Northern Illinois Real Estate Videos & Market Updates
Get straightforward real estate advice, housing market updates and local insights from The Kombrink Team. Our Northern Illinois real estate videos cover home buying, selling, home prices, mortgage rates, home equity and current market conditions throughout Geneva, St. Charles, Batavia, Aurora, Elgin, Naperville and communities across Kane and DuPage Counties.
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4 in 10 Homes Are Getting Price Cuts
More than 4 in 10 homes for sale have had at least one price cut, and the average reduction is around $17,000. For sellers, that’s a reminder that pricing correctly from the beginning matters. Start too high, and you may end up chasing the market down. For buyers, a price reduction can signal an opportunity. A seller who has already adjusted their price may be more willing to negotiate on price, closing costs, or other terms. Thinking about buying or selling in Geneva, St. Charles, Batavia, or the surrounding Fox Valley? Reach out to The Kombrink Team and let’s talk strategy.
More homes than you’d think are getting a price cut right now. Here’s what we're seeing. Price cuts have climbed for seven straight months.
More than four in ten homes for sale have had at least one, and sellers are cutting about seventeen thousand dollars off their original price (on average). Now, almost every cut comes down to the same thing – the price was set for a market that’s already moved on. And the seller’s playing catch up.
Here’s how we’d use that to give you an edge.
If you’re selling, knowing this up front is key. It shows you’ve got to get your number right from day one.
If you’re buying, a home that’s already had a price reduction could be exactly what you want. It means the seller’s ready to make a deal.
Want to know what this means for your price or your offer? Reach out to The Kombrink Team today.