Archive for the ‘Buffalo Grove’ Category:

Buffalo Grove Real Estate Market Conditions – May 2020

Buffalo Grove Real Estate Market Update

My continued thoughts and prayers go out to everyone affected by COVID-19 and I hope you are staying safe and healthy. With our new reality, I know many people are curious about what is going on in the Real Estate market and I will continue to provide my monthly update. The Buffalo Grove real estate market is proving to be very resilient, especially for detached single-family homes. For May, despite a significant decline in new listings and total homes for sale, homes going under contract was flat to last year. I believe this is very good news as there was still some solid activity for the month, despite the shelter in place order and it is quite evident that this is not a housing crisis like we experienced in 2008 through 2012. Based on the demand we are seeing from Buyers, it is my expectation that 2020 will be a good Real Estate year, just delayed more to the Summer and Fall. The next couple of months will sure be interesting to see how we come out of this situation. Stay safe everyone!

Single Family Homes:

Average Market Time

The average time a single-family home remains on the market in Buffalo Grove was 79 days in May 2020, which was up from 65 days in May 2019, which is a pretty low number for the Chicagoland area.

Buffalo Grove Real Estate Market Conditions - May 2020 market times

Months Supply

As of June 1, 2020, there is 3.2 months supply of single-family homes for sale in Buffalo Grove compared to 5.8 last year. Anything under 5 months is considered a seller’s market. This is a key measure demonstrating that we aren’t experiencing a crisis like 2008 and due to a relative lack of inventory, prices should remain stable.

Buffalo Grove Real Estate Market Conditions - May 2020 months supply

Homes For Sale

At the end of May 2020, there are 107 single family homes for sale in Buffalo Grove, compare that to the 180 available at this time last year and you’ll see that inventory has declined significantly, which was predictable. Based on recent trends, I anticipate that June and even July will be busy listing periods this year.

Buffalo Grove Real Estate Market Conditions - May 2020 homes for sale

New Listings

66 single family homes were listed for sale in May of 2020, compared to 129 new listings last year. March, April, and May are typically the biggest months for new listings!

Buffalo Grove Real Estate Market Conditions - May 2020 new listings

Homes Under Contract

37 single family homes went under contract in Buffalo Grove in May 2020, equaling the amount for May 2019. I believe this is the really exciting news and I am pleasantly surprised by the amount of activity despite the shelter in place order.

Buffalo Grove Real Estate Market Conditions - May 2020 under contract

Closings

25 Single-family homes closed in May 2020, decrease from 36 in May 2019. For the first five months of 2020, 128 homes have closed this year versus 137 in 2019.

Buffalo Grove Real Estate Market Conditions - May 2020 closed sales

Condos and Townhomes:

Average Market Time

The time Condos and Townhomes remains on the market in Buffalo Grove was 60 days which is down from 65 days in May 2019.

Buffalo Grove Real Estate Market Conditions - May 2020 market times

Months Supply

As of June 1, 2020, there is 4.7 months supply of Condos and Townhomes for sale in Buffalo Grove up from last year’s figure of 3.8.

Buffalo Grove Real Estate Market Conditions - May 2020 months supply

Homes For Sale

At the end of May 2020, there are 118 Condos and Townhomes for sale in Buffalo Grove, compare that to the 112 available at this time last year, and you will see that there is an increase in inventory.

Buffalo Grove Real Estate Market Conditions - May 2020 homes for sale

New Listings

63 Condos and Townhomes were listed for sale in May of 2020, down from 89 last year. Overall, the townhome and Condo activity has slowed more than single-family homes this year.

Buffalo Grove Real Estate Market Conditions - May 2020 new listings

Condos and Townhomes Under Contract

26 Condos and Townhomes went under contract in Buffalo Grove in May, which is a significant decrease from 40 from 2019.

Buffalo Grove Real Estate Market Conditions - May 2020 under contract

Closings

15 Condos and Townhomes closed in May 2020, down from 38 in 2019. For the first five months, we have had 117 closings in 2020, a decline from 144 in 2019.

