In Chicago the surprising real estate momentum from January has carried through February and we are now seeing what is essentially an early spring market as sales activity continues to build.
This is great news for sellers and not quite as great news for buyers as many properties priced correctly are receiving multiple offers. Despite the momentum we have noticed that the quality of the inventory is not particularly good, so when nice properties come up they are selling very fast often at or near list price.
We are very pleased to report that two of our sellers have chosen to use our Compass Concierge program to refresh and stage their homes before listing! This has translated into enormous interest from buyers even during the pre-marketing period. We cannot underscore enough the importance of presenting your home in it's best possible light when you list it for sale, the return on this investment is almost always over 100%.
We are looking forward to seeing how the remainder of 2020 plays out and continue to be optimistic about the future value of Chicago Real Estate as this amazing city continues to develop and grow.