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Aurora Real Estate Market Conditions: April 2018

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Aurora Real Estate Market Update

The Aurora Real Estate market finally begins to bloom in April. There was an increase in both single family homes and condo/townhomes in the following categories: the number of properties sold, median sales price, and number of new listings. The increase in listings coupled with low inventory has allowed sellers to sell for top dollar. Sellers can continue to capitalize on these market conditions as we head into the summer months.

Aurora Home Sales

142 single family homes and 61 condo/town homes closed in April. Compare that to the 124 single family home closings at the same time last year and you’ll find an increase of about 15% in the number of single family homes sold. Condo and townhome sales in April slightly increased by 3% from last year with 61 closings this year, compared to the 59 that sold at the same time last year.

Aurora Real Estate Market closed sales

Aurora Sales Price

During April 2018, there was a noted increase in median sales price for single family homes of nearly 6% with a median sales price of $220,000 this year compared to $207,500 last year. Condo/townhomes saw their median sales price increase to $185,000 this year compared to $165,000 this time last year, or an 12% increase.

Aurora Real Estate median sales price

Aurora Market Times

Market times for single family homes decreased where condos/townhomes in Aurora increased this year. Single family homes were on the market for 42 days at the end of April 2018, compared to 49 days on the market in April 2017 or a 14% decrease. Condo/townhome market times saw an increase of 19% this April with 38 days on the market, compared to the 32 days we saw at this time last year.

Aurora Real Estate market time

Aurora New Listings

During April 2018, 258 single family homes were listed for sale in Aurora, compared to the 219 new listings last year, an increase of 18%. New condo/town home listings have had a noted increase of 24% with 128 new listings this April compared to the 103 last year at this time.

Aurora Real Estate new lstings

Aurora Months Supply

Aurora single family home inventory decreased by 28% this April, dropping to 1.8 months supply of homes for sale. The months supply of Aurora single family homes for sale at the same time last year was 2.5 months. The months supply of condos/townhomes in Aurora is super low with only 1.3 months supply for sale, down 7% from last April when there were 1.4 months of supply. Anything under a 5 months supply is considered favorable conditions for sellers.

Aurora Real Estate months supply

#AuroraRealEstate #AuroraRealEstateMarket

Buffalo Grove Real Estate Market Conditions – April 2018 – Good Momentum As Spring Is Here

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Buffalo Grove Real Estate Market Update

The Buffalo Grove real estate market showed a real sign of life in April after a very disappointing March. Single Family home buyers had been demonstrating great patience and restraint, holding off for well updated homes or great deals. In April, 71 single family homes went under contract, the highest number since 2008. Condos and Townhomes continue to seemingly sell as soon as they hit the market. Based on my experience with our listings, the pool of buyers is very strong and there are lots of showings. Spring 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 80 days in April 2018, which was up from 73 days in April 2017, but still a very solid figure.

Buffalo Grove Real Estate Market Conditions - April 2018

Months Supply

As of May 1, 2018, there are 2.9 months supply of single family homes for sale in Buffalo Grove, down sightly from 3.0 last year. Anything under 5 months is considered a seller’s market.

Buffalo Grove Real Estate Market Conditions - April 2018 months supply

Homes For Sale

At the end of April 2018, there are 103 single family homes for sale in Buffalo Grove, compare that to the 108 available at this time last year.

Buffalo Grove Real Estate Market Conditions - April 2018 for sale

New Listings

90 single family homes were listed for sale in April of 2018, compared to 77 new listings last year, our inventory position is improving and Buyers got off the fence in April, putting 71 homes under contract.

Buffalo Grove Real Estate Market Conditions - April 2018 new listings

Homes Under Contract

71 single family homes went under contract in Buffalo Grove in April 2018 an enormous increase from 47 in April 2017. As I mentioned above, 71 was the highest figure in over 10 years, topping the next recent high water mark of 55 from March 2016 by a large margin.

Buffalo Grove Real Estate Market Conditions - April 2018 under contract

Closings

33 Single family homes closed in April 2018, down from 40 in April 2017. Through the 1st four months of the year, 95 homes have sold this year versus 125 in 2017. There seems to be some good momentum and May and June closings should be solid.

Buffalo Grove Real Estate Market Conditions - April 2018 closings

Condos and Townhomes:

Average Market Time

The time Condos and Townhomes remained on the market in Buffalo Grove was 41 days which is down from 75 days in April 2017. This is a low figure and reflects the competiveness we are facing with Condos and Townhomes.

Buffalo Grove Real Estate Market Conditions - April 2018 market times

Months Supply

As of May 1, 2018, there is a ridiculously low 2.1 months supply of Condos and Townhomes for sale in Buffalo Grove down from last year’s figure of 2.2. Buyers have to move quickly when an attractive listing hits the market!

Buffalo Grove Real Estate Market Conditions - April 2018 months supply

Homes For Sale

At the end of April 2018, there are 68 Condos and Townhomes for sale in Buffalo Grove, compare that to the 73 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 Conditions - April 2018 for sale

New Listings

70 Condos and Townhomes were listed for sale in April of 2018, up nicely form 658 last year, which will help with our inventory shortage.

Buffalo Grove Real Estate Market Conditions - April 2018 new listings

Condos and Townhomes Under Contract

56 Condos and Townhomes went under contract in Buffalo Grove in April, which is an increase from 46 from 2017.

Buffalo Grove Real Estate Market Conditions - April 2018 under contract

Closings

37 Condos and Townhomes closed in April 2018, up from 35 in 2017. Through 4 months, we have seen 108 sales this year versus 101 in 2017. It appears that the main thing holding back sales is a simple lack of inventory.