Buffalo Grove Real Estate Market Conditions - May 2020 closed sales

#BuffaloGroveRealEstate

 

The post Buffalo Grove Real Estate Market Conditions – May 2020 appeared first on Getting Real.

Buffalo Grove Real Estate Conditions – April 2020

Buffalo Grove Real Estate Market Update

My thoughts and prayers go out to everyone affected by COVID-19 and I hope you are staying safe and healthy. With our new reality, I know many people are curious about what is going on in the Real Estate market and I wanted to provide my monthly update. The Buffalo Grove real estate market activity had some predictable outcomes in April with significant declines in showings, new listings, homes for sale, homes under contract, and closings. I do believe the very good news is that there was still some solid activity for the month, despite the shelter in place order and it is quite evident that this is not a housing crisis like we experienced in 2008 through 2012. Based on the demand we are seeing from Buyers, it is my expectation that 2020 will be a good Real Estate year, just delayed more to the Summer and Fall. The next couple of months will sure be interesting to see how we come out of this situation. Stay safe everyone!

Single Family Homes:

Average Market Time

The average time a single family home remains on the market in Buffalo Grove was 108 days in April 2020, which was down from 115 days in April 2019.

Months Supply

As of May 1, 2020, there is 3.0 months supply of single family homes for sale in Buffalo Grove compared to 4.8 last year. Anything under 5 months is considered a seller’s market. This is a key measure demonstrating that we aren’t experiencing a crisis like 2008 and due to a relative lack of inventory, prices should be stable.

Homes For Sale

At the end of April 2020, there are 98 single family homes for sale in Buffalo Grove, compare that to the 151 available at this time last year and you’ll see that inventory has declined, which was predictable. Based on recent trends, I anticipate May and June will be busy listing periods this year.

New Listings

32 single family homes were listed for sale in April of 2020, compared to 103 new listings last year. March, April, and May are typically the biggest months for new listings!

Homes Under Contract

21 single family homes went under contract in Buffalo Grove in April 2020, a decrease from 44 in April 2019. I think it is easy to dwell on the decline from last year, but I am pleasantly surprised by the amount of activity despite the shelter in place order.

Closings

30 Single family homes closed in April 2020, decrease from 44 in April 2019. For the first four of 2020, 102 homes have closed this year versus 101 in 2019.

Condos and Townhomes:

Average Market Time

The time Condos and Townhomes remains on the market in Buffalo Grove was 59 days which is down from 75 days in April 2019.

Months Supply

As of May 1, 2020, there is 4.0 months supply of Condos and Townhomes for sale in Buffalo Grove up from last year’s figure of 3.1.

Homes For Sale

At the end of April 2020, there are 105 Condos and Townhomes for sale in Buffalo Grove, compare that to the 92 available at this time last year.

New Listings

34 Condos and Townhomes were listed for sale in April of 2020, down from 74 last year, which was expected.

Condos and Townhomes Under Contract

19 Condos and Townhomes went under contract in Buffalo Grove in April, which is a significant decrease from 41 from 2019.

Closings

29 Condos and Townhomes closed in April 2020, down from 49 in 2019. For the first four months, we have had 102 closings in 2020, a small decline from 106 in 2019.

#BuffaloGroveRealEstate

 

 

 

 

The post Buffalo Grove Real Estate Conditions – April 2020 appeared first on Getting Real.

Buffalo Grove Real Estate Market Conditions – March 2020

Buffalo Grove Real Estate Market Update

My thoughts and prayers go out to everyone affected by COVID-19 and I hope you are staying safe and healthy. With our new reality, I know many people are curious about what is going on in the Real Estate market and I wanted to provide my monthly update. The Buffalo Grove real estate market had a very solid 1st quarter of 2020 with significant increases in closings for both detached single-family homes and Condos / Townhomes. The March activity had some predictable outcomes – showings were down over 33% from last year and significantly fewer detached single-family homes were listed for sale. However, we did experience an increase in new listings and total Condos/Townhomes for sale in March, which is a surprise. The next couple of months will sure be interesting to see how COVID-19 affects our normal busiest time of year. Stay safe everyone!

