Get Your Tinley Park Home Value

Monthly Price Evaluation Updates to Easily Track Your Home Value Overtime

Price on homes, condos, and townhomes in Tinely Park is a moving target and can change from one month to the next depending on several factors. This home report will give you a monthly update so you can track your home's value and your neighborhood over time. Whether you plan on moving, refinancing, or just curious about real estate property values, this is the perfect tool to keep you updated. There is no cost or obligation; request access by entering your property's address above.

Understand Equity Position

Equity on your real estate property is the difference between the current market value for your Tinely Park property and what you currently owe your lender if you owe your lender. This report will give you insight into your equity position so you can make an educated decision.

Increase Equity, Decrease Interest Payments and Reduce Loan Term

Making extra payments to your home mortgage either monthly or annually, you can increase equity, decrease interest payments and reduce the length of your mortgage, all without having to refinance and pay additional closing costs. This report will give you a quick and easy tool to calculate this. Making extra payments could save you thousands and is a tremendous wealth-building strategy over time.

Tracking Market Conditions

Check out the map surrounding various zip codes and areas, giving you some insight into market conditions. This tool could help you figure out which neighborhood or city you like.

Refinancing Options and Pre-Qualifications for Home Purchase

Use currently available data around current market conditions to help you with home and real estate refinancing or home loan pre-qualification for a purchase.

Hyper Sellers Market

If you are a homeowner in Tinley Park, Illinois, this should be good news for you. Sellers have an advantage right now, and we are in what I like to call a hyper-sellers market. For a home seller putting their real estate on the open market in Tinley Park today, if marketed correctly, you can expect a quick sale and, in many cases, at or above list price offers on your home. These results are not that uncommon in this type of market so long as you position yourself correctly.

Recently I was able to negotiate a sale on a Tinley Park Brookside Glen property for $13,000 above the list price. A combination of a market that favors homeowners, pricing strategies, including innovative marketing designed to build demand, interest, and exposure with the highest value results. For the best results, contact Raymond Kennedy at (815) 301-7007 if you are looking to leverage the highest sale price for your home and residence.

Understanding Market Conditions

There are generally three types of markets in the real estate world. Market supply and demand are what dictates the current market conditions. This type of analysis compares the number of buyers vs. the number of available units or properties for sale on the market. Here are the three types of markets and their characteristics:

Sellers Market

1. Lack of available inventory, more buyers than homes.
2. Real Estate prices are generally increasing in value.
3. Homes sell a lot quicker than other market types.

Buyers Market

1. Surplus of inventory, more homes than buyers.
2. Real Estate prices are generally decreasing in value.
3. Homes sell a lot slower than other market types.

Balanced Market

1. The number of homes on the market and inventory is roughly equal to buyers in the market.
2. Real Estate prices don't have any significant fluctuation.
3. Homes have a reasonable time on the market.
4. A balanced market is generally considered a healthy market.

One Metric Used to Determine What Type of Market We are In

We can look at market times of properties that have recently taken contracts and sold; this can be misleading. Even in a real estate market, some homes are priced outside of the market that can skew this. One metric we use to determine what kind of market we are in is an absorption rate or monthly supply. To calculate this, you estimate the number of months it would take before the market's current homes would sell. So if the month's supply of homes on the market is two months, we are in a seller's market. If the months of supply are 9 or 10 months, that is likely a buyers market. Right around, give or take six months, is what we consider a healthy market.

Currently, at the time of writing this, Tinley Park has roughly 1 - 2 months of supply, making it a hyper-seller's market. The number of properties under contract almost double the currently active or sold, which gives an indication the velocity of sales in the Tinley Park Cook County area is not slowing down.

Sales velocity and market supply in Tinley Park, Cook County, and Illinois will often depend on factors such as specific property types, including single-family homes, townhomes, and condominiums. It could also vary by neighborhood, price range, among other variables. It is important to contact me if you are looking for a custom comparative market analysis, so you are getting the right information to determine if it makes sense for you to sell.