Detached,
• Median Sales Price: $501,500 +9.0%
• Average Days on Market: 26 +8.3%
• New Listings: 610 -3.9%
• Homes Under Contract: 425 -4.5%
• Absorption Rate: 75%
We just can’t seem to get enough of the Summer Olympics and are dreaming of a stroll down the Seine while cheering on the amazing athletes. If you find yourself dreaming of owning a pied-à-tierre closer to home, we can make that happen! Call us anytime at 847.275.0277.
WITH ALL EYES ON THE PARIS OLYMPICS watching these incredibly talented athletes from all over the world come together to compete in a city of high fashion, we thought it would be fun to take a look at what makes Parisian interior design seem so chic.
According to Melissa Sanabria, founder and principal of Sanabria & Co.: “The hallmarks of a quintessential Parisian apartment are decorative applied molding on the walls, herringbone floors, marble fireplace mantel with a gilded mirror above, and usually a statement pendant or chandelier” she explains. “A Parisian design aesthetic is about mastering a mix of traditional and modern minimalism.”
Pops of gold and bronze metals as well decorative molding and ceiling medallions are easy ways to incorporate some French flair into your space, and we often add these elements in when staging a home for sale. Medallions are available in lots of sizes and designs and come in handy when trying to replace a light fixture with a smaller base than the original. We recommend those made of PVC ,and painting to match your ceiling—crown-molding.com carries great options. n — Shaunna Burhop
Photo: Courtesy of Morgan Levy / Source: marthastewart.com
Attached,
• Median Sales Price: $268,000 +3.5%
• Average Days on Market: 22 +0.0%
• New Listings: 511 +25.2%
• Homes Under Contract: 375 +7.4%
• Absorption Rate: 98%
AUG SENIOR OUTDOOR MOVIE NIGHT We’re partnering with Wintrust’s Platinum Adventures to bring you the classic Singin’ in the Rain. Don’t miss a great show and of course FREE treats and giveaways from the Burhop Group. For more information and to register visit TheBurhopGroup. com/Events.
W<< In 2024’s first quarter, the average mortgaged homeowner added $27,958 in equity year-over-year. This jumped 9.6% annually and amounted to a combined $1.5 trillion gain in home equity for U.S. borrowers.
ITH SO MANY TYPES OF NUMBERS REPORTED for the housing market it is often difficult to understand the impact it has on you. The one thing that seems very clear is that homeowners’ equity has gone up a lot over the past year due to rising home prices. Equity is the current value of your home minus what you owe on the loan.
According to the latest Homeowner Equity Insights from CoreLogic, the average Illinois homeowner’s equity has grown by $27,000 in the last year alone. As buyer demand continues to outpace the amount of available inventory, prices and owner equity have been rising.
>> As buyer demand continues to outpace the amount of available inventory, prices and owner equity have been rising.
If you bought your house before the pandemic, the equity news is even better. According to data from Realtor.com, nationally home prices shot up by 37.5% from May 2019 to May 2024, meaning your home’s value has likely increased significantly. However, before you start using these numbers to calculate your own equity windfall, it’s important to note that real estate trends happen on a very local level. I took a look at these trends for a three-month period ending with June 2024 vs. June 2023 for a few of our area suburbs, and noted distinctive differences—next month I’ll share the results. In the meantime if you have questions about your own home, feel free to reach out anytime. n — S.B.
If you have questions or need more info, please email me at: shaunna.burhop@bairdwarner.com.
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