Over $155 million sold and over 420 happy homeowners Shaunna Burhop | Baird & Warner Real Estate Broker 210 W. Northwest Highway, Arlington Heights, Illinois 60004 shaunna.burhop@bairdwarner.com
August 2022 Newsletter Savor the Summer!
It’s important to slow down a bit and squeeze in every last ounce of fun. Vacations, pool time, festivals, and just soaking up the sun takes priority over making decisions about real estate—but it’s a great time to start the conversation before the fall. Call me at 847.275.0277 for a free consultation!
Market Update NORTHWEST SUBURBS* Detached, Single Family • Median Sales Price: $436,000 +3.8% • Average Days on Market: 21 -38.2% • New Listings: 802 -32.4% • Homes Under Contract: 504 -26.3% • Absorption Rate: 61.6% Attached, Condos + Townhomes • Median Sales Price: $235,000 +13.4% • Average Days on Market: 22 -42.1% • New Listings: 516 -42.6% • Homes Under Contract: 404 -13.9% • Absorption Rate: 100.1% *Statistics July 2022 v. 2021; (+) or (-) indicates change between the month of July 2022 compared to July 2021. Figures from MRED LLC. Info Sparks.
Calendar Saturday August 20, 4-7pm: Enjoy live music and beer or wine tastings paired with local snacks at Flights in the Park in Willow Stream Park, Buffalo Grove. More info at: bgparks.org/flights-in-the-park/
TREND REPORT:
Going bold with beige!
W
hile few hues culturally represent bland and boring quite so well, the new beige is deeper and more interesting, with none of the drabness of the 90s variety, according to home decor journalist Jill Glesson. It’s neutrality makes it a perfect color for spaces like kitchens and guests rooms, which can then be jazzed up with pops of color in your furniture and accessories. Since dark blue plays well with just about every color it’s paired with, and since the same is true of beige, it should come as no surprise that the two shades are a match made in heaven. “For a more traditional feel, navy is a perfect pairing with beige,” Brenna Morgan, owner and principal designer at Brenna Morgan Interiors, says. I couldn't agree more; one of my favorite pairings is with deep navy— so sleek and sophisticated! n
Get the Look
Mixing dark blues with beige creates a space full of warmth and sophistication.
Let’s Get Social!
Symons extra long lumbar cover, $39 at etsy.com
Scan this code to follow me on social media for news, design and market trends, connections to the community, and behindthe-scenes sneak peeks from real client stories!
Fergus round pouf, $159 at crateandbarrel.com
Morpho Swivel Armchair in navy blue velvet, $350 at target.com
STAGING + SELLING | SEARCHING + INVESTING | RENOVATIONS + DESIGN | RELOCATION + RETIREMENT | SENIOR LIVING + ESTATES
:
ION RATE
ABSORPT
NE 2022 E 2008–JU
While major sources report data such as pending contracts, the absorption rate is a better metric that represents the rate at which homes are selling. A rate over 20% is considered a seller’s market.
JUN
August 2022 Newsletter SOURCE:
p Group
The Burho
MARKET REPORT:
E
A Shifting Market?
To view an archive of previous issues and to read my new publication Open House magazine, please visit ISSUU.COM and search for Shaunna Burhop. — PHOTO CREDITS / OPPOSITE PAGE: (bedroom) Beccainteriors.com; (headshot) Something Blue Photography THIS PAGE: (headshot) Megan Berger
ASK TRACY:
verywhere you turn we are hearing about a “shift” in the market. And while it is true we are experiencing changes, the headlines add drama and often slant negative, so if you don’t dig into the details, it can be very misleading. For instance, there is no “national market” in real estate—true real estate data must be reviewed at a local level in order to be relevant to us. Headlines typically report only on inventory and contracts There is without giving perspective. A more valuable data point is called no “national the absorption rate—the rate at which listings are being sold or “absorbed” into the market over a given period of time. market” in This measure of supply and demand is calculated by taking real estate. the number of homes sold within a period (usually 30 days) and dividing by the total number of available homes. In our current environment of very low inventory and high buyer demand, you can see the absorption rate is significantly higher than it has been historically at this time of year. Seasonality is another critical element as the market behaves differently throughout the year. It’s helpful to compare data to the same month or seasonal period in the prior year rather than just month-over-month changes. I’m here to help! Reach out with any questions about the market or how it may impact your home sale or purchase plans. n
Which paint colors are best for resale? — Most designers hesitate to utter the word ‘beige’—but I love using warm whites as a soothing backdrop in any room. Some of my favorites are Sherwin Williams’ Alabaster or Snowbound, and Benjamin Moore’s Swiss Coffee or Dover White. Give them a try and let me know what you think!
FEATURED LISTINGS:
See a full aerial video here!
ONE OF THE BEST NORTHGATE LOTS 3236 N. Volz, Arlington Heights JUST LISTED: $524,900
WALK TO RECREATION PARK 13 N. Pine, Arlington Heights JUST LISTED: $489,900
SHAUNNA BURHOP is one of the top agents in the Chicago Northwest Suburbs, and she has consistently been recognized as one of the Top 10 Real Estate Agents in Illinois and also the Top Producing Agent at Baird & Warner NW Suburban. For more information on current listings, or to list your own home, call Shaunna today at 847.275.0277. If your property is currently listed, please disregard this solicitation. Information provided is not guaranteed and subject to change and withdrawal without notice. This newsletter is edited by Shaunna Burhop and designed by Adam Moroschan (adammoroschan.com), all rights reserved.
Tracy Bongiorno is an B&W realtor and associate of The Burhop Group.
BUILD YOUR DREAM ON ROLLING GREEN 1015 N. Forrest, Arlington Heights JUST LISTED: $1.2M