Re: Chicago Real Estate

Chicago July 2016 Newsletter

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Chicago Family,

June was a great month! Median sales price rose almost 3%. Homes under contract jumped by 10%. That means inventory is really moving out there. July and August will be a wonderful time to sell. Buyers are eagerly watching for that perfect listing. Listing a home is an art form, and I love to showcase my creations!

Let's keep the market going!

-Joshua

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Joshua T. Novy
Broker Associate

Referrals are the greatest compliment, and a huge part of my business. I will treat your referral like family.

Most Realtors are in the Real Estate business. We are in the PEOPLE business.

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May home sales were a mixed bag. Existing Home Sales remained solid while New Home Sales suffered quite the setback.

The National Association of REALTORS® reported that May Existing Home Sales rose by 1.8 percent to an annual rate of 5.53 million, above the 5.50 million expected. The median home price jumped 4.7 percent from a year ago to $239,700. Existing Home Sales also were up 4.7 percent from May of 2015.

On the other hand, May New Home Sales fell from an eight-month high due to weakness in the South, Northeast and West, the Commerce Department reported. New Home Sales fell 6 percent from April to an annual rate of 551,000 units, below the 560,000 expected. April's figure was revised lower to 586,000 from the 619,000 originally reported, but was still the highest amount since February 2008.

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Joshua T. Novy - Broker Associate
TeleQuest Realty - 773.454.5595 - joshua@novyknows.com
"Experience... NOW more than ever!"

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1255 N. Clark St. #1601 Chicago, IL 60610

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TeleQuest Realty · 47 W. Division St · Chicago, IL 60610 · USA