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Addison Real Estate Market Conditions – January 2018

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Addison Real Estate Market Update

The Addison Real Estate Market had a 40% increase in single family home sales in January. 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 January increased 40% in Addison. 14 single family homes closed this year, compared to last January when there were 10 closings. Condo and townhome sales decreased 20% in January with 4 closing this year compared to 5 closing last year the same time.

Addison Real Estate Market Conditions - January 2018 closed sales

Addison Market Times

Market times for single family homes decreased during January. Single family homes were on the market for an average of 68 days, compared to 113 days in January 2017, more than a 39% decrease. Condo/townhome market times also decreased this January with an average of 43 days on the market compared to 52 last January, a 17.3% decrease.

Addison Real Estate Market Conditions - January 2018 market time

Addison New Listings

During January 2018, 25 single family homes were listed for sale in Addison, a decrease of more than 26% compared to the 34 new listings last January. New condo/town home listings had a 71.4% increase with 12 new listings this January compared to the 7 last year at this time.

Addison Real Estate Market Conditions - January 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 significant decrease in supply. January ended with 2.4 months of supply, a 36.8% decrease compared to last January when 3.8 months of supply was for sale. The months supply of condos/townhomes increased 31.6% from last January with 2.5 months supply for sale, compared to the 1.9 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 Market Conditions - January 2018 months supply

Addison Homes For Sale

At the end of January there were 58 single family homes for sale in Addison, a 31.8% decrease from last January when there were 85 homes for sale. The number of condos and townhomes for sale increased 47.1% with 25 for sale at the end of January 2018 compared to 17 in January 2017.

Addison Real Estate Market Conditions - January 2018 homes for sale

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Aurora Real Estate Market Conditions: January 2018

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Aurora Real Estate Market Update

Limited inventory continues in January in the Aurora Real Estate making it a great time to sell your home. Limited supply has helped an increase in median sales price as well as dropping the market times for condos/townhomes. It is a great time for sellers, as months’ supply continue to decrease putting sellers in an advantageous negotiating position yielding higher sales prices.

Aurora Home Sales

80 single family homes and 37 condo/town homes closed in January. Compare that to the 84 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 January increased by 6% from last year with 37 closings this year, compared to the 35 that sold at the same time last year.

Aurora Real Estate Market Conditions: January 2018 closed sales

Aurora Sales Price

During January 2018, there was a noted increase in median sales price for single family homes of nearly 6% with a median sales price of $173,950 this year compared to $164,125 last year. Condo/townhomes saw their median sales price raise to $165,000 this year compared to $153,900 this time last year, or a 7% increase.

Aurora Real Estate Market Conditions: January 2018 sales price

Aurora Market Times

Market times for single family homes in Aurora increased this year, where condos/townhomes saw a decrease. Single family homes were on the market for 44 days at the end of January 2018, compared to 43 days on the market in January 2017 or a 2% increase. Condo/townhome market times saw a smaller decrease of 32% this January with 13 days on the market, compared to the 19 days we saw at this time last year.

Aurora Real Estate Market Conditions: January 2018 market time

Aurora New Listings

During January 2018, 155 single family homes were listed for sale in Aurora, compared to the 131 new listings last year, an increase of 18%. New condo/town home listings have had an noted decrease of 18% with 54 new listings this January compared to the 66 last year at this time.

Aurora Real Estate Market Conditions: January 2018 new listings

Aurora Months Supply

Aurora single family home inventory decreased by 15% this January, 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 2.0 months. The months supply of condos/townhomes in Aurora is super low with only 0.9 months supply for sale, down an amazing 44% from last January 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: January 2018 months supply

#AuroraRealEstate #AuroraRealEstateMarket

Elmhurst Real Estate Market Conditions – January 2018

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Elmhurst Real Estate Market Update

The Elmhurst Real Estate Market is still pretty strong in January despite the lack of inventory. Single family home sales increased and market times decreased. 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 decreased in January. Homes were on the market for an average of 136 days compared to 150 days last year at the same time, a 9.3% decrease. Condos and townhomes sold super fast in January. The average time a condo/townhome stayed on the market was 38 days compared to last year when it was 198 days, more than an 80% decrease.

Elmhurst real estate market times Jan 2018

Elmhurst Months Supply

Single family home inventories in Elmhurst had 2.9 months of supply at the end of January, more than a 21% decrease compared to last year at this time when the months supply was 3.7. The supply of condos and townhomes increased slightly, 4.2% in January with 2.5 months supply this year compared to last year when the months supply was 2.4.

Elmhurst real estate months supply Jan 2018

Elmhurst Homes For Sale

At the end of January there were 152 single family homes for sale in Elmhurst, a 15.6% decrease from last January when there were 180 homes for sale. The number of condos and townhomes for sale increased 11% in January with 20 for sale this year compared to last year when there were 18 for sale.

Elmhurst real estate homes for sale Jan 2018

Elmhurst New Listings

New listings saw a decrease during January with 83 single family homes newly listed compared to the 90 listed in January 2017, a decrease of 7.8%. Condos and townhomes saw a 10% decrease with 9 listed for sale this January compared to 10 new listings at this time last year.

Elmhurst real estate new listings Jan 2018

Elmhurst Real Estate Closings

The number of single family home closings increased 29.2% with 31 closings this January, compared to 24 closings last January. Condo and townhome closings had a 50% increase in closed sales with 3 closings this year compared to 2 last January.

