The weather isn’t the only thing that heats up as spring approaches. The real estate market starts popping up like the flowers in the garden, the grass on the lawn, and the leaves on the trees.
“This is the perfect time to start thinking about entering the market,” says Joanna Koperski, an agent with @properties in Lake Forest. “Both buyers and sellers have the opportunity to reap the benefits of the market’s enthusiasm and excitement as we anticipate the good fortune from the new year.”
Spring traditionally sees the highest number of new listings, and buyers who start their search early are more committed to make the transition to a new home. This year offers some particular motivations for buyers to start their searches in February and March.
“As 2020 is an election year, it’s critical to keep in mind that the latter part of the year will be absorbed both politically and economically by it,” says Koperski. “Currently, interest rates are prognosed to stay at record lows and the economy is strong, which is good news for both buyers
and sellers to participate in the market as soon as possible.”
An especially motivated group of buyers in spring are parents with school-aged children. For sellers, it’s an advantage to have their homes on the market when this group starts doing their home shopping.
“An interesting component of the early buying pool are families with children who will often choose to begin their home searches in advance, researching neighborhoods and school districts and hoping to settle themselves in their new homes before the summer crunch,” Koperski says. “Listing a home early allows it to become one of the first available properties to be considered by this very active group of buyers.”
Another group of buyers becoming more active are millennials, who are now the largest group of buyers in the market for homes on the North Shore. With easy access to downtown jobs via the Metra and amenities such as forest preserves, lake beaches, and quality schools, the region is increasingly appealing to younger buyers.
“The current economic outlook has opened the door for many groups of prospective buyers seeking more substantial home purchases and a great number of millennials are looking to upgrade from their city condos and move into their first homes, attracted to the North Shore,” Koperski says. “With these new buyers come new demands with their property searches—top finishes, newest conveniences, fully upgraded, and neutral tones. These buyers have little time and patience to spare for extra time on the property of their choice.”
For all groups of new buyers, Koperski brings a data-driven approach to helping clients find the right buyers and helping buyers find the right home. She says buyers are increasingly sophisticated in how they’re using online search but her access to customized search engines such as Real Scout and the proprietary search engine of @properties offers her clients an edge.
It’s her love and knowledge of the North Shore—leading to a poetic way of describing seasonal transitions—that might just be her ace in the hole for clients.
“Lake Forest and the North Shore are beautiful all times of the year. However, the approach of spring brings a magical quality with it—the air carries the scent of an awakening earth, the sun is brighter, soft rains wash away winter grime and reveal greening fields and the first harbingers of spring,” Koperski says. “It’s a promise of rebirth and new beginnings.”
Joanna Koperski is with @properties, 600 N. Western Avenue in Lake Forest, 847-668-0096, atproperties.com.