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Aurora Real Estate Market Conditions – September 2018

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Aurora Real Estate Market Update

The Aurora Real Estate slows in September. There was an decrease in home sales for both single family homes and condo/town homes sold in September 2018. In addition, a decrease in market times for single family homes makes the market perfect for sellers to capitalize. Sellers have begun to capitalize on these conditions with an increase in new listings for both single family homes and condo/town homes. Months supply remains critically low for both single family homes and condo/town homes continuing to be a marketplace for sellers.

Aurora Home Sales

127 single family homes and 56 condo/town homes closed in September. Compare that to the 136 single family home closings at the same time last year and you’ll find an decrease of about 7% in the number of single family homes sold. Condo and townhome sales in September took a dip from last year with 56 closings this year, or about a drop of 26%, compared to the 76 that sold at the same time last year.

Aurora Real Estate Market Conditions - September 2018 closed sales

Aurora Sales Price

During September 2018, there was a decrease in median sales price for single family homes of just over 5% with a median sales price of $193,000 this year compared to $202,250 last year. Condo/townhomes saw their median sales price slightly increase to $175,000 this year compared to $162,250 this time last year, or about a 8% increase.

Aurora Real Estate Market Conditions - September 2018 sales price

Aurora Market Times

Market times for single family homes decreased and condos/townhomes in Aurora increased this year. Single family homes were on the market for 21 days at the end of September 2018, compared to 24 days on the market in September 2017 or a 13% decrease. Condo/townhome market times significantly increased this September with 22 days on the market, compared to the 13 days we saw at this time last year or a 9% jump.

Aurora Real Estate Market Conditions - September 2018 market time

Aurora New Listings

During September 2018, 207 single family homes were listed for sale in Aurora, compared to the 185 new listings last year, an increase of 12%. New condo/town home listings have had an increase of 31% with 103 new listings this September compared to the 79 last year at this time.

Aurora Real Estate Market Conditions - September 2018 new listings

Aurora Months Supply

Aurora single family home inventory increased by 8% this September, jumping to 2.7 months supply of homes for sale. The months supply of Aurora single family homes for sale at the same time last year was 2.5 months. The months supply of condos/townhomes in Aurora is jumped to 2.2 months supply for sale, up 38% from last September 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 - September 2018 months supply

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Elmhurst Real Estate Market Conditions – September 2018

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Elmhurst Real Estate Market Update

The Elmhurst Real Estate Market had another solid month in September while starting to build up some much needed inventory. With the limited inventory buyers still need to act quickly when a new listing comes on the market.

Elmhurst Market Times

Single family home market times increased in September. Homes were on the market for an average of 114 days compared to 112 days last year at the same time, a slight 1.8% increase. The average time a condo/townhome stayed on the market was 62 days compared to last year when it was 8 days, an increase of 675%.

Elmhurst Real Estate Market Conditions - September 2018 market times

Elmhurst Months Supply

Single family home inventories in Elmhurst had a 5.6 month supply at the end of September, a 24.4% increase compared to last year at this time when the months supply was 4.5 months. The supply of condos and townhomes increased tremendously, 190.5% in September with 6.1 months supply this year compared to last year when the months supply was only 2.1.

Elmhurst Real Estate Market Conditions - September 2018 months supply

Elmhurst Homes For Sale

At the end of September there were 278 single family homes for sale in Elmhurst, a 19.3% increase from last September when there were 233 homes for sale. The number of condos and townhomes for sale increased 182.4% in September with 48 for sale this year compared to last year when there were 17 for sale.

Elmhurst Real Estate Market Conditions - September 2018 homes for sale

Elmhurst New Listings

September single family homes new listings increased with 119 new listings compared to 102 last year at the same time, a 16.7% increase. Condo and townhome new listings increased 60% with 16 listed for sale this September compared to 10 the same time last year.

Elmhurst Real Estate Market Conditions - September 2018 new listings

Elmhurst Real Estate Closings

The number of single family home closed sales decreased with 42 closings this September compared to 48 last year, a 12.5% decrease. Condo and townhome closings had a 14.3% increase in closed sales with 8 closings this year compared to 7 last September.

Elmhurst Real Estate Market Conditions - September 2018 closed sales

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Buffalo Grove Real Estate Market Conditions – September 2018

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Buffalo Grove Real Estate Market Update

The Buffalo Grove real estate market had another solid month in September, continuing to build much needed inventory. Single Family home buyers had been demonstrating great patience and restraint, holding off for well updated homes or great deals. Condos and Townhomes closings slowed down in September, but average market time of 31 days is still very low! With Fall upon us, the activity will slow down some, but there are still active buyers in the market!

Single Family Homes:

Average Market Time

The average time a single family home remained on the market in Buffalo Grove was 72 days in September 2018, which was down from 125 days in September 2017. There are not many communities in the Chicago area with such a low figure.

Buffalo Grove Real Estate Market Conditions - September 2018 market time

Months Supply

As of October 1, 2018, there are 4.1 months supply of single family homes for sale in Buffalo Grove, up from 3.3 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 - September 2018 months supply

Homes For Sale

At the end of September 2018, there are 138 single family homes for sale in Buffalo Grove, compare that to the 119 available at this time last year, we are starting to build up some much needed inventory.

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

New Listings

67 single family homes were listed for sale in September of 2018, compared to 57 new listings last year, our inventory position is improving and Buyers got off the fence this Spring and Summer.

Buffalo Grove Real Estate Market Conditions - September 2018 new listings

Homes Under Contract

30 single family homes went under contract in Buffalo Grove in September 2018 an increase from 25 in September 2017.

