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Aurora Real Estate Market Conditions: June 2018

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Aurora Real Estate Market Update

The Aurora Real Estate remains stagnant in June. There was a decrease in closed single family homes and the same number of condo/town homes sold in June 2018 as June 2017. Sales prices also saw a dip in single family homes, while market times continue to drop for both single family homes and condo/townhomes. The number of listings remains low, which provides leverage for new sellers entering the market.

Aurora Home Sales

194 single family homes and 106 condo/town homes closed in June. Compare that to the 211 single family home closings at the same time last year and you’ll find an decrease of about 8% in the number of single family homes sold. Condo and townhome sales in June stayed the exact same from last year with 106 closings this year, compared to the 106 that sold at the same time last year.

Aurora Real Estate Market Conditions: June 2018 - closed sales

Aurora Sales Price

During June 2018, there was a slight decrease in median sales price for single family homes of just over 5% with a median sales price of $232,000 this year compared to $245,000 last year. Condo/townhomes saw their median sales price slightly increase to $175,000 this year compared to $170,000 this time last year, or a 3% increase.

Aurora Real Estate Market Conditions: June 2018 - sales price

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 11 days at the end of June 2018, compared to 17 days on the market in June 2017 or a 35% decrease. Condo/townhome market times saw a decrease of 20% this June with 8 days on the market, compared to the 10 days we saw at this time last year.

Aurora Real Estate Market Conditions: June 2018 - market time

Aurora New Listings

During June 2018, 258 single family homes were listed for sale in Aurora, compared to the 268 new listings last year, a slight decrease of 6%. New condo/town home listings have had a noted increase of 4% with 123 new listings this June compared to the 118 last year at this time.

Aurora Real Estate Market Conditions: June 2018 - new listings

Aurora Months Supply

Aurora single family home inventory decreased by 22% this June, 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 2.9 months. The months supply of condos/townhomes in Aurora is super low with only 2.0 months supply for sale, up 25% from last June when there were 1.6 months of supply. Anything under a 5 months supply is considered favorable conditions for sellers.

Aurora Real Estate Market Conditions: June 2018 - months supply

#AuroraRealEstate #AuroraRealEstateMarket

Elmhurst Real Estate Market Conditions – June 2018

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Elmhurst Real Estate Market Update

The Elmhurst Real Estate Market is still pretty strong in June despite the lack of inventory. With the limited inventory buyers need to act quickly when a new listing comes on the market.

Elmhurst Market Times

Single family home market times increased in June. Homes were on the market for an average of 85 days compared to 68 days last year at the same time, a 25% increase. The average time a condo/townhome stayed on the market was 118 days compared to last year when it was 68 days, more than a 73.5% increase.Elmhurst Real Estate Market Conditions - June 2018 market times

Elmhurst Months Supply

Single family home inventories in Elmhurst had a 5 month supply at the end of June, a 4.2% increase compared to last year at this time when the months supply was 4.8 months. The supply of condos and townhomes increased 195.7% in June with 6.8 months supply this year compared to last year when the months supply was 2.3.Elmhurst Real Estate Market Conditions - June 2018 months supply

Elmhurst Homes For Sale

At the end of June there were 254 single family homes for sale in Elmhurst, a 2.8% increase from last June when there were 247 homes for sale. The number of condos and townhomes for sale increased 205.9% in June with 52 for sale this year compared to last year when there were 17 for sale.Elmhurst Real Estate Market Conditions - June 2018 homes for sale

Elmhurst New Listings

New listings saw an increase during June with 146 single family homes newly listed compared to the 132 listed in June 2017, an increase of 10.6%. Condo and townhome new listings increased more than 131% with 37 listed for sale this June compared to 16 the same time last year.Elmhurst Real Estate Market Conditions - June 2018 new listings

Elmhurst Real Estate Closings

The number of single family home closed sales increased slightly with 86 closings this June compared to 84 last year, a 2.4% increase. Condo and townhome closings had a 72.7% increase in closed sales with 19 closings this year compared to 11 last June.Elmhurst Real Estate Market Conditions - June 2018 closed sales

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Addison Real Estate Market Conditions – June 2018

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Addison Real Estate Market Update

The Addison Real Estate Market continues to see good market conditions with extremely low inventory. Single family home market times decreased more than 34% in June. The extremely low inventory is making it really difficult for buyers to find a home, benefiting home sellers.

Addison Home Sales

Single family home sales in June decreased 51.2% in Addison. 20 single family homes closed this year, compared to last June when there were 41 closings. Condo and townhome sales decreased 15.4% in June with 11 closing this year and 13 closings last year the same time.Addison Real Estate Market Conditions - June 2018 closed sales

Addison Market Times

Market times for single family homes decreased during June. Single family homes were on the market for an average of 41 days, compared to 63 days in June 2017, a 34.9% decrease. Condo/townhome market times decreased this June with an average of 39 days on the market compared to 61 last June, a 36.1% decrease.Addison Real Estate Market Conditions - June 2018 market time

Addison New Listings

During June 2018, 64 single family homes were listed for sale in Addison, an increase of 33.3% compared to the 48 new listings last June. New condo/town home listings had a 20% increase with 18 new listings this June compared to the 15 last year at this time.