Buffalo Grove Real Estate Market Conditions - April 2018 closings

#BuffaloGroveRealEstate

Elmhurst Real Estate Market Conditions – April 2018

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Elmhurst Real Estate Market Update

The Elmhurst Real Estate Market is still pretty strong in April despite the lack of inventory. Homes are selling fairly quick. 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 April. Homes were on the market for an average of 98 days compared to 84 days last year at the same time, more than a 16% increase. The average time a condo/townhome stayed on the market was 43 days compared to last year when it was 45 days, more than an 4% decrease.Elmhurst Real Estate Market Conditions - April 2018 market times

Elmhurst Months Supply

Single family home inventories in Elmhurst had 4 months of supply at the end of April, more than a 11% decrease compared to last year at this time when the months supply was 4.5 months. The supply of condos and townhomes increased 100% in April with 4 months supply this year compared to last year when the months supply was 2.Elmhurst Real Estate Market Conditions - April 2018 months supply

Elmhurst Homes For Sale

At the end of April there were 206 single family homes for sale in Elmhurst, a 9.3% decrease from last April when there were 227 homes for sale. The number of condos and townhomes for sale increased 100% in April with 28 for sale this year compared to last year when there were 14 for sale.Elmhurst Real Estate Market Conditions - April 2018 homes for sale

Elmhurst New Listings

New listings saw an increase during April with 140 single family homes newly listed compared to the 129 listed in April 2017, an increase of 8.5%. Condo and townhome new listings increased more than 214% with 22 listed for sale this April compared to 7 the same time last year.Elmhurst Real Estate Market Conditions - April 2018 new listings

Elmhurst Real Estate Closings

The number of single family home closed sales decreased more than 4% with 63 closings this April compared to 66 last year. Condo and townhome closings had a 42.9% decrease in closed sales with only 4 closings this year compared to 7 last April.Elmhurst Real Estate Market Conditions - April 2018 closed sales

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Addison Real Estate Market Conditions – April 2018

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Addison Real Estate Market Update

The Addison Real Estate Market had a 32% increase in single family home sales in April. 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 April increased 32% in Addison. 33 single family homes closed this year, compared to last April when there were 25 closings. Condo and townhome sales increased 80% in April with 9 closing this year and 5 closings last year the same time.Addison Real Estate Market Conditions - April 2018 closed sales

Addison Market Times

Market times for single family homes decreased during April. Single family homes were on the market for an average of 111 days, compared to 136 days in April 2017, an 18.4% decrease. Condo/townhome market times increased this April with an average of 81 days on the market compared to 11 last April, a whopping 636.4% increase.Addison Real Estate Market Conditions - April 2018 market time

Addison New Listings

During April 2018, 58 single family homes were listed for sale in Addison, a slight decrease of 3.3% compared to the 60 new listings last April. New condo/town home listings had a 6.7% increase with 16 new listings this April compared to the 15 last year at this time.Addison Real Estate Market Conditions - April 2018 new listings

Addison Months Supply

Addison single family home inventory still remains historically low, and just when we thought it couldn’t get any lower there was another decrease in supply. April ended with 3.4 months of supply, a 30.6% decrease compared to last April when 4.9 months of supply was available. The months supply of condos/townhomes decreased 44.4% from last April with 2 months supply for sale, compared to the 3.6 months of supply we saw last year at the same time. Anything under a 5 month supply is considered favorable conditions for sellers.Addison Real Estate Market Conditions - April 2018 months supply

Addison Homes For Sale

At the end of April there were 82 single family homes for sale in Addison, a 23.4% decrease from last April when there were 107 homes for sale. The number of condos and townhomes for sale decreased 31.3% with 22 for sale at the end of April 2018 compared to 32 in April 2017.Addison Real Estate Market Conditions - April 2018 homes for sale

#AddisonRealEstateMarket

Aurora Real Estate Market Conditions: March 2018

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Aurora Real Estate Market Update

The Aurora Real Estate market continues to limp in March. Closed sales and new listings for both single family homes and condo/townhomes decreased this March compared to last year. However, favorable conditions for a seller continue to persist with an increase of nearly 20% in sales price for both single family and condo/townhomes coupled with a decrease in both market times and months supply. This is the time for sellers to capitalize on these conditions before they change.

Aurora Home Sales

115 single family homes and 57 condo/town homes closed in March. Compare that to the 146 single family home closings at the same time last year and you’ll find a slight decrease of about 21% in the number of single family homes sold. Condo and townhome sales in March decreased by 23% from last year with 57 closings this year, compared to the 74 that sold at the same time last year.

Aurora Sales Price

During March 2018, there was a noted increase in median sales price for single family homes of nearly 17% with a median sales price of $229,000 this year compared to $195,000 last year. Condo/townhomes saw their median sales price increase to $186,000 this year compared to $158,000 this time last year, or an 18% 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 64 days at the end of March 2018, compared to 92 days on the market in March 2017 or a 30% decrease. Condo/townhome market times also saw a decrease of 44% this March with 38 days on the market, compared to the 68 days we saw at this time last year.

Aurora New Listings

During March 2018, 220 single family homes were listed for sale in Aurora, compared to the 252 new listings last year, a decrease of 13%. New condo/town home listings have had a noted decrease of 8% with 95 new listings this March compared to the 103 last year at this time.

Aurora Months Supply

Aurora single family home inventory decreased by 29% this March, dropping to 1.7 months supply of homes for sale. The months supply of Aurora single family homes for sale at the same time last year was 2.4 months. The months supply of condos/townhomes in Aurora is super low with only 1 months supply for sale, down an amazing 33% from last March when there were 1.5 months of supply. Anything under a 5 months supply is considered favorable conditions for sellers.

#AuroraRealEstate #AuroraRealEstateMarket