Addison Real Estate Market Conditions: September 2017 – Limited Inventory And Lower Market Times

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Addison Real Estate Market Update

The Addison Real Estate Market saw a decrease in home sales in September. Market times are decreasing with homes selling pretty quick. The extremely low inventory is making it really hard for buyers to find anything, although the months supply had a slight increase this month.

Addison Home Sales

Single family home sales in Addison decreased more than 20% in September. 23 single family homes closed this year compared to the same time last year when 29 single family homes sold. Condo and townhome sales decreased 50% in September with 11 closing this year compared to 22 closing last year the same time.Addison real estate closed sales Sept 2017

Addison Market Times

Market times for single family homes had a decrease during September. Single family homes were on the market for an average of 69 days, compared to 86 days in September 2016, more than a 19% decrease. Condo/townhome market times decreased also this September with an average of 63 days on the market compared to the 108 days last year at this time, a 41.7% decrease.Addison real estate market time Sept 2017

Addison New Listings

During September 2017, 39 single family homes were listed for sale in Addison, an increase of more than 21% compared to the 32 new listings last September. New condo/town home listings had a huge 140% increase with 24 new listings this September compared to the 10 last year at this time.Addison real estate new listings Sept 2017

Addison Months Supply

Addison single family home inventory still remains historically low, but we did see a slight increase in supply. September ended with 4.9 months of supply, a 2.1% increase compared to last September when 4.8 months of supply was for sale. The months supply of condos/townhomes increased 20% from last September with 3 months supply for sale, compared to the 2.5 months of supply we saw last year at the same time. Anything under a 5 months supply is considered favorable conditions for sellers.Addison real estate months supply Sept 2017

Addison Homes For Sale

At the end of September there were 111 single family homes for sale in Addison, a 5.9% decrease from last September when there were 118 homes for sale. The number of condos and townhomes for sale increased 38.1% with 29 for sale at the end of September 2017 compared to 21 in September 2016.Addison real estate homes for sale Sept 30 2017

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Buffalo Grove Real Estate Market Conditions – September 2017 – Mixed Results As Inventory Levels Remain Low

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Buffalo Grove Real Estate Market Update

Buffalo Grove real estate results were mixed in September 2017 after a disappointing August, as inventory remains very tight with new listings still not meeting potential buyer demand. Updated homes and/or well priced listings are selling very quickly. Homes that are not updated are sitting on the market for 4 to 6 months. Some recent research suggests that many “empty nesters” are updating and remodeling their homes as opposed to downsizing or moving to warmer climates. This could have a significant impact over inventory for the next several years. It is also worth noting that this analysis is for the entire Village of Buffalo Grove. There are pockets in town that have multiple similar listings on the same small block, the Woodlands of Fiore subdivision, in particular … the odd thing is that Buyers are not flocking to this coveted part of town!

Single Family Homes:

Average Market Time

The average time a single family home remains on the market in Buffalo Grove was 125 days in September 2017, which was up from 92 days in September 2016. This is one of the higher figures we have seen for this measure in awhile, and oddly, it’s being driven by the lower priced homes on the market.

Months Supply

As of October 1, 2017, there is 3.2 months supply of single family homes for sale in Buffalo Grove compared to 3.7 last year. Anything under 5 months is considered a seller’s market. It continues to be a good time to consider selling.

Homes For Sale

At the end of September 2017, there are 115 single family homes for sale in Buffalo Grove, compare that to the 134 available at this time last year and you’ll see that inventory remains very low. There aren’t enough homes to supply the current buyer demand, which provides for a very competitive environment.

New Listings

56 single family homes were listed for sale in September of 2017, compared to 66 new listings last year. Still not enough new inventory to satisfy the pent up demand of buyers.

Homes Under Contract

28 single family homes went under contract in Buffalo Grove in September 2017 an increase from 25 in September 2016.

Closings

34 Single family homes closed in September 2017, down from 43 in September 2016. Through nine months of the year, 356 homes have closed this year versus 357 in 2016.

Condos and Townhomes:

Average Market Time

The time Condos and Townhomes remains on the market in Buffalo Grove was 57 days which is up from 37 days in September 2016. This remains a very low figure and reflects the competiveness we are facing with Condos and Townhomes.

