Last month, fewer than 17,000 single-family homes were listed for sale in the Chicago area, the lowest number since 2008, according to Midwest Real Estate Data. A year ago, there were 32,600 homes listed for sale in February 2020. There are so many buyers and not as many homes for sale.
Because of the lack of inventory, home sales and prices are surging. More than 7,000 homes were sold in the Chicagoland area in February, up 14.7% from February 2020. The median sales price rose 12.5%, according to the Illinois Association of Realtors.
People are saying that there are not enough homes on the market that suits their needs. Buyers love variety, and there is not an assortment of homes to choose from.
Some homebuyers are looking to have their dream home built due to the current lack of homes for sale. The surge in demand for area properties last year has continued into 2021 — and it’s being met with fewer and fewer homes for sale.
Since the pandemic, many people have moved from the city to the suburbs. They are spending extra time at home and wanting more space, indoor and outdoor. People want a home with a backyard where they can relax on the deck or patio with family and friends. A home office and laundry room are also popular for homebuyers.
Advantages of Building a Home
So, should you build your own home? The biggest advantage of building a home is that you can get exactly what you want, as long as it fits in your price range. Since you’re building the home from the ground up, you can customize the home from creating the layout, choosing the flooring, picking the colors, and customizing features to meet your needs.
There are advantages to building a home. You can make the doorways wider, so they are wheelchair accessible. Other advantages of building a home include:
- Newer homes are more energy-efficient.
- No need to worry about repairs and replacements because everything is new.
- New homes won’t be made with toxic materials like asbestos or lead paint.
Illinois Home Builder
Albrite Building is a top-rated custom home builder in Westmont, Illinois. We will work closely with you to understand your needs and design a home that complements your lifestyle. We believe your new home should be more than just a place to live, it will be a place to make memories that will last a lifetime.
If you are looking for a custom home builder or home remodeling company, contact Albright Building today! Albrite Building is located at 777 Oakmont Lane, Suite 50, Westmont, Illinois 60559. You can contact our office by phone at 630.655.9436 or contact us by email.