“The market is interesting right now, to say the least,” Joe reflects. “After the pandemic many people were making moves. Now inventory is tighter, however after an exceptionally strong spring market, Chicago has shifted into the summer market and with that I see a steady increase of inventory and slight decrease in demand from buyers. Current market conditions show Chicago averaging under two months of supply, stronger than the national average.
“Historically, the summer market allows for more negotiability between buyers and sellers and affords buyers and investors that have been patiently waiting for the right opportunity to strike. With interest rates still stubbornly higher than recent norms it has not affected the market. I expect at least one interest rate cut later this year and several more in the next 12-18 months. Once those rate cuts occur there will be more sellers motivated to list their homes, who feel they are no longer handcuffed from selling and purchasing a new home because of interest rates. Within the real estate industry the prevailing feeling is that when rates do cut that will bring more buyers into the fold and will likely also result in pricing increases. For buyers on the fence about purchasing or waiting, they should buy before rates return to the pre-inflationary increases because they will be ahead of the curve and get better deals.”
Committed to educating clients and empowering them to make informed decisions, Joe leverages AI tools and data-driven insights to deliver exceptional results. His three-phase marketing strategy has allowed him to grow his reach through customized newsletters, targeted digital communications, and social campaigns. The engagement with his audience is creative and precise.
Grounded by his legal background, Joe is renowned for meticulous attention to detail, and unwavering client advocacy, and holds himself to the highest professional standards. He prioritizes long-term relationships over short-term wins, never hesitating to walk away from opportunities that do not align with his clients’ interests.
Beyond his thriving profession, Kotoch cherishes his role as a dedicated husband to wife Katie and father to two children, Addie and Luke, and indulges his passion for sports. When not navigating Chicago’s real estate landscape, he enjoys walking his cherished Portuguese water dogs, Nike and Neptune, through Logan Square and along the 606 trail.
Visit www.joekotoch.com for information on Chicago real estate.