Single Family Homes:

Average Market Time

The average time a single-family home remains on the market in Buffalo Grove was 75 days in March 2020, which was down from 78 days in March 2019.

Buffalo Grove Real Estate Market Conditions - March 2020 market times

Months Supply

As of April 1, 2020, there is 2.8 months supply of single-family homes for sale in Buffalo Grove compared to 3.5 last year. Anything under 5 months is considered a seller’s market.

Buffalo Grove Real Estate Market Conditions - March 2020 months supply

Homes For Sale

At the end of March 2020, there are 99 single family homes for sale in Buffalo Grove, compare that to the 132 available at this time last year and you’ll see that inventory has declined, which was predictable.

Buffalo Grove Real Estate Market Conditions - March 2020 homes for sale

New Listings

62 single family homes were listed for sale in March of 2020, compared to 94 new listings last year. March, April, and May are typically the biggest months for new listings!

Buffalo Grove Real Estate Market Conditions - March 2020 new listings

Homes Under Contract

36 single family homes went under contract in Buffalo Grove in March 2020, a very small decrease from 37 in March 2019, a pleasant surprise.

Buffalo Grove Real Estate Market Conditions - March 2020 under contract

Closings

27 Single-family homes closed in March 2020, an increase from 24 in March 2019. For the 1st Quarter of 2020, 71 homes have closed this year versus 57 in 2019.

Buffalo Grove Real Estate Market Conditions - March 2020 closings

Condos and Townhomes:

Average Market Time

The time Condos and Townhomes remains on the market in Buffalo Grove was 95 days which is down from 101 days in March 2019.

Buffalo Grove Real Estate Market Conditions - March 2020 market times

Months Supply

As of April 1, 2020, there is 3.2 months supply of Condos and Townhomes for sale in Buffalo Grove up from last year’s figure of 2.5.

Buffalo Grove Real Estate Market Conditions - March 2020 months supply

Homes For Sale

At the end of March 2020, there are 93 Condos and Townhomes for sale in Buffalo Grove, compare that to the 76 available at this time last year.

Buffalo Grove Real Estate Market Conditions - March 2020 homes for sale

New Listings

61 Condos and Townhomes were listed for sale in March of 2020, up from 55 last year, which was unexpected.

Buffalo Grove Real Estate Market Conditions - March 2020 new listings

Condos and Townhomes Under Contract

32 Condos and Townhomes went under contract in Buffalo Grove in March, which is a significant decrease from 47 from 2019.

Buffalo Grove Real Estate Market Conditions - March 2020 under contract

Closings

20 Condos and Townhomes closed in March 2020, down from 24 in 2019. For the 1st quarter, we have had 71 closings in 2020, a gain from 57 in 2019. With the significant decrease in homes going under contract in March, April closings should be down significantly.

Buffalo Grove Real Estate Market Conditions - March 2020 closings

#BuffaloGroveRealEstate

 

The post Buffalo Grove Real Estate Market Conditions – March 2020 appeared first on Getting Real.

Buffalo Grove Real Estate Market Conditions – February 2020

Buffalo Grove Real Estate Market Update

Buffalo Grove real estate activity is off to a fast start through the first two months of 2020, with significant increases in closings and homes under contract for both Single Family Homes and Condos/Townhomes. However, months of supply is very low, meaning that there are more Buyers than homes for sale. While we did experience an increase in new listings, It will be interesting to see if more potential Sellers will list earlier this year to take advantage of the demand as we approach Spring with historically low interest rates.

Single Family Homes:

Average Market Time

The average time a single family home remains on the market in Buffalo Grove was 85 days in February 2020, which was down from 107 days in February 2019.