Months Supply

As of October 1, 2017, there is a very low 2.5 months supply of Condos and Townhomes for sale in Buffalo Grove equal to last year’s figure of 2.5. Buyers have to move quickly when an attractive listing hits the market!

Homes For Sale

At the end of September 2017, there are 80 Condos and Townhomes for sale in Buffalo Grove, compare that to the 85 available at this time last year and you’ll see that inventory remains very tight. There simply aren’t enough homes to supply the current buyer demand, which provides for a very competitive environment.

New Listings

48 Condos and Townhomes were listed for sale in September of 2017, down from 55 last year.

Condos and Townhomes Under Contract

33 Condos and Townhomes went under contract in Buffalo Grove in September, which is a nice increase from 27 from 2016.

Closings

35 Condos and Townhomes closed in September 2017, equal to 2016. Through the first nine months of 2017, 295 homes have closed, a decrease from 327 in 2016. The main thing holding back sales is a simple lack of inventory.

#BuffaloGroveRealEstate

Aurora Real Estate Market Conditions: September 2017 – Homes Are Selling Fast, The Demand Is There But The Supply Is Limited

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Aurora Real Estate Market Update

The Aurora Real Estate Market continues to move up in September with condo/town homes sales price increasing. Limited supply has helped an increase in median sales price for both single family and condo/town homes. It is a great time for sellers, as market times and months’ supply continue to decrease putting sellers in an advantageous negotiating position yielding higher sales prices.

Aurora Home Sales

136 single family homes and 76 condo/town homes closed in September. Compare that to the 143 single family home closings at the same time last year and you’ll find a slight decrease of about 5% in the number of single family homes sold. Condo and townhome sales in September increased by 13% from last year with 76 closings this year, compared to the 67 that sold at the same time last year.

Aurora Real Estate Market Conditions closed sales

Aurora Sales Price

During September 2017, there was a noted increase in median sales price for single family homes of nearly 12% with a median sales price of $201,000 this year compared to $180,000 last year. Condo/townhomes saw their median sales price raise to $162,250 this year compared to $152,500 this time last year, or a 6% increase.

Aurora Real Estate Market Conditions
Aurora Market Times

Market times for both single family homes and condos/townhomes in Aurora decreased this year. Single family homes were on the market for 24 days at the end of September 2017, compared to 36 days on the market in September 2016 or a 33% decrease. Condo/townhome market times saw a decrease of 35% this September with 13 days on the market, compared to the 20 days we saw at this time last year.

Aurora Real Estate Market Conditions market times
Aurora New Listings

During September 2017, 181 single family homes were listed for sale in Aurora, compared to the 185 new listings last year, a decrease of 2%. New condo/town home listings have had an increase by 3% with 78 new listings this September compared to the 72 last year at this time.

Aurora Real Estate Market Conditions new listings
Aurora Months Supply

Aurora single family home inventory decreased significantly by 29% this September, dropping to 2.2 months supply of homes for sale. The months supply of Aurora single family homes for sale at the same time last year was 3.1 months. The months supply of condos/townhomes in Aurora is super low with only 1.5 months supply for sale, down 29% from last September when there were 2.1 months of supply. Anything under a 5 months supply is considered favorable conditions for sellers.

Aurora Real Estate Market Conditions months supply
#AuroraRealEstate #AuroraRealEstateMarket

Buffalo Grove Real Estate Market Conditions: August 2017 – Sales Disappoint As Inventory Levels Continue To Frustrate

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Buffalo Grove Real Estate Market Update

Buffalo Grove real estate sales were disappointing in August 2017 after a relatively soft July, as inventory remains very tight with new listings still not meeting potential buyer demand. Updated homes and/or well priced listings are selling very quickly. Homes that are not updated are sitting on the market for 4 to 6 months. Some recent research suggests that many “empty nesters” are updating and remodeling their homes as opposed to downsizing or moving to warmer climates. This could have a significant impact over inventory for the next several years.

Single Family Homes:

Average Market Time

The average time a single family home remains on the market in Buffalo Grove was 52 days in August 2017, which was down from 73 days in August 2016. This is still a very low average market time, reflective of attractive new listings selling quickly.

Buffalo Grove Real Estate Market

Months Supply

As of September 1, 2017, there is 3.4 months supply of single family homes for sale in Buffalo Grove compared to 3.6 last year. Anything under 5 months is considered a seller’s market. It continues to be a good time to consider selling.

