Realtors report an uptick in inquiries, showings and even contracts.

In addition to being a short week as a result of the New Year’s holiday, the first three day business week of 2008 has shown promise.

In my microcosm of the residential real world here in the near western suburbs of Chicago, I have finalized four transactions. A fifth is underway this afternoon.

What sold?

Two newer homes priced over $1,100,000 in Clarendon Hills. New construction on the north side of Downers Grove priced at $700,000. A tear down property in the Old Town section of Western Springs priced around $400,000 on which a $1,300,000 will be built (the builder has sold two new homes in Western Springs over the past three months).

The property which will be finalized this afternoon is a $1.6M home in the Western Springs area.

Whew. And to think that I moved into a new residence this week as well.

As usual, I have been in close contact with other top producing agents in the greater Hinsdale market. They report a high level of activity as well.

It is clear that there is a pent up demand for housing. The reasons why people move still exist. The real question is: Is this a short term spurt in real estate market activity or is it a forerunner of what to expect in 2008?

I’ll keep you posted.

As always, when you have specific questions about your personal real estate scenario, just ask. Your request will be treated with the highest level of discretion.

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