area is experiencing the best housing market in over a decade. While the effects of COVID – 19 may cause uncertainty about many things, the data tells us this may likely be the best time to sell a home.
May data show prices in our market increasing 8.8% over last year, nearly 4 times the national average. That is great news for Rockford and the surrounding areas. The rise in prices, coupled with the lowest recorded level of Inventory (homes currently for sale), means you can expect to get top dollar for your home, with a shorter time on the market.
In fact, Residents that have made the move to Wesley Willows or Peterson Meadows have had their home under contract in an average of just 24 days. The majority of homes sold in under 14 days. This 12-month comparison of our internal data from the Smart Move Program shows the same trend we are reading from the Rockford Realtors Association.
Rockford Area Realtors CEO, Conor Brown, was quoted June 29th saying “The housing market still needs more sellers in order to meet the surge in demand.” The shortage in homes for sale is leading to higher prices, and further bolsters the claim that now is the best time to make a move to one of the campuses of Wesley Willows.
Our Smart Move Program partner, Matt Humpal with RE/MAX Property Source, told us that he is “ …experiencing unprecedented competition from home buyers on homes I have listed this Spring.” Humpal went on to say “…clients are frequently seeing multiple offers that have been over, and sometimes well above the asking price in several affordable market segments.”
There is no way to predict the future of the housing market. Prices today are no guarantee of future pricing. We can say that what we see now, looks a lot like the height of the Real Estate market in 2006. If you are considering a move, we have confidence that using our Smart Move Program will deliver the best results on your home sale that we have seen in more than a decade.