As we approach Independence Day, it’s nice to have reminders about the freedoms we now enjoy…and possibly even take for granted. While our founding fathers fought for many things, one of those was the right of any American with the means to buy and sell property at will. From June 23rd-June 27th Chicagoans proved that they know the value of capitalism, since 106 properties sold to investors last week, marking the second best-selling week of the year so far!
Back in April, when the weather turned unseasonably warm and the sun shone all week, 107 properties sold to investors in one week. Now, a few months and a few more sunny days later, the Chicagoland area has broken 100 properties again, an almost 20 property increase from the previous week, when the 7 Chicagoland counties sold 89 properties at the auctions.
After having a slight dip in property sales during the week of June 16th-June 20th, Cook County had something to prove last week. Well, the county definitely cemented its status as the highest-selling county last week, with 60 properties sold to investors! Other counties that did well last week, include Dupage County, which sold 15 properties at auction and Will County, which sold 13 properties. Unfortunately, the high-selling rate in Cook County seems to have come at the price of fewer sales in other counties. The remaining 4 counties – McHenry, Kane, Kendall, and Lake – were unable to break into double digits last week.
Chicagoans, who seem to understand the importance of real estate so well, will hopefully continue to buy up foreclosed properties as we get closer to the heart of summer!