In this episode, Dave discusses the current real estate market through May 2023. Key Takeaways: So far, the northside neighborhoods have had a better year than much of the city. As a whole, supply is down about 15%, but demand is down almost twice that across all of Chicago. Interest rates are driving both the low supply and the lower demand. Supply and demand for condos is not as hard luck as for single-family homes. "Affordability is driven by interest rates. And so if interest rates go down, then that is going to help sales, shorten market times, and sales-to-list ratios are all going to be better. All those things are going to be benefited by interest rates falling." — Dave Nimick Connect with Dave Nimick: Website: https://thenimickteam.com/ Email: dave@thenimickteam.com LinkedIn: https://www.linkedin.com/in/davenimick/ Facebook: https://www.facebook.com/thenimickteam Dave Nimick is owner of The Nimick Team, Inc. with Keller Williams Realty Show notes by Podcastologist: Chelsea Taylor-Sturkie Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.
In this episode, Dave discusses the current real estate market through May 2023.
Key Takeaways:
"Affordability is driven by interest rates. And so if interest rates go down, then that is going to help sales, shorten market times, and sales-to-list ratios are all going to be better. All those things are going to be benefited by interest rates falling." — Dave Nimick
Connect with Dave Nimick:
Website: https://thenimickteam.com/
Email: dave@thenimickteam.com
LinkedIn: https://www.linkedin.com/in/davenimick/
Facebook: https://www.facebook.com/thenimickteam
Dave Nimick is owner of The Nimick Team, Inc. with Keller Williams Realty
Show notes by Podcastologist: Chelsea Taylor-Sturkie
Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.