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Good Under Contract Data March Bolingbrook Plainfield
With all the data available, there is only one stat that looks to the future rather than the past; that is homes "under contract". With this number we can peek into how the market is shaping up in the near months. This time last year saw a decrease in the number of homes that were being sold. It seems people are feeling better this year for a variety of reasons.
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Bolingbrook is on fire with nearly 20% increase of homes going under contract this past month. Plainfield remains steady with a modest increase over last year but still off the pace from 2016. It will be interesting to see how April performs with the cool weather forecast for the first part of the month.
Now contrast that date with the number of home that closed during March; it's a bit surprising.
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Plainfield and Bolingbrook are both down not only from last year but 2016. There are a couple of things that have influenced this decline. The supply of homes is under 2 months and has been for both communities since late 2017 and therefore there are fewer homes available to purchase. As a result, higher prices are making affordability an issue that was not there before. The good news is in the increase of homes under contract for last month. Things are getting interesting in our communities. If you have questions or are interested in buying or selling, let's have a talk. That's what I do.
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