From bidding wars and increasing home values to adjustments in mortgage rates, real estate nationwide has changed throughout the year of 2013. Chicago Magazine and Dennis Rodkin’s article called “How to Win a Bidding War on Chicago Real Estate” recalls the amount of “bidding wars of houses, which were rampant mid-last year may come back this spring” of 2014. Being we are entering into the start of the new year of 2014, let’s take a look at what could be coming ahead. According to the National Association of Home Builders (NAHB), the nationwide housing market is running at 85 percent of its normal activity. But what does this add up to for Hinsdale luxury real estate listings in the New Year?
The Allure of Hinsdale Exclusive Real Estate Properties
It’s no secret that Hinsdale’s exclusive real estate properties are a cornerstone of the affluent community nestled about 30 minutes outside of Chicago. What may be a lesser-known fact is that historically for 2013, the median sold property price for Hinsdale listings and luxury homes has risen steadily – by nearly $100,000 from the start of the year. Statistical comparison data provided by MRED. Hinsdale’s home buying and selling popularity we predict will continue for 2014 and Hinsdale will likely continue to be a Chicagoland hot spot for real estate.
Miller + Miller Real Estate are real estate brokers and realtors specializing in the sale of luxury homes & properties, custom built homes, mansions, Victorian’s, and other fine properties. Contact us for more about Hinsdale real estate, current homes for sale, area market statistics, or information about selecting Miller + Miller to list your Hinsdale home.
As a Hinsdale Realtor team, in 2014 we will be working closely with Hinsdale homeowners and luxury real estate developers to analyze the median listing and sold prices on exclusive properties. If history has anything to say about it, it looks like we could be in for a promising future.
Send an email to Ryan and Sarah Miller of Miller + Miller Real Estate to discuss properties & homes currently for sale and local market information. Miller + Miller is your specialist for luxury homes in-and-around Hinsdale Illinois.
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Published Date: 2-20-14
Sources:
National Association of Home Builders 12/15/13 News
Midwest Real Estate Data (MRED)
Chicago Magazine “How to Prepare Yourself for the Possibility of Bidding Wars This Spring”