Buffalo Grove Real Estate Market Conditions – November 2019

Buffalo Grove Real Estate Market Update

The Buffalo Grove Real Estate market had a solid November. With the holidays upon us, inventory levels, market times, homes closing and under contract for both Single Family homes and Townhomes and Condos were all solid. Detached single family home sales have rallied nicely over the past 5 months, to the point where they are equal to 2018 sales. There is a nice supply of homes available for sale and demand is relatively strong.

Single Family Homes:

Average Market Time

The average time a single family home remains on the market in Buffalo Grove was 87 days in November 2019, which was up from 75 days in November 2018. 87 days is a relatively short period of time compared with much of the Chicagoland area, particularly this time of year.

Buffalo Grove Real Estate Market Conditions - November 2019 market time

Months Supply

As of December 1, 2019, there is 3.1 months supply of single family homes for sale in Buffalo Grove, down from 3.5 last year. Anything under 5 months is considered a seller’s market.

Buffalo Grove Real Estate Market Conditions - November 2019 months supply

Homes For Sale

At the end of November 2019, there are 107 single family homes for sale in Buffalo Grove, compare that to the 115 available at this time last year and you’ll see that inventory is stabile with plenty of options for buyers to consider.

Buffalo Grove Real Estate Market Conditions - November 2019 homes for sale

New Listings

29 single family homes were listed for sale in November of 2019, compared to 37 new listings last year.

Buffalo Grove Real Estate Market Conditions - November 2019 new listings

Homes Under Contract

20 single family homes went under contract in Buffalo Grove in November 2019 a slight decrease from 21 in November 2018.

Buffalo Grove Real Estate Market Conditions - November 2019 under contract

Closings

26 Single family homes closed in November 2019, up from 15 in November 2018, the 5th straight month that closings increased over 2018. Through the first 11 months of 2019, we have registered 383 closings in 2019, equaling last year’s number.

Buffalo Grove Real Estate Market Conditions - November 2019 closed sales

Condos and Townhomes:

Average Market Time

The time Condos and Townhomes remains on the market in Buffalo Grove was 83 days, which is up from 59 days in November 2018.

Buffalo Grove Real Estate Market Conditions - November 2019 market time

Months Supply

As of December 1, 2019, there is 3.7 months supply of Condos and Townhomes for sale in Buffalo Grove up from last year’s figure of 3.1. Buyers still have to move quickly when an attractive listing hits the market!

Buffalo Grove Real Estate Market Conditions - November 2019 months supply

Homes For Sale

At the end of November 2019, there are 105 Condos and Townhomes for sale in Buffalo Grove, compare that to the 96 available at this time last year and you’ll see that inventory has improved.

Buffalo Grove Real Estate Market Conditions - November 2019 homes for sale

New Listings

32 Condos and Townhomes were listed for sale in November of 2019, a decrease of 34 from last year.

Buffalo Grove Real Estate Market Conditions - November 2019 new listings

Under Contract

24 Condos and Townhomes went under contract in Buffalo Grove in November, up from 19 last year.

Buffalo Grove Real Estate Market Conditions - November 2019 under contract

Closings

18 Condos and Townhomes closed in November 2019, down from 19 in 2018. For the first 11 months, we have seen 314 closings so far this year, compared to 356 in 2018.

Buffalo Grove Real Estate Market Conditions - November 2019 closings

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The post Buffalo Grove Real Estate Market Conditions – November 2019 appeared first on Getting Real.

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