Buffalo Grove Real Estate Market Conditions - September 2018 under contract

Closings

23 Single family homes closed in September 2018, down from 34 in September 2017. Through the 1st nine months of the year, 336 homes have sold this year versus 356 in 2017. There seems to be some good momentum with more available inventory.

Buffalo Grove Real Estate Market Conditions - September 2018 closed sales

Condos and Townhomes:

Average Market Time

The time Condos and Townhomes remained on the market in Buffalo Grove was 31 days which is down from 57 days in July 2017. Condos and Townhomes are seemingly selling as quickly as they are listed.

Buffalo Grove Real Estate Market Conditions - September 2018 market time

Months Supply

As of October 1, 2018, there is a very low 2.9 months supply of Condos and Townhomes for sale in Buffalo Grove up slightly from last year’s figure of 2.6. Buyers have to move quickly when an attractive listing hits the market!

Buffalo Grove Real Estate Market Conditions - September 2018 months supply

Homes For Sale

At the end of September 2018, there are 91 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 tight, but improving.

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

New Listings

49 Condos and Townhomes were listed for sale in September of 2018, up slightly from 48 last year.

Buffalo Grove Real Estate Market Conditions - September 2018 new listings

Condos and Townhomes Under Contract

27 Condos and Townhomes went under contract in Buffalo Grove in September, which is a decrease from 32 from 2017.

Buffalo Grove Real Estate Market Conditions - September 2018 under contract

Closings

21 Condos and Townhomes closed in September 2018, down from 35 in 2017. Through 8 months, we have seen 304 sales this year versus 295 in 2017.

Buffalo Grove Real Estate Market Conditions - September 2018 closed sales

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Addison Real Estate Market Conditions – September 2018

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Addison Real Estate Market Update

The Addison Real Estate Market continues to see good market conditions despite the extremely low inventory. Single family home sales increased more than 20% in September. The extremely low inventory is still making it really difficult for buyers to find a home, benefiting home sellers.

Addison Home Sales

Single family home sales in Addison increased 20.8% in September. 29 single family homes closed this year compared to last year at the same time when there were 24 closings. Condo and townhome sales decreased more than 18% in September with 9 closing this year compared to 11 closings last year the same time.Addison Real Estate Market Conditions - September 2018 closed sales

Addison Market Times

Market times for single family homes had a considerable decrease during September. Single family homes were on the market for an average of 43 days, compared to 67 days in September 2017, a 35.8% decrease. Condo/townhome market times also decreased considerably, a 41.3% decrease this September with the average market time of 37 days compared to 63 days last year at the same time.Addison Real Estate Market Conditions - September 2018 market time

Addison New Listings

During September 2018, 42 single family homes were listed for sale in Addison, an increase of 7.7% compared to the 39 new listings last September. New condo/town home listings had a 12.5% decrease with 21 new listings this September compared to the 24 last year at this time.Addison Real Estate Market Conditions - September 2018 new listings

Addison Months Supply

Addison single family home inventory is still super low. September ended with 4.1 months of supply, a 19.6% decrease compared to last September when 5.1 months of supply was available. The months supply of condos/townhomes had a 11.8% decrease from last September with 3 months supply for sale this year compared to 3.4 months last year. Anything under a 5 month supply is considered favorable conditions for sellers.Addison Real Estate Market Conditions - September 2018 months supply

Addison Homes For Sale

At the end of September there were 103 single family homes for sale in Addison, a 10.4% decrease from last September when there were 115 homes for sale. The number of condos and townhomes for sale also decreased with 30 for sale this year, a 6.3% decrease from last year when there were 32 for sale.Addison Real Estate Market Conditions - September 2018 homes for sale

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Aurora Real Estate Market Conditions – August 2018

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Aurora Real Estate Market Update

The Aurora Real Estate continues its growth in August. There was an increase in median sales price for both single family homes and condo/town homes sold in August 2018. In addition, a decrease in market times for both property types makes the market perfect for sellers to capitalize. Sellers have begun to capitalize on these conditions with an increase in new listings for both single family homes and condo/town homes. Months supply remains critically low for both single family homes and condo/town homes continuing to be a marketplace for sellers.

Aurora Home Sales

195 single family homes and 68 condo/town homes closed in August. Compare that to the 197 single family home closings at the same time last year and you’ll find an decrease of about 1% in the number of single family homes sold. Condo and townhome sales in August took a dip from last year with 68 closings this year, or about a drop of 31%, compared to the 99 that sold at the same time last year.

Aurora Sales Price

During August 2018, there was an increase in median sales price for single family homes of just over 11% with a median sales price of $239,900 this year compared to $217,000 last year. Condo/townhomes saw their median sales price slightly increase to $178,000 this year compared to $168,000 this time last year, or about a 6% 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 45 days at the end of August 2018, compared to 53 days on the market in August 2017 or a 15% decrease. Condo/townhome market times dropped significantly this August with 27 days on the market, compared to the 44 days we saw at this time last year or a 39% drop.

Aurora New Listings

During August 2018, 240 single family homes were listed for sale in Aurora, compared to the 210 new listings last year, an increase of 14%. New condo/town home listings have had an increase of 3% with 107 new listings this August compared to the 104 last year at this time.

Aurora Months Supply

Aurora single family home inventory decreased by 4% this August, dropping to 2.6 months supply of homes for sale. The months supply of Aurora single family homes for sale at the same time last year was 2.7 months. The months supply of condos/townhomes in Aurora is super low with only 2.0 months supply for sale, up 18% from last August when there were 1.7 months of supply. Anything under a 5 months supply is considered favorable conditions for sellers.

#AuroraRealEstate #AuroraRealEstateMarket