Hey Wheaton neighbors and future residents! We’re excited to bring you some vital market updates that could significantly influence your buying or selling decisions in today’s dynamic real estate environment.

Current Market Overview

The local real estate scene is tighter than ever, with the Months Supply of Inventory (MSI) now at a mere 0.46 months. To put it into perspective, that's a dramatic 75.14% drop from last year. This significant decrease means we are in a seller's market, so if you're contemplating listing your home, it's an excellent time to do so. For sellers, this could be your golden ticket to a profitable sale as demand outstrips supply.

What Buyers Should Know

For buyers, the heat is on! With homes selling for an average of 101.4% of their list price, expect to compete with multiple offers. But don’t let this discourage you. With a well-planned strategy and the right team by your side, you can still secure a great home within your budget. Remember, being prepared to act swiftly and offer competitively will be key in securing your dream home in Wheaton.

Wheaton IL list to sale ratio April 2024

Speed of Sales

Thinking about selling? Here’s more good news: the median days on market is just 13 days! Homes are selling faster than ever, meaning you can anticipate a quick sale, reducing the hassle and stress often associated with selling a home. This fast-paced market underscores the importance of having everything in order, from your listing details to your future relocation plans.

Wheaton IL real estate market time April 2024

Price Points to Consider

Lastly, let's talk numbers. The median sold price in our area is currently $445,750, indicating a robust and flourishing market. This figure helps both buyers and sellers gauge what to expect in terms of pricing, whether setting a listing price or planning a purchase budget.

Wheaton IL median home Sold price April 2024

Stay Informed and Ready

Whether you're looking to buy or sell, staying informed and proactive in this market is crucial. At The Kombrink Team, we're here to provide you with all the expertise and guidance you need to navigate these exciting yet challenging market conditions.

That wraps up our market update for Wheaton. If you have any questions or are ready to make your move in the Wheaton real estate market, don't hesitate to contact us. We’re here to help you every step of the way. Thanks for reading, and we look forward to assisting you soon!

Posted by The Kombrink Team on


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