Months Supply

As of March 1, 2020, there is 2.5 months supply of single family homes for sale in Buffalo Grove compared to 2.9 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 2020, there are 91 single family homes for sale in Buffalo Grove, compare that to the 100 available at this time last year and you’ll see that inventory has declined.

New Listings

69 single family homes were listed for sale in February of 2020, compared to 56 new listings last year. We should see a significant influx of new homes listed over the next couple of months.

Homes Under Contract

43 single family homes went under contract in Buffalo Grove in February 2020 a nice improvement from 31 in February 2019, which demonstrates that Buyers are active.

Closings

26 Single family homes closed in February 2020, a significant increase from 14 in February 2019. Through two months, 44 homes have closed this year versus 33 in 2019. A fast start to 2020!

Condos and Townhomes:

Average Market Time

The time Condos and Townhomes remains on the market in Buffalo Grove was 87 days which is up from 76 days in February 2019.

Months Supply

As of March 1, 2020, there is 2.6 months supply of Condos and Townhomes for sale in Buffalo Grove down from last year’s figure of 2.9. Buyers still have to move quickly when an attractive listing hits the market!

Homes For Sale

At the end of February 2020, there are 78 Condos and Townhomes for sale in Buffalo Grove, compare that to the 86 available at this time last year and you’ll see that inventory levels have weakened.

New Listings

55 Condos and Townhomes were listed for sale in February of 2020, up from 51 last year.

Condos and Townhomes Under Contract

33 Condos and Townhomes went under contract in Buffalo Grove in February, which is an increase from 30 from 2019, reflecting a lot of activity in the area.

Closings

30 Condos and Townhomes closed in February 2020, up significantly from 16 in 2019. Through February, we have had 50 closings in 2020, a significant gain from 33 in 2019!

#BuffaloGroveRealEstate

The post Buffalo Grove Real Estate Market Conditions – February 2020 appeared first on Getting Real.

Buffalo Grove Real Estate Market Conditions – January 2020

Buffalo Grove Real Estate Market Update

Buffalo Grove real estate activity got off to a solid start in January 2020 with significant increases in homes going under contract for both Single Family Homes and Condos/Townhomes. However, months of supply is very low, meaning that there are more Buyers than homes for sale. It will be interesting to see if potential Sellers will list earlier this year to take advantage of the demand as we approach Spring.

Single Family Homes:

Average Market Time

The average time a single family home remains on the market in Buffalo Grove was 137 days in January 2020, which was up from 114 days in January 2019.

Buffalo Grove Real Estate Market Conditions - January 2020 market time

Months Supply

As of February 1, 2020, there is 2.2 months supply of single family homes for sale in Buffalo Grove compared to 2.7 last year. Anything under 5 months is considered a seller’s market. Now is definitely a good time to consider selling.

Buffalo Grove Real Estate Market Conditions - January 2020 months supply

Homes For Sale

At the end of January 2020, there are 76 single family homes for sale in Buffalo Grove, compare that to the 93 available at this time last year and you’ll see that inventory has declined.

Buffalo Grove Real Estate Market Conditions - January 2020 homes for sale

New Listings

57 single family homes were listed for sale in January of 2020, compared to 49 new listings last year. We should see a significant influx of new homes listed over the next couple of months.

Buffalo Grove Real Estate Market Conditions - January 2020 new listings

Homes Under Contract

39 single family homes went under contract in Buffalo Grove in January 2020 a nice improvement from 24 in January 2019, which demonstates that Buyers are active.

Buffalo Grove Real Estate Market Conditions - January 2020 under contract

Closings

18 Single family homes closed in January 2020, down nominally from 19 in January 2019.

Buffalo Grove Real Estate Market Conditions - January 2020 closed sales

Condos and Townhomes:

Average Market Time

The time Condos and Townhomes remains on the market in Buffalo Grove was 86 days which is up slightly from 81 days in January 2019.

Buffalo Grove Real Estate Market Conditions - January 2020 market time

Months Supply

As of February 1, 2020, there is 2.5 months supply of Condos and Townhomes for sale in Buffalo Grove down from last year’s figure of 2.8. Buyers still have to move quickly when an attractive listing hits the market!

