Greetings, Kankakee County neighbors! Lisa Sanford here, your go-to real estate expert from Berkshire Hathaway HomeServices Speckman Realty. As we bid farewell to October, it's time to reflect on not only the picturesque fall scenery and community events but also the latest developments in our local real estate market and business landscape. So, grab a cup of warm apple cider and join me as we dive into the exciting happenings in Kankakee County.
Real Estate Insights from the Association of Realtors:
In the latest edition of the Association of Realtors' monthly newsletter, some fascinating figures shed light on the state of our local real estate market. October saw a robust demand for homes in Kankakee County, with a notable increase in both home sales and median home prices. The market continues to be competitive, making it an opportune time for sellers to list their homes and for buyers to explore the diverse housing options our community has to offer.
The median sales price in Bourbonnais has reached $257,500, indicating a 1% increase since October 2022 when it was $255,000. The average market time is 35 days, and the average price per square foot has risen to $148, reflecting a 5% increase from last year's figure of $141. As of the end of October, only 25 homes were actively listed, signifying a 28.6% decrease from October 2022. The inventory supply has decreased by 16.7% from last year, resulting in just a 1-month supply available.
First-time homebuyers, in particular, found Kankakee County appealing due to the affordability of properties compared to neighboring areas. The availability of various financing options, coupled with interest rates going down, contributed to the steady growth in the number of new homeowners in our community.
At Berkshire Hathaway HomeServices Speckman Realty, we take pride in being part of this dynamic real estate landscape. Our team is dedicated to helping you navigate the market, whether you're looking to buy, sell, or invest in real estate.
Business Boom in Kankakee County:
Beyond the residential scene, Kankakee County continues to thrive economically, thanks to the concerted efforts of the Economic Alliance. The month of October witnessed significant strides in the local business sector, with several new enterprises choosing our community as their home.
The Economic Alliance's ongoing initiatives to attract businesses to the area have proven successful, fostering a diverse and vibrant economic landscape. With a mix of retail establishments, technology startups, and service providers, Kankakee County is becoming an increasingly appealing destination for both entrepreneurs and consumers.
Moreover, the collaboration between local businesses and community organizations was evident in the various events and initiatives throughout the month. From small business spotlights to networking events, the sense of community and support for local enterprises was palpable.
As your real estate advocate, I want to emphasize the symbiotic relationship between a thriving business community and a robust real estate market. The growth of businesses in Kankakee County not only enhances our local economy but also contributes to the overall appeal of the area, making it an attractive destination for prospective homebuyers.
Community Events in November:
In the spirit of keeping you well-informed, here are a few noteworthy community events in November:
Small Business Saturday at Moon Cookie Gallery 11/25: Join us for our annual Small Business Saturday celebration! This year's theme is "Whimsical Winter Woodland" and our artists are busy creating special handmade gifts! Here are a few of the fun things happening that day: Goodie bags (first 50 customers),Sales and promos, Raffle baskets, Prizes throughout the day ...and more! 9:00 am - 2:00 pm. Moon Cookie Gallery 187 S Schuyler | Kankakee, IL 60901 | https://www.visitkankakeecounty.com/event?EventID=2779
Friendsgiving on the Farm 11/18: Holiday soirees are best hosted on the farm. Returning for its eighth year, Friendsgiving on the Farm. We celebrate the closing of the season with an abundant feast in our barn. Enjoy the farm’s twist on Thanksgiving Dinner and participate in a gathering of grateful hearts and rich friendships. Participate in the lighting of Locavore’s Christmas Tree! Adult $99. 6:00 pm - 9:00 pm. Locavore Farm 11588 N 17500 E Rd | Grant Park, IL 60940 | https://www.visitkankakeecounty.com/event?EventID=2775
Holiday Market 11/24-11/25: Please join us for our third annual vendor fair! Support local small businesses inside of our heated facility over Thanksgiving weekend. In addition to 150 unique vendors, Sunrise will be selling house-made winter greenery arrangements, bundles of live cut greenery, as well as poinsettias, holiday ornaments, holiday décor, and so much more! PS: Don’t worry about going hungry! There will be multiple delicious food trucks and coffee purveyors to satisfy your appetites! Be sure to follow our #ShopSmallHolidayMarket Facebook page for Vendor Spotlights. 8:00am-3:00pm. Woldhuis Farms Sunrise Greenhouse 10300 E 9000N Rd | Grant Park, IL 60940 | (815) 465-6310 https://www.visitkankakeecounty.com/event?EventID=2782
As we transition into November, I encourage you to explore the diverse opportunities our community offers. If you're considering a move, whether for residential or business purposes, I'm here to guide you through the process. At Berkshire Hathaway HomeServices Speckman Realty, we're not just selling homes; we're helping you become a part of the fabric of Kankakee County.
Wishing you a Happy Thanksgiving! May you enjoy making wonderful memories with family and friends!
