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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

Addison Real Estate Market Conditions – August 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 43% in August. 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 43.5% in August. 33 single family homes closed this year compared to last year at the same time when there were 23 closings. Condo and townhome sales increased 11.1% in August with 10 closing this year compared to 9 closings last year the same time.

Addison real estate closed sales Sept 2018 closed sales

Addison Market Times

Market times for single family homes decreased during August. Single family homes were on the market for an average of 51 days, compared to 62 days in August 2017, a 17.7% decrease. Condo/townhome market times increased 80.8% this August with an average market time of 47 days compared to 26 days last year at the same time.

Addison real estate market time Sept 2018

Addison New Listings

During August 2018, 61 single family homes were listed for sale in Addison, an increase of 56.4% compared to the 39 new listings last August. New condo/town home listings had a 33.3% increase with 12 new listings this August compared to the 9 last year at this time.

Addison real estate new listings Sept 2018

Addison Months Supply

Addison single family home inventory still remains historically low. August ended with 4.5 months of supply, a 8.2% decrease compared to last August when 4.9 months of supply was available. The months supply of condos/townhomes had a small 3.8% decrease from last August with 2.5 months supply for sale this year compared to 2.6 months last year. Anything under a 5 month supply is considered favorable conditions for sellers.

Addison real estate months supply Sept 2018

Addison Homes For Sale

At the end of August there were 114 single family homes for sale in Addison, a 3.6% increase from last August when there were 110 homes for sale. The number of condos and townhomes for sale also increased with 26 for sale this year, a 4% increase from last year when there were 25 for sale.

Addison real estate homes for sale Sept 2018

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Elmhurst Real Estate Market Conditions – August 2018

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Elmhurst Real Estate Market Update

The Elmhurst Real Estate Market had another solid month in August while starting to build up some much needed 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 decreased in August. Homes were on the market for an average of 66 days compared to 101 days last year at the same time, more than a 34% decrease. The average time a condo/townhome stayed on the market was 32 days compared to last year when it was 17 days, an increase of 88.2%.Elmhurst Real Estate Market Conditions - August 2018 market times

Elmhurst Months Supply

Single family home inventories in Elmhurst had a 5.5 month supply at the end of August, a 22.2% increase compared to last year at this time when the months supply was 4.5 months. The supply of condos and townhomes increased tremendously, 276.5% in August with 6.4 months supply this year compared to last year when the months supply was 1.7.Elmhurst Real Estate Market Conditions - August 2018 months supply

Elmhurst Homes For Sale

At the end of August there were 274 single family homes for sale in Elmhurst, a 14.2% increase from last August when there were 240 homes for sale. The number of condos and townhomes for sale increased 242.9% in August with 48 for sale this year compared to last year when there were 14 for sale.Elmhurst Real Estate Market Conditions - August 2018 homes for sale

Elmhurst New Listings

August single family homes new listings remained the same with 109 new listings both this year and last year. Condo and townhome new listings decreased 6.7% with 14 listed for sale this August compared to 15 the same time last year.Elmhurst Real Estate Market Conditions - August 2018 new listings

Elmhurst Real Estate Closings

The number of single family home closed sales decreased with 52 closings this August compared to 65 last year, a 20% decrease. Condo and townhome closings had a 21.4% decrease in closed sales with 11 closings this year compared to 14 last August.Elmhurst Real Estate Market Conditions - August 2018 closed sales

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Buffalo Grove Real Estate Market Conditions – August 2018

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Buffalo Grove Real Estate Market Update

The Buffalo Grove real estate market had another solid month in August, while building much needed inventory. Single Family home buyers had been demonstrating great patience and restraint, holding off for well updated homes or great deals. In August, another 92 new single family homes were listed. Condos and Townhomes slowed down a bit in August with an average market time of 68 days. With kids returning to school and Labor Day now past us, the activity should 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 45 days in August 2018, which was down from 51 days in August 2017. There are not many communities in the Chicago area with such a low figure.

Buffalo Grove Real Estate Market Conditions - August 2018 market times

Months Supply

As of September 1, 2018, there are 4.5 months supply of single family homes for sale in Buffalo Grove, up from 3.5 last year. The new listings in the market have really balanced the market as anything under 5 months is considered a seller’s market.

