Friday, July 9, 2010

A one month snapshot of Western Springs Sales

As you all know by now I live in Western Springs, I sell houses in Western Springs, I am a member of the Western Springs Business Association, I volunteer in Western Springs, I raised my family in Western Springs, etc. It appears to me that I need to get out a little more!!

The purpose of my blog is to keep everyone informed on the current trends in real estate. I have been a full-time realtor since 1978. I have seen many changes over the years. There was a time when rates went up to 16% and the only deals being made were contract sales. There were the glory days for the sellers where multiple offers were the rule rather than the exception. Prices rose for almost all of the years that I have been a full-time realtor. Around 2005-2007 the peak was reached and the story has changed. I would have thought it would have happened sooner but it didn't. Like many buyers I got caught in it too. I bought a home in Western Springs in 2007 and completely remodeled it. 2 1/2 years later we are selling it for a major loss.

In comparison to other areas I still think Western Springs has held up far better than most. Sales are being made and even though many people have sold for less than they paid the drop is relatively small (unless you are the seller).

Here's what happened in the last 30 days: 12 single family homes closed-6 for 500,000 or less, 2 between 500-1,000,000 and 4 closed at over a million. In my opinion the Western Springs housing market is healthy. If you are thinking of buying or selling please give me an opportunity to give you my opinion. Linda Hanley Kelly, Charles Rutenberg Realty, 708-334-5356


  1. Great Post. What's the largest piece of land for sale in Western Springs?

  2. There seems to be a large number (over 20) homes ""under contract"/contingent. Is this a high number for WS? I imagine many of these sales are contingent on sale of the buyers home......which sets up a domino effect.

  3. When the market is not a seller's market contingent offers become more the norm. Buyers don't have the same confidence they used to have that their homes will sell and lenders aren't as quick to lend money to carry them over.