Buffalo Grove Real Estate Market Update
The Buffalo Grove Real Estate Market continues to see good market conditions despite the low inventory. Single family home sales increased more than 12% and inventory decreased more than 68% in November.
Single family home market times decreased in November. Homes were on the market for an average of 29 days compared to 55 days last year at the same time, a 47.3% decrease. The average time a condo/townhome stayed on the market was 40 days compared to last year when it was 69 days, a decrease of 42%.
Single family home inventories in Buffalo Grove had a 0.6 month supply at the end of November, a 68.4% decrease compared to last year at this time when the months supply was 1.9 months. The supply of condos and townhomes decreased 74.4% in November with a 1.1 month supply this year compared to last year when the months supply was 4.3 months.
Homes For Sale
At the end of November there were 25 single family homes for sale in Buffalo Grove, a decrease of 62.1% from last year when there were 66 homes for sale. The number of condos and townhomes for sale decreased 63.6% in November with 47 for sale this year compared to last year when there were 129 for sale.
November single family home new listings decreased with 28 new listings compared to 44 last year at the same time, a 36.4% decrease. Condo and townhome new listings decreased with 29 new listings compared to 62 last year at the same time, a 53.2% decrease.
Real Estate Closings
The number of single family home sales increased with 37 closings this November compared to 33 last year, a 12.1% increase. Condo and townhome closings increased 9.7% with 34 closings this November, compared to the same time last year when there were 31 closings.