Hey there, Elgin!

It's The Kombrink Team, your go-to REALTOR® team for all things real estate in our wonderful city.

Today, we've got some exciting market updates for you all, so let's dive right in.

Current Market Overview

As of July 2024, we currently have a 1.32 Months Supply of Inventory in Elgin.

That means we're seeing a slight decrease of 10.8% in inventory over the last 12 months, making it a competitive market for both buyers and sellers.

Months supply of housing inventory Elgin IL July 2024

Selling in Elgin

But here's the good news - the List to Sold Price percentage is at a solid 101.3%, showing that homes in Elgin are selling for above asking price.

And with a median days on market of just 11 days, homes are flying off the market faster than ever.

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Retirement is a time for relaxation, adventure, and enjoying the things you love. As you imagine this exciting new chapter in your life, it's important to think about whether your current home still fits your needs.

If it's too big, too costly, or just not convenient anymore, downsizing might help you make the most of your retirement years. To find out if a smaller, more manageable home might be the perfect fit for your new lifestyle, ask yourself these questions:

  • Do the original reasons I bought my current house still stand, or have my needs changed since then?
  • Do I really need and want the space I have right now, or could somewhere smaller be a better fit?
  • What are my housing expenses right now, and how much do I want to try to save by…

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Hey there, Aurora!

It's The Kombrink Team here with an exciting market update for July 2024.

Inventory and Competition

Let's dive into the numbers, shall we?

Currently, we have a tight 1.15 Months Supply of Inventory here in Aurora.

Months supply of housing inventory in Aurora, IL for July 2024

That's a decrease of 6.5% compared to the last 12 months.

What does this mean for buyers and sellers?

Well, competition is fierce.

Sellers are seeing their homes fly off the market at a list-to-sold price percentage of 102.3%.

Quick Sales

And for those of you looking to sell, the median days on market is only 6 days.

That's right, your home could be sold in less than a week!

Price Trends

The median sold price in Aurora is currently sitting at $340,000.

This shows…

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In life, patience is a virtue – but in the world of homebuying, waiting too long in hopes of finding the perfect home actually isn't wise. That’s because the pursuit of perfection comes at a cost. And in this case, that cost may be delaying your dream of homeownership. As Bankrate explains:

“One of the most common first-time homebuyer mistakes is looking for a home that checks each of your boxes. Looking for perfection can narrow your choices and lead you to pass over good, suitable options for starter homes in the hopes that something better will come along.”

The Cost of Holding Out for Perfection

Nothing in life is ever perfect – and that's true when you search for a home too. Unless you’re building a brand-new home from the ground up, chances…

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If you’re thinking about selling your house, here’s something you really need to know. Even though it’s still a seller’s market today, you can’t pick just any price for your listing.

While home prices are still appreciating in most areas, they’re climbing at a slower pace because higher mortgage rates are putting a squeeze on buyer demand. At the same time, the supply of homes for sale is growing. That means buyers have more options and your house may not stand out as much, if it’s not priced right.

Those two factors combined are why the asking price you set for your house is more important today than it has been in recent years.

And some sellers are finding that out the hard way. That’s leading to more price reductions. Mike Simonsen, Founder…

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Hey there!

Looking for luxury living in the Chicagoland area?

You've come to the right place.

Let's dive into the top 10 suburbs with the most million-dollar homes currently on the market.

1. Naperville

Naperville tops our list with 76 million-dollar homes. The average list price here is $1.64 million.

Why Naperville?

  • Excellent schools.
  • Vibrant downtown.
  • Beautiful Riverwalk.

This suburb offers the perfect blend of suburban charm and urban convenience.

2. Lake Forest

Next up is Lake Forest, with 73 million-dollar listings, averaging $2.32 million.

What makes Lake Forest special?

  • Picturesque views of Lake Michigan.
  • Historic homes.
  • Top-tier private schools.

It’s a haven for luxury buyers.

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Are you searching for the perfect home in a community that blends charm, convenience, and a vibrant lifestyle? Look no further than Geneva, Illinois! Known for its picturesque neighborhoods, top-rated schools, and rich local culture, Geneva offers an ideal setting for families, professionals, and retirees alike. Here’s why Geneva should be at the top of your list and how The Kombrink Team can help you find the home of your dreams.

Why Choose Geneva, IL?

1. Beautiful Homes: Geneva boasts a diverse array of homes, from historic Victorian houses to modern new builds. Whether you're looking for a cozy cottage or a spacious family home, Geneva's real estate market has something to offer for every taste and budget.

2. Top-Rated Schools: Education is a…

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1404 Harvell Dr, Batavia, IL

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$ CLICK FOR CURRENT PRICE 4 BEDROOMS 3 BATHROOMS 0.39 acres Lot

Welcome to 1404 Harvell Dr, an exquisite 4BR/2.1BA brick and cedar two-story home nestled in the prestigious Harvell Farms of Batavia, Illinois. This stunning property boasts a professionally landscaped lot with mature trees, providing a serene backdrop that backs to the Mooseheart Preserve. A concrete drive leads to the spacious three-car attached garage and a charming front porch, while the private backyard features a large deck perfect for entertaining. Inside, you'll find elegant vaulted…

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334 S Jackson St, Batavia, IL

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$ CLICK FOR CURRENT PRICE 3 BEDROOMS 2 BATHROOMS 0.12 acres Lot

Welcome to 334 S Jackson St, a beautifully maintained 3BR/2BA ranch duplex in the desirable Bellevue Estates of Batavia, Illinois. This charming home features a landscaped and fenced lot, providing privacy and a serene outdoor space. The concrete drive leads to a convenient one-car attached garage. Enjoy the inviting front patio and the brick paver patio in the backyard, perfect for outdoor gatherings, along with a handy storage shed. Inside, you'll find engineered vinyl plank flooring…

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Even if you didn't own a home at the time, you probably remember the housing crisis in 2008. That crash impacted the lives of countless people, and many now live with the worry that something like that could happen again. But rest easy, because things are different than they were back then. As Business Insider says:

“Though many Americans believe the housing market is at risk of crashing, the economists who study housing market conditions overwhelmingly do not expect a crash in 2024 or beyond.”

Here’s why experts are so confident. For the market (and home prices) to crash, there would have to be too many houses for sale, but the data doesn't show that’s happening. Right now, there’s an undersupply, not an oversupply like the last time – and that’s…

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