The Luxury Home Buyers In the Chicago Illinois area and on the Coasts are Few & Far Between..

According to NAR, the national share of home sales above $750,000 has fallen from 4.4 percent in 2007 to approximately 2.3 percent in 2009, and the months' supply of inventory has risen from 18.7 months to 41.1 months during the same period.

Here in Chicago's Northwest Suburbs - Luxury Homes are sitting on the market - despite frequent price drops.  

NAR looked at inventory in the higher price ranges ($750,000 and above) in May, comparing that month's supply with a year earlier. In May 2008 the month's supply was 17.6 months; in May 2009 it was 24.9 months.

In Hawthorn Woods Illinois - just three homes above 700k have sold in the past six months - though there have been 32 closings in the past six months (all below 700k).   There are 37 homes on the market in Hawthorn Woods - 700k and above out of 115 currently active.

In Barrington Illinois - there are 176 homes currently active at 700k and above - while just 27 have closed during the past 6 months.

The high end on the East Coast & West Coast is also suffering..though reportedly people are coming back into the market looking for bargains..

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As Exclusive Buyer Agents - we provide expert research and negotiation for home buyers and investors in the Chicago area. Unlike "buyer agents" - we are specialists, not generalists, and we are always 100% on the home buyer's side....

If you are thinking about buying / purchasing a home in the Chicago Illinois area, you should ensure that you have an agent that is on your side – looking out for your best interests.

Feel free to visit the Buyer Broker Chicagoland web site for more information.

Or call 847-566-7558 or Toll Free at 866-493-2842 or e-mail us to schedule a complimentary initial consultation – where we can determine if we can take you as a client.