Buffalo Grove Real Estate Market Conditions – February 2019

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Buffalo Grove Real Estate Market Update

The big news for Buffalo Grove real estate through two months of 2019 is that inventory levels have increased providing buyers more options! Now, if the weather will just improve, I expect sales will respond accordingly … stay tuned!

Single Family Homes:

Average Market Time

The average time a single family home remains on the market in Buffalo Grove was 107 days in Febuary 2019, which was down significantly from 141 days in February 2018.

Months Supply

As of March 1, 2019, there is 2.7 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.

Homes For Sale

At the end of February 2019, there are 94 single family homes for sale in Buffalo Grove, compare that to the 72 available at this time last year and you’ll see that inventory has improved.

New Listings

56 single family homes were listed for sale in February of 2019, compared to 50 new listings last year. We should see a significant influx of new homes listed over the next couple of months.

Homes Under Contract

37 single family homes went under contract in Buffalo Grove in February 2019 an increase from 32 in February 2018.

Closings

14 Single family homes closed in February 2019, down from 19 in February 2018. Through two months, we have registered 33 closings in 2019 versus 37 in 2018.

Condos and Townhomes:

Average Market Time

The time Condos and Townhomes remains on the market in Buffalo Grove was 76 days which is up slightly from 72 days in February 2018. This is a relatively low figure for the greater Chicagoland area.

Months Supply

As of March 1, 2019, there are 2.8 months supply of Condos and Townhomes for sale in Buffalo Grove up from last year’s figure of 1.8. Buyers still have to move quickly when an attractive listing hits the market!

Homes For Sale

At the end of February 2019, there are 83 Condos and Townhomes for sale in Buffalo Grove, compare that to the 56 available at this time last year and you’ll see that inventory has improved nicely.

New Listings

51 Condos and Townhomes were listed for sale in February of 2019, an increase of 12 from last year.

Condos and Townhomes Under Contract

33 Condos and Townhomes went under contract in Buffalo Grove in February, which is a slight decrease from 34 from 2018.

Closings

15 Condos and Townhomes closed in February 2019, down from 27 in 2018. For January and February, we have seen 32 closings so far this year, compared to 45 through two months in 2018.

#BuffaloGroveRealEstate

 

 

 

 

 

 

 

 

Eddie Nusinow

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