Elmhurst real estate closed sales Jan 2018

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Buffalo Grove Real Estate Market Conditions – Sluggish Start To 2018 In January

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Buffalo Grove Real Estate Market Update

Buffalo Grove real estate sales got off to slow start in January 2018 resulting primarily from inventory levels remaining very tight with new listings not meeting potential buyer demand. I read an article that I believe puts our current inventory situation in good perspective … to paraphrase; putting your home up for sale before the Spring is like trying to beat rush hour traffic in the morning. By leaving at 5 or 6am allows you to arrive at work more quickly. The same applies to our Real Estate market, there is so little inventory on the market right now and typically we find more serious Buyers, as opposed to lookers, which will potentially allow you to sell your home more quickly and move on to your next chapter. Something to think about …

Single Family Homes:

Average Market Time

The average time a single family home remains on the market in Buffalo Grove was 110 days in January 2017, which was down from 132 days in January 2016.

Buffalo Grove Real Estate Market Conditions January 2018 Market Time

Months Supply

As of February 1, 2018, there is 1.9 months supply of single family homes for sale in Buffalo Grove compared to 2.2 last year. Anything under 5 months is considered a seller’s market. Now is definitely a good time to consider selling.

Buffalo Grove Real Estate Market Conditions January 2018 Months Supply

Homes For Sale

At the end of January 2018, there are 65 single family homes for sale in Buffalo Grove, compare that to the 80 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 Conditions January 2018 Homes for sale

New Listings

48 single family homes were listed for sale in January of 2018, compared to 57 new listings last year. New listings just are not keeping up with the pent up demand of buyers.

Buffalo Grove Real Estate Market Conditions January 2018 New listings

Homes Under Contract

The lack of new listings over the past couple of months have not satisfied the demand as25 single family homes went under contract in Buffalo Grove in January 2018 a significant decrease from 38 in January 2017.

Buffalo Grove Real Estate Market Conditions January 2018 Under Contract

Closings

18 Single family homes closed in January 2018, down from 27 in January 2017.

Buffalo Grove Real Estate Market Conditions January 2018 Closings

Condos and Townhomes:

Average Market Time

The time Condos and Townhomes remains on the market in Buffalo Grove was 62 days which is up slightly from 60 days in January 2017. This remains a low figure and reflects the competiveness we are facing with Condos and Townhomes.

Buffalo Grove Real Estate Market Conditions January 2018 Market Time

Months Supply

As of February 1, 2018, there is a ridiculously low 1.7 months supply of Condos and Townhomes for sale in Buffalo Grove down from last year’s figure of 2.0. Buyers have to move quickly when an attractive listing hits the market!

Buffalo Grove Real Estate Market Conditions January 2018 Months Supply

Homes For Sale

At the end of January 2018, there are 53 Condos and Townhomes for sale in Buffalo Grove, compare that to the 65 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 January 2018 Homes for sale

New Listings

38 Condos and Townhomes were listed for sale in January of 2018, uo from 31 last year, which will help with our inventory shortage, at least a little bit.

Buffalo Grove Real Estate Market Conditions January 2018 New listings

Condos and Townhomes Under Contract

31 Condos and Townhomes went under contract in Buffalo Grove in January, which is an increase from 24 from 2017.

Buffalo Grove Real Estate Market Conditions January 2018 Under Contract

Closings

18 Condos and Townhomes closed in January 2018, down from 25 in 2017. It appears that the main thing holding back sales is a simple lack of inventory.

Buffalo Grove Real Estate Market Conditions January 2018 Closings

#BuffaloGroveRealEstate

Aurora Real Estate Market Conditions: December 2017

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Aurora Real Estate Market Update

Limited inventory continues in December in the Aurora Real Estate making it a great time to sell your home. Limited supply has helped an increase in median sales price as well as dropping the market times for both single family homes as well as condos/townhomes. It is a great time for sellers, as months’ supply continue to decrease putting sellers in an advantageous negotiating position yielding higher sales prices.

Aurora Home Sales

116 single family homes and 47 condo/town homes closed in December. Compare that to the 108 single family home closings at the same time last year and you’ll find a slight increase of about 7% in the number of single family homes sold. Condo and townhome sales in December decreased by 20% from last year with 47 closings this year, compared to the 59 that sold at the same time last year.
Aurora Real Estate Market Conditions: December 2017 closed sales

Aurora Sales Price

During December 2017, there was a noted increase in median sales price for single family homes of nearly 9% with a median sales price of $195,450 this year compared to $179,000 last year. Condo/townhomes saw their median sales price raise to $168,000 this year compared to $158,000 this time last year, or a 6% increase.
Aurora Real Estate Market Conditions: December 2017 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 73 days at the end of December 2017, compared to 87 days on the market in December 2016 or a 16% decrease. Condo/townhome market times saw a smaller decrease of 8% this December with 45 days on the market, compared to the 49 days we saw at this time last year.
Aurora Real Estate Market Conditions: December 2017 market times

Aurora New Listings

During December 2017, 83 single family homes were listed for sale in Aurora, compared to the 72 new listings last year, an increase of 15%. New condo/town home listings have had an astonishing increase of 52% with 32 new listings this December compared to the 21 last year at this time.
Aurora Real Estate Market Conditions: December 2017 new listings

Aurora Months Supply

Aurora single family home inventory decreased significantly by 24% this December, dropping to 1.6 months supply of homes for sale. The months supply of Aurora single family homes for sale at the same time last year was 2.1 months. The months supply of condos/townhomes in Aurora is super low with only 1.0 months supply for sale, down 33% from last December when there were 1.5 months of supply. Anything under a 5 months supply is considered favorable conditions for sellers.
Aurora Real Estate Market Conditions: December 2017 months supply

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