Buffalo Grove Real Estate Market

Homes For Sale

At the end of August 2017, there are 123 single family homes for sale in Buffalo Grove, compare that to the 131 available at this time last year and you’ll see that inventory remains very low. There aren’t enough homes to supply the current buyer demand, which provides for a very competitive environment.

Buffalo Grove Real Estate Market

New Listings

63 single family homes were listed for sale in August of 2017, compared to 62 new listings last year. Still not enough new inventory to satisfy the pent up demand of buyers.

Buffalo Grove Real Estate Market

Homes Under Contract

41 single family homes went under contract in Buffalo Grove in August 2017 an increase from 29 in August 2016 … these should close in September in October.

Buffalo Grove Real Estate Market

Closings

45 Single family homes closed in August 2017, down slightly from 46 in August 2016. Through eight months of the year, 321 homes have closed this year versus 314 in 2016.

Buffalo Grove Real Estate Market

Condos and Townhomes:

Average Market Time

The time Condos and Townhomes remains on the market in Buffalo Grove was 42 days which is up from 31 days in August 2016. This remains a very low figure and reflects the competiveness we are facing with Condos and Townhomes.

Buffalo Grove Real Estate Market

Months Supply

As of September 1, 2017, there is a very low 2.6 months supply of Condos and Townhomes for sale in Buffalo Grove up slightly from last year’s figure of 2.5. Buyers have to move quickly when an attractive listing hits the market!

Buffalo Grove Real Estate Market

Homes For Sale

At the end of August 2017, there are 83 Condos and Townhomes for sale in Buffalo Grove, compare that to the 84 available at this time last year and you’ll see that inventory remains very tight. There simply aren’t enough homes to supply the current buyer demand, which provides for a very competitive environment.

Buffalo Grove Real Estate Market

New Listings

66 Condos and Townhomes were listed for sale in August of 2017, up nicely from 51 last year, hopefully this will satisfy some of the pent up demand that has been building for months.

Buffalo Grove Real Estate Market

Condos and Townhomes Under Contract

38 Condos and Townhomes went under contract in Buffalo Grove in August, which is a nice increase from 24 from 2016.

Buffalo Grove Real Estate Market

Closings

26 Condos and Townhomes closed in August 2017, down from 44 in 2016. Through the first eight months of 2017, 260 homes have closed, a decrease from 292 in 2016. The main thing holding back sales is a simple lack of inventory.

Buffalo Grove Real Estate Market

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Elmhurst Real Estate Market Conditions – August 2017 – It’s a Great Time For Sellers To Capitalize

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Elmhurst Real Estate Market

The Elmhurst Real Estate Market is still pretty strong despite the decline in single family homes sales in August. Homes and condos are selling pretty fast and with the lack of inventory it’s a great time for sellers to capitalize.

Elmhurst Market Times

Single family home market times increased in August. Homes were on the market for an average of 100 days compared to 81 days last year at the same time, a 23.5% increase. Condos and townhomes sold super fast in August. The average time a condo/townhome stayed on the market was 17 days compared to last year when it was 124 days, a stunning 86.3% decrease.Elmhurst real estate market Aug 2017

Elmhurst Months Supply


Single family homes inventories in Elmhurst
had 4.3 months of supply at the end of August, more than a 15% decrease compared to last year at this time when the months supply was 5.1. The supply of condos and townhomes decreased more than 59% from 4.2 months last year to a historic low 1.7 months supply this year.

Elmhurst real estate market Aug 2017

Elmhurst Homes For Sale

At the end of August there were 231 single family homes for sale in Elmhurst, a 6.1% decrease from last August when there were 246 homes for sale. The number of condos and townhomes for sale decreased almost 55% with 14 for sale at the end of August 2017 compared to 31 in August 2016.

Elmhurst real estate market Aug 2017

Elmhurst New Listings

New listings increased during August with single family homes having 109 new listings compared to the 83 listed in August 2016, an increase of 31.3%. Condos and townhomes had a 75% increase with 14 listed for sale this August compared to only 8 new listings at this time last year.

Elmhurst real estate market Aug 2017

Elmhurst Real Estate Closings

The number of single family home closings decreased 11.1% with 64 closings this August, compared to 72 closings last August. Condo and townhome closings had a huge 100% increase in closed sales with 14 closings compared to 7 last August.

Elmhurst real estate market Aug 2017

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