There are three reasons why Chicago buyers buy during real estate’s “offseason.”
Chicago buyers are unique in that they buy during real estate “offseason,” and there are three reasons why.
First of all, life happens all year-round—engagements happen, kids go off to college, etc. When life happens, people’s needs change and they’re ready to take action.
Second, residents don’t let the weather stand in their way. Here in Chicago, we all know to throw a blanket and shovel in our car once winter arrives. When the need arises for a new home, we’re similarly more likely to bundle up and visit open houses. You’d be surprised how many open houses I’ve hosted that featured stacks of boots in the entryway. No matter what, things move forward in our market.
When life happens, people’s needs change and they’re ready to take action.
Third, school districts aren’t as much of a determining factor. Many people have moved to Chicago in recent years from places where the school districts drove real estate transactions, but here things are different because we have magnet schools. Additionally, many families have kids who attend private schools. This means moving doesn’t necessarily mean a school change.
This doesn’t mean certain areas aren’t highly sought after because of their schools, but city-wide, it doesn’t matter as much as far as real estate goes. This means more people are willing to move after school starts and before the new year begins.