Buffalo Grove Real Estate Market Conditions - January 2020 months supply

Homes For Sale

At the end of January 2020, there are 76 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 levels have weakened.

Buffalo Grove Real Estate Market Conditions - January 2020 homes for sale

New Listings

47 Condos and Townhomes were listed for sale in January of 2019, up from 38 last year.

Buffalo Grove Real Estate Market Conditions - January 2020 new listings

Condos and Townhomes Under Contract

34 Condos and Townhomes went under contract in Buffalo Grove in January, which is a significant increase from 18 from 2019, reflecting a lot of activity in the area.

Buffalo Grove Real Estate Market Conditions - January 2020 under contract

Closings

20 Condos and Townhomes closed in January 2020, up from 17 in 2019.

Buffalo Grove Real Estate Market Conditions - January 2020 closed sales

#BuffaloGroveRealEstate

The post Buffalo Grove Real Estate Market Conditions – January 2020 appeared first on Getting Real.

Buffalo Grove Real Estate Market Conditions – December 2019

Buffalo Grove Real Estate Market Update

The Buffalo Grove Real Estate market finished 2019 with a solid December.  Inventory levels and market times are low and detached home closings rallied in the back half of the year to exceed the full year 2018’s figure. Townhome and Condo sales fell off in 2019 by 11%. Demand remains relatively strong, as we watch for the 2020 season to kick off.

Single Family Homes:

Average Market Time

The average time a single family home remains on the market in Buffalo Grove was 78 days in December 2019, which was down from 105 days in December 2018. 78 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 - December 2019

Months Supply

As of January 1, 2020, there is 2.6 months supply of single family homes for sale in Buffalo Grove, up slightly from 2.5 last year. Anything under 5 months is considered a seller’s market.

Buffalo Grove Real Estate Market Conditions - December 2019

Homes For Sale

At the end of December 2019, there are 88 single family homes for sale in Buffalo Grove, compare that to the 85 available at this time last year and you’ll see that inventory is stable with fewer options for buyers to consider.

Buffalo Grove Real Estate Market Conditions - December 2019

New Listings

22 single family homes were listed for sale in December of 2019, compared to 24 new listings last year.

Buffalo Grove Real Estate Market Conditions - December 2019

Homes Under Contract

16 single family homes went under contract in Buffalo Grove in December 2019 a decrease from 22 in December 2018.

Buffalo Grove Real Estate Market Conditions - December 2019

Closings

26 Single family homes closed in December 2019, up from 25 in December 2018, the 6th straight month that closings increased over 2018. For 2019, we have registered 410 closings, 2 more than 2018.

Buffalo Grove Real Estate Market Conditions - December 2019

Condos and Townhomes:

Average Market Time

The time Condos and Townhomes remains on the market in Buffalo Grove was 77 days, which is up from 62 days in December 2018.

Buffalo Grove Real Estate Market Conditions - December 2019

Months Supply

As of January 1, 2020, there is 2.8 months supply of Condos and Townhomes for sale in Buffalo Grove up from last year’s figure of 2.5. Buyers still have to move quickly when an attractive listing hits the market!

Buffalo Grove Real Estate Market Conditions - December 2019

Homes For Sale

At the end of December 2019, there are 81 Condos and Townhomes for sale in Buffalo Grove, compare that to the 79 available at this time last year and you’ll see that inventory has remained stable.

Buffalo Grove Real Estate Market Conditions - December 2019

New Listings

25 Condos and Townhomes were listed for sale in December of 2019, an increase from 20 from last year.

Buffalo Grove Real Estate Market Conditions - December 2019

Condos and Townhomes Under Contract

24 Condos and Townhomes went under contract in Buffalo Grove in December, a nice improvement from 16 last year.

Buffalo Grove Real Estate Market Conditions - December 2019

Closings

23 Condos and Townhomes closed in December 2019, up from 21 in 2018. For the full year of 2019, we have seen 337 closings, compared to 377 in 2018, a decrease of 11%.