Buffalo Grove Real Estate Market Conditions - August 2018 months supply

Homes For Sale

At the end of August 2018, there are 150 single family homes for sale in Buffalo Grove, compare that to the 124 available at this time last year, we are starting to build up some much needed inventory.

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

New Listings

92 single family homes were listed for sale in August of 2018, compared to 63 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 - August 2018 new listings

Homes Under Contract

31 single family homes went under contract in Buffalo Grove in August 2018 a decrease from 39 in August 2017.

Buffalo Grove Real Estate Market Conditions - August 2018 under contract

Closings

49 Single family homes closed in August 2018, up from 46 in August 2017. Through the 1st eight months of the year, 312 homes have sold this year versus 322 in 2017. There seems to be some good momentum with more available inventory.

Buffalo Grove Real Estate Market Conditions - August 2018 closings

Condos and Townhomes:

Average Market Time

The time Condos and Townhomes remained on the market in Buffalo Grove was 68 days which is up from 42 days in July 2017.

Buffalo Grove Real Estate Market Conditions - August 2018 market times

Months Supply

As of September 1, 2018, there is a very low 3.0 months supply of Condos and Townhomes for sale in Buffalo Grove up slightly from last year’s figure of 2.8. Buyers have to move quickly when an attractive listing hits the market!

Buffalo Grove Real Estate Market Conditions - August 2018 months supply

Homes For Sale

At the end of August 2018, there are 97 Condos and Townhomes for sale in Buffalo Grove, compare that to the 88 available at this time last year and you’ll see that inventory remains tight, but improving.

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

New Listings

52 Condos and Townhomes were listed for sale in August of 2018, down from 66 last year.

Buffalo Grove Real Estate Market Conditions - August 2018 new listings

Condos and Townhomes Under Contract

25 Condos and Townhomes went under contract in Buffalo Grove in August, which is a decrease from 37 from 2017.

Buffalo Grove Real Estate Market Conditions - August 2018 under contract

Closings

29 Condos and Townhomes closed in August 2018, up from 26 in 2017. Through 8 months, we have seen 283 sales this year versus 260 in 2017.

Buffalo Grove Real Estate Market Conditions - August 2018 closings

#BuffaloGroveRealEstate

Aurora Real Estate Market Conditions – July 2018

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Aurora Real Estate Market Update

The Aurora Real Estate begins to show signs of life in July. There was an increase in median sales price for both single family homes and condo/town homes sold in July 2018. In addition, a decrease in market times for both property types makes the market perfect for sellers to capitalize. Single family home sellers have begun to realize these market conditions resulting in a 26% increase in new listings, however there was a 5% decrease in new listings for 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

167 single family homes and 74 condo/town homes closed in July. Compare that to the 176 single family home closings at the same time last year and you’ll find an decrease of about 5% in the number of single family homes sold. Condo and townhome sales in July slightly increased from last year with 74 closings this year, or about 3%, compared to the 72 that sold at the same time last year.

Aurora Real Estate Market Conditions - July 2018 closed sales

Aurora Sales Price

During July 2018, there was an increase in median sales price for single family homes of just over 11% with a median sales price of $240,000 this year compared to $216,000 last year. Condo/townhomes saw their median sales price slightly increase to $179,000 this year compared to $172,500 this time last year, or about a 4% increase.

Aurora Real Estate Market Conditions - July 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 14 days at the end of July 2018, compared to 15 days on the market in July 2017 or a 7% decrease. Condo/townhome market times stayed the same this July with 8 days on the market, compared to the 8 days we saw at this time last year.

Aurora Real Estate Market Conditions - July 2018 market time

Aurora New Listings

During July 2018, 245 single family homes were listed for sale in Aurora, compared to the 195 new listings last year, an increase of 26%. New condo/town home listings have had a decrease of 5% with 94 new listings this July compared to the 99 last year at this time.

Aurora Real Estate Market Conditions - July 2018 new listings

Aurora Months Supply

Aurora single family home inventory decreased by 14% this July, dropping to 2.4 months supply of homes for sale. The months supply of Aurora single family homes for sale at the same time last year was 2.8 months. The months supply of condos/townhomes in Aurora is super low with only 2.0 months supply for sale, up 18% from last July when there were 1.7 months of supply. Anything under a 5 months supply is considered favorable conditions for sellers.

Aurora Real Estate Market Conditions - July 2018 months supply

#AuroraRealEstate #AuroraRealEstateMarket