Prospect Equities®

Please join us in welcoming our newest team member, Shuyu Jia, to Prospect Equities as a Software Engineer on our Tech Operations Team. Currently pursuing a degree in Computer Science at the University of Chicago, Justin brings a wealth of expertise in Java, Python, JavaScript, Golang, and C , paired with extensive experience in full-stack web development and software engineering. Justin’s impressive academic achievements and his proactive approach to technology, especially his interest in real estate software solutions, make him a valuable addition to our team. At Prospect Equities, Justin will lead the development of a proprietary transaction management system and spearhead the design and construction of our new website. He is also excited to enhance our tech capabilities by implementing a Single Sign-On system, allowing seamless access to all PE applications with a single authentication step. We are thrilled to have Justin on board and look forward to his contributions in keeping Prospect Equities at the cutting edge of technology. Welcome, Justin! #prospectequities #prospectequities® #realestate #chicago

Welcoming our newest employee, Nik Sun, a recent graduate from Rice University and now with PE as a Data Scientist on our Tech Operations Team (TOT). Nik is deeply interested in mathematics and data analysis, and he intends to leverage the extensive and ever-growing data to uncover valuable insights in the real estate sector. While at Prospect Equities, Nik’s main responsibilities include developing cutting-edge solutions that would facilitate quick and easy retrieval of essential property indicators. His knowledgebase allows him to provide solid support to our agents and deliver strategic information to our investors. #prospectequities #newemployee

✨MARKET INSIGHT✨ April has seen a notch up in pricing and decreased market times. Also take note, the gap between original asking price and close price is starting to shrink. The opportunity does continue for Buyers to take advantage of current availability. The interesting take away is that the Spring market has, as typical, increased with inventory but even with interest rates not waning, buyers are buying closer to what sellers are asking. It is always important to have (the right) professional representation help you negotiate your price so that you do not overpay for property and use certain market conditions to your advantage. A professional agent is trained to handle the various facets of strategy, negotiation, and due diligence to get you to the finish line, successfully and with minimal stress. What are your thoughts on buying or selling a home in the current economic landscape?  #prospectequities #MarketInsight #RealEstate #Chicago

Discover firsthand why Prospect Equities® is the brokerage of choice for agents! Hear directly from our agents as they share their compelling reasons for choosing Prospect Equities®. From our unparalleled support and resources to our thriving community and commitment to excellence, we aim to make Prospect Equities® stand out as the premier destination for real estate professionals. #prospectequities® #realestate #chicago #Brokerage

✨MARKET INSIGHT✨ March has seen a decrease in market time and 20 % discounts from original asking prices in both single family homes and attached properties (condos/townhomes). The opportunity continues for Buyers to take advantage of current availability. It is worth noting that, historically, new inventory will populate the market in the upcoming months and potentially make buying opportunities more favorable, and as you can see from the February Market Insight, both units and prices have significantly increased month over month. If you are planning to sell this Spring, now may be an opportune time to list while competition is relatively low. It is important to not only time your sale strategically, but to also seek advice on how to market/show your property and its attributes correctly to gain the most exposure and achieve the best price. What are your thoughts on buying or selling a home in the current economic landscape? #prospectequities® #realestate #marketinsight #chicagorealestate

We are thrilled to announce that Prospect Equities is celebrating its 24th birthday today🎉🎂 As we reflect on the past 24 years, we are filled with gratitude for each and every one of you who has been a part of our journey. Together, we have achieved remarkable milestones and overcome challenges, contributing to the growth and success of Prospect Equities. From our humble beginnings to becoming a leading real estate firm, our journey has been nothing short of extraordinary. Over the years, we have expanded our reach, developed innovative solutions, and built strong relationships within the real estate community. As we celebrate this milestone, let's take a moment to recognize the dedication and hard work of our agents and staff. Your commitment to excellence and passion for serving our clients have been the driving force behind our success. Looking ahead, we are excited about the opportunities that lie ahead and the continued growth of Prospect Equities. Together, we will continue to innovate, adapt, and thrive in an ever-evolving industry. #prospectequities® #24thbirthday #realestate

✨Market Insight✨ The start of the new year's first month has seen an increase in market time and large discounts from original asking prices in both single family homes and attached properties (condos/townhomes). This is common for the winter and holiday season as people generally prefer not to move during the months of December and January, historically. However, this presents a great opportunity for buyers who are in the market to take advantage of properties that have been a bit stagnant and with price reductions. We have seen this trend over the past half year in the Chicagoland housing market where we appear to be moving away from a "seller's market". Planning to buy this Spring, now may be an opportune time to engage. What do you think about these softening home values? #prospectequities® #realestatemarket #marketinsight

2023 Year-End Market Insight The 2023 real estate market was one of the slowest transaction volume markets in 3 decades. Transaction volume was down nearly 1/5th from 2022, which was also a slower volume year. Surprisingly, the average home sales price wasn't much changed. It can be deduced that due to higher interest rates over the past year, the appetite (or at least the capacity) to purchase a home was not there. Typical economics would warrant a much higher sale price with nearly 20% less inventory to choose. However if price is relatively unmoved, it signals weaker demand. PE will be tracking the month to month changes as we approach the "Spring Market" and closely follow interest rates to help our clients navigate upcoming market patterns and sales trends. #marketinsight #prospectequities #realestatemarket

Weekly Market Insight November 2023 is still showing that we are in a Seller's Market. Prices are up around 10% in both Single Family Home prices as well and Condo/Townhome prices year over year and have increased since October's year over year comparison last month. Market times are also down and supply is consistently low in the current market. The FED appears dovish on rates for the upcoming meetings which could likely drive buyer demand up in the first quarter of 2024 which would in-turn drive prices higher for properties keeping with the same inventory levels we have seen over the last quarter. #marketinsight #chicagorealestate #prospectequities #realestatemarket

Weekly Market Insight November has shown us consistency in purchase price from the prior month with respect to Single Family Homes. It is interesting to note that prices held steady from Original List prices. Condos did see an uptick in price point over October and the discount off list price was less than half it's percentage from the prior month.  Less units were sold in November over October in both sectors which is normal as the buying season winds down with the Holidays.