Addison Real Estate Market Conditions - June 2018 new listings

Addison Months Supply

Addison single family home inventory still remains historically low. June ended with 4.8 months of supply, a 4.3% increase compared to last June when 4.6 months of supply was available. The months supply of condos/townhomes had no change from last June with 2.6 months supply for sale, the same as last year at the same time. Anything under a 5 month supply is considered favorable conditions for sellers.Addison Real Estate Market Conditions - June 2018 months supply

Addison Homes For Sale

At the end of June there were 110 single family homes for sale in Addison, a small 2.8% increase from last June when there were 107 homes for sale. The number of condos and townhomes for sale remained the same from last year with 27 for sale this year and last year.Addison Real Estate Market Conditions - June 2018 homes for sale

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Buffalo Grove Real Estate Market Conditions – June 2018 – More Good News

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Buffalo Grove Real Estate Market Update

The Buffalo Grove real estate market had another very good month in June after an outstanding April and solid May. Single Family home buyers had been demonstrating great patience and restraint, holding off for well updated homes or great deals. In June, 114 new single family homes were listed, following 119 in May, which is the highest number in over 10 years. Condos and Townhomes continue to seemingly sell as soon as they hit the market, with an extremely low average market time of 42 days! Based on my experience with our listings, the pool of buyers is very strong and there are lots of showings. Summer is here, and I anticipate the next couple of months should be very interesting … stay tuned!

Single Family Homes:

Average Market Time

The average time a single family home remained on the market in Buffalo Grove was 51 days in June 2018, which was up from 34 days in June 2017.

Buffalo Grove Real Estate Market Conditions - June 2018 - market time

Months Supply

As of July 1, 2018, there are 5.0 months supply of single family homes for sale in Buffalo Grove, up from 3.7 last year. The new listings in the market has really balanced the market as anything under 5 months is considered a seller’s market.

Buffalo Grove Real Estate Market Conditions - June 2018 - months supply

Homes For Sale

At the end of June 2018, there are 168 single family homes for sale in Buffalo Grove, compare that to the 136 available at this time last year, we are starting to build up some much needed inventory.

Buffalo Grove Real Estate Market Conditions - June 2018 - homes for sale

New Listings

114 single family homes were listed for sale in June of 2018, compared to 100 new listings last year, our inventory position is improving and Buyers got off the fence in April, May and June.

Buffalo Grove Real Estate Market Conditions - June 2018 - new listings

Homes Under Contract

41 single family homes went under contract in Buffalo Grove in June 2018 a decrease from 53 in June 2017.

Buffalo Grove Real Estate Market Conditions - June 2018 - under contract

Closings

67 Single family homes closed in June 2018, up from 58 in June 2017. Through the 1st half of the year, 215 homes have sold this year versus 223 in 2017. There seems to be some good momentum with more available inventory.

Buffalo Grove Real Estate Market Conditions - June 2018 - closed sales

Condos and Townhomes:

Average Market Time

The time Condos and Townhomes remained on the market in Buffalo Grove was 42 days which is up 50 days in June 2017. This continues to be an extremely low figure and reflects the competiveness we are facing with Condos and Townhomes.

Buffalo Grove Real Estate Market Conditions - June 2018 - market time

Months Supply

As of July 1, 2018, there is a very low 2.6 months supply of Condos and Townhomes for sale in Buffalo Grove up from last year’s figure of 2.3. Buyers have to move quickly when an attractive listing hits the market!

Buffalo Grove Real Estate Market Conditions - June 2018 - months supply

Homes For Sale

At the end of June 2018, there are 87 Condos and Townhomes for sale in Buffalo Grove, compare that to the 75 available at this time last year and you’ll see that inventory remains tight.

Buffalo Grove Real Estate Market Conditions - June 2018 - homes for sale

New Listings

73 Condos and Townhomes were listed for sale in June of 2018, up significantly from 44 last year, which will help with our inventory shortage. 73 is the most new Condo and Town home listings we have seen for a month in 8 years.

Buffalo Grove Real Estate Market Conditions - June 2018 - new listings

Condos and Townhomes Under Contract

35 Condos and Townhomes went under contract in Buffalo Grove in June, which is a solid increase from 30 from 2017.

Buffalo Grove Real Estate Market Conditions - June 2018 - under contract

Closings

51 Condos and Townhomes closed in June 2018, down slightly from 52 in 2017. Through 6 months, we have seen 205 sales this year versus 193 in 2017.

Buffalo Grove Real Estate Market Conditions - June 2018 - closed sales

#BuffaloGroveRealEstate

Aurora Real Estate Market Conditions: May 2018

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Aurora Real Estate Market Update

The Aurora Real Estate market begins to sputter in May. There was a decrease in both single family homes and condo/townhomes in home sales, market times, and months supply. Sales price and new listings remained stagnant from last May.

Aurora Home Sales

162 single family homes and 68 condo/town homes closed in May. Compare that to the 178 single family home closings at the same time last year and you’ll find an decrease of about 9% in the number of single family homes sold. Condo and townhome sales in May decreased by 36% from last year with 68 closings this year, compared to the 106 that sold at the same time last year.

Aurora Sales Price

During May 2018, there was a slight increase in median sales price for single family homes of just over 1% with a median sales price of $243,250 this year compared to $240,000 last year. Condo/townhomes saw their median sales price slightly increase to $169,900 this year compared to $168,800 this time last year, or a 1% increase.

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 8 days at the end of May 2018, compared to 16 days on the market in May 2017 or a 50% decrease. Condo/townhome market times saw a decrease of 45% this May with 6 days on the market, compared to the 11 days we saw at this time last year.

Aurora New Listings

During May 2018, 276 single family homes were listed for sale in Aurora, compared to the 277 new listings last year, a slight decrease of 1%. New condo/town home listings have had a noted increase of 4% with 112 new listings this May compared to the 108 last year at this time.

Aurora Months Supply

Aurora single family home inventory decreased by 22% this May, dropping to 2.1 months supply of homes for sale. The months supply of Aurora single family homes for sale at the same time last year was 2.7 months. The months supply of condos/townhomes in Aurora is super low with only 1.4 months supply for sale, down 7% from last May when there were 1.5 months of supply. Anything under a 5 months supply is considered favorable conditions for sellers.

#AuroraRealEstate #AuroraRealEstateMarket