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Are you thinking about moving to Illinois? This great state in the Midwest offers a dynamic economy, exciting cities like Chicago, and a variety of places to live that fit all budgets. This guide will give you everything you need to know about buying a house in Illinois.
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- The housing market in Illinois is competitive, with fewer houses available and higher prices than usual.
- A real estate agent is a valuable resource especially in a competitive market.
- It’s important to interview a few real estate agents before deciding.
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A Guide to Finding a Home and a Top Real Estate Agent in Illinois
Hot Housing Market in Illinois
The housing market in Illinois is currently hot, with fewer houses available for sale than in the past 16 years! This limited supply means that homes are selling quickly and at higher prices.
While the number of houses sold has dipped slightly, the average price across the state has increased by almost 10%, reaching $282,000. So, if you’re looking to buy, be prepared for some competition.
Finding Affordable Homes in Illinois
While Chicago is a fantastic city, many other areas in Illinois have affordable housing options. If you’re looking to save some money on your new home here are a few great places to consider:
Rockford
Located near Chicago, Rockford is a suburb with a median home value of around $153,500, well below the national average. This makes it an excellent choice for first time homebuyers or those looking for a more budget friendly option.
Springfield
The capital of Illinois, Springfield offers a charming small-town atmosphere and even more affordable housing options, with a median home price of $155,000.
Peoria
Situated between Springfield and Chicago, Peoria boasts the most affordable housing prices on this list. The median home value is just $122,300, making it a perfect option for those looking to stretch their dollar.
Choosing the Right Real Estate Agent
Having a real estate agent on your side is a must, especially in a competitive market like Illinois. A good agent will help you navigate the buying process and find the perfect home for your needs in best price. Here are some of the top real estate companies in Illinois to get you started in your search:
The Koleno Group
Based in Chicago, The Koleno Group is an excellent choice for anyone looking to buy a home anywhere in Illinois. They have a proven track record with a whopping $660 million in sales last year and their team has experience working in all parts of the state.
The Dawn McKenna Group
This group is perfect for those looking in the Chicago suburbs. With over $3 billion in sales, they are experts in the area and focus on affluent areas like Hinsdale, Lake Forest, and Winnetka.
Lowe Group Chicago
Lowe Group Chicago is a good option to consider if you’re interested in a new construction home or a single-family home. They specialize in trendy Chicago neighborhoods like Lakeview, Bucktown, and Lincoln Park.
Essential Tips Before Choosing an Agent
While this article highlights some of Illinois’s top real estate companies, it’s important to remember that these are just a starting point. Before you decide on an agent, take some time to interview a few different people. Here are some things to consider when interviewing real estate agents:
- Area Expertise: Does the agent have experience working in the area you’re interested in?
- Communication Style: Do you feel comfortable communicating with the agent?
- Availability: Will the agent be available to answer your questions and show you homes?
- References: Ask the agent for references from past clients.
Additional Resources
Here are some resources that you may find helpful in your Illinois home search:
Illinois Realtors
This website is an excellent resource for anyone seeking general information about the Illinois housing market.
Zillow
Zillow is a popular website that allows you to search for homes for sale nationwide including Illinois.
With careful planning and the help of an excellent real estate agent, you can be well on your way to housewarming in the Land of Lincoln.
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