Buffalo Grove Real Estate Market Conditions - December 2019

#BuffaloGroveRealEstate

 

 

 

 

 

 

 

 

 

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

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

#BuffaloGroveRealEstate

 

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

Buffalo Grove Real Estate Conditions – October 2019

Buffalo Grove Real Estate Market Update

The Buffalo Grove Real Estate market had another good month in October with solid inventory levels, good market times and more homes closing and under contract for both Single Family homes and Townhomes and Condos. Many Buffalo Grove home owners have finally decided to try selling their homes and with interest rates lower than expected, the market now seems to be in favor of the Buyer!

Single Family Homes:

Average Market Time

The average time a single family home remains on the market in Buffalo Grove was 79 days in October 2019, which was down slightly from 80 days in October 2018. 79 days is a relatively short period of time compared with much of the Chicagoland area.

Months Supply

As of November 1, 2019, there is 3.7 months supply of single family homes for sale in Buffalo Grove, down from 4.1 last year. Anything under 5 months is considered a seller’s market, but things seem to be shifting in the favor of the buyer.

Homes For Sale

At the end of October 2019, there are 130 single family homes for sale in Buffalo Grove, compare that to the 137 available at this time last year and you’ll see that inventory has stabilized with plenty of options for buyers to consider.

New Listings

64 single family homes were listed for sale in October of 2019, compared to 57 new listings last year. That’s a very solid number for October.

Homes Under Contract

35 single family homes went under contract in Buffalo Grove in October 2019 a significant increase from 22 in October 2018.

Closings

35 Single family homes closed in October 2019, up from 31 in October 2018, the 4th straight month that closings increased over 2018. Through the first 10 months of 2019, we have registered 357 closings in 2019 versus 368 in 2018.

Condos and Townhomes:

Average Market Time

The time Condos and Townhomes remains on the market in Buffalo Grove was 68 days, which is up significantly from 38 days in October 2018. Still a very low figure when compared to the broader Chicago suburban market.

Months Supply

As of November 1, 2019, there are 4.0 months supply of Condos and Townhomes for sale in Buffalo Grove up from last year’s figure of 3.3. Buyers still have to move quickly when an attractive listing hits the market!

Homes For Sale

At the end of October 2019, there are 112 Condos and Townhomes for sale in Buffalo Grove, compare that to the 104 available at this time last year and you’ll see that inventory has improved.

New Listings

38 Condos and Townhomes were listed for sale in October of 2019, a decrease of 25 from last year.

Condos and Townhomes Under Contract

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

Closings

22 Condos and Townhomes closed in October 2019, down from 32 in 2018. For the first 10 months, we have seen 294 closings so far this year, compared to 337 in 2018.

#BuffaloGroveRealEstate

 

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

Buffalo Grove Real Estate Conditions – September 2019

Buffalo Grove Real Estate Market Update

The Buffalo Grove Real Estate market had a very good September with higher inventory levels, good market times and more homes closing and under contract for both Single Family homes and Townhomes and Condos. Many Buffalo Grove home owners have finally decided to try selling their homes and with interest rates lower than expected, the market now seems to be in favor of the Buyer!

Single Family Homes:

Average Market Time

The average time a single family home remains on the market in Buffalo Grove was 78 days in September 2019, which was up slightly from 75 days in September 2018. 78 days is a relatively short period of time compared with much of the Chicagoland area.

Months Supply

As of October 1, 2019, there is 4.2 months supply of single family homes for sale in Buffalo Grove, the same figure as last year. Anything under 5 months is considered a seller’s market, but things seem to be shifting in the favor of the buyer.

Homes For Sale

At the end of September 2019, there are 143 single family homes for sale in Buffalo Grove, compare that to the 142 available at this time last year and you’ll see that inventory has stabilized with plenty of options for buyers to consider.

New Listings

91 single family homes were listed for sale in September of 2019, compared to 67 new listings last year. That’s a very solid number for September.

Homes Under Contract

38 single family homes went under contract in Buffalo Grove in September 2019 a significant increase from 24 in September 2018.

Closings

34 Single family homes closed in September 2019, up from 24 in September 2018. Through the first 9 months of 2019, we have registered 322 closings in 2019 versus 337 in 2018.

Condos and Townhomes:

Average Market Time

The time Condos and Townhomes remains on the market in Buffalo Grove was 71 days, which is up significantly from 30 days in September 2018. Still a very low figure when compared to the broader Chicago suburban market.

Months Supply

As of October 1, 2019, there are 4.2 months supply of Condos and Townhomes for sale in Buffalo Grove up from last year’s figure of 3.0. Buyers still have to move quickly when an attractive listing hits the market!

Homes For Sale

At the end of September 2019, there are 118 Condos and Townhomes for sale in Buffalo Grove, compare that to the 95 available at this time last year and you’ll see that inventory has definitely improved.

New Listings

58 Condos and Townhomes were listed for sale in September of 2019, an increase of 9 from last year.

Condos and Townhomes Under Contract

24 Condos and Townhomes went under contract in Buffalo Grove in September, equal to last year.

Closings

30 Condos and Townhomes closed in September 2019, up from 22 in 2018. For the first 9 months, we have seen 272 closings so far this year, compared to 305 in 2018.

#BuffaloGroveRealEstate

 

 

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

Buffalo Grove Real Estate Market Conditions – August 2019

Buffalo Grove Real Estate Market Update

The Buffalo Grove Real Estate market stabilized in August after experiencing a significant shift over the previous 3 months with inventory levels, market time and homes for sale up considerably over last year for both Single Family homes and Townhomes and Condos. Many Buffalo Grove home owners have finally decided to try selling their homes and with interest rates lower than expected, the market now seems to be in favor of the Buyer!

Single Family Homes:

Average Market Time

The average time a single family home remains on the market in Buffalo Grove was 64 days in August 2019, which was up from 44 days in August 2018. 64 days is a relatively short period of time compared with much of the Chicagoland area.

Months Supply

As of September 1, 2019, there is 4.7 months supply of single family homes for sale in Buffalo Grove compared to 4.4 last year. Anything under 5 months is considered a seller’s market, so we are experiencing a market more favorable to buyers for the first time in a while.

Homes For Sale

At the end of August 2019, there are 156 single family homes for sale in Buffalo Grove, compare that to the 149 available at this time last year and you’ll see that inventory has stabilized with more options for buyers to consider.

New Listings

86 single family homes were listed for sale in August of 2019, compared to 92 new listings last year.

Homes Under Contract

36 single family homes went under contract in Buffalo Grove in August 2019 an increase from 31 in August 2018.

Closings

58 Single family homes closed in August 2019, up from 50 in August 2018. 58 closings represents the largest figure recorded in 2019. Through the first 8 months of 2019, we have registered 288 closings in 2019 versus 313 in 2018.

Condos and Townhomes:

Average Market Time

The time Condos and Townhomes remains on the market in Buffalo Grove was 37 days, which is down from 68 days in August 2018. Still a very low figure when compared to the broader Chicago suburban market.

Months Supply

As of September 1, 2019, there are 4.2 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!

Homes For Sale

At the end of August 2019, there are 120 Condos and Townhomes for sale in Buffalo Grove, compare that to the 101 available at this time last year and you’ll see that inventory has definitiely improved.

New Listings

68 Condos and Townhomes were listed for sale in Auguat of 2019, an increase of 15 from last year.

Condos and Townhomes Under Contract

26 Condos and Townhomes went under contract in Buffalo Grove in August, up from 23 last year.

Closings

24 Condos and Townhomes closed in August 2019, down from 29 in 2018. For the first 8 months, we have seen 241 closings so far this year, compared to 283 in 2018.

#BuffaloGroveRealEstate

 

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