Archive for the ‘Buffalo Grove’ Category:

Buffalo Grove Real Estate Market Conditions – December 2018

Buffalo Grove Real Estate Market Update

The Buffalo Grove real estate market posted generally solid results for 2018. Detached single family homes and Condos / Townhomes continue to demonstrate “Seller’s market” tendencies with relatively low market times and months of supply of inventory, but both measures improved in the back half of the year. A lack of inventory, increased interest rates and a reduced deduction for property taxes definitely impacted sales as detached homes sales were down by 21 and Condos / Townhomes were equal to 2017. Despite all of the news to the contrary, the Buffalo Grove real estate market is solid and poised for another good year in 2019.

Single Family Homes:

Average Market Time

The average time a single family home remained on the market in Buffalo Grove was 105 days in December, which was up from 61 days in December 2017. The 12 month average was 65 days in 2019, down from 72 days in 2017 … relatively low figures for the Chicago suburbs.

Buffalo Grove Real Estate Market Conditions - December 2018 market times

Months Supply

As of January 1, 2019, there are 2.5 months supply of single family homes for sale in Buffalo Grove, up from 1.8 last year. The 12 month average was 3.6 days in 2018 and 2.9 days in 2017. The new listings in the market has helped to balance the market as anything under 5 months is considered a seller’s market.

Buffalo Grove Real Estate Market Conditions - December 2018 months supply

Homes For Sale

At the end of December 2018, there are 86 single family homes for sale in Buffalo Grove, compare that to the 65 available at this time last year. On average for 2018, there were 121 homes for sale, up from 105 in 2017 – we are building up some much needed inventory.

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

New Listings

24 single family homes were listed for sale in December of 2018, compared to 14 new listings last year, our inventory position is improving and Buyers should benefit.

Buffalo Grove Real Estate Market Conditions - December 2018 new listings

Homes Under Contract

22 single family homes went under contract in Buffalo Grove in December 2018 an increase from 13 in December 2017. It’s great to see solid activity during a traditionally slow month!

Buffalo Grove Real Estate Market Conditions - December 2018 under contract

Closings

25 Single family homes closed in December 2018, up from 21 in December 2017. 407 homes sold in 2018 versus 428 in 2017. Eventhough closings were down in 2018, we appear to be headed to a better inventory position as we look towards 2019.

Buffalo Grove Real Estate Market Conditions - December 2018 closed sales

Condos and Townhomes:

Average Market Time

The time Condos and Townhomes remained on the market in Buffalo Grove was 62 days which is down from 63 days in December 2017. For the full year, average market time was 47 days in 2018, down from 56 days in 2017. This figure is considerably lower than many other Chicago area markets.

Buffalo Grove Real Estate Market Conditions - December 2018 market times

Months Supply

As of January 1, 2019, there is a very low 2.4 months supply of Condos and Townhomes for sale in Buffalo Grove up from last year’s figure of 2.0. For the year, average months of supply was 2.6 versus 2.3 in 2017. Buyers still have to move pretty quickly when an attractive listing hits the market!

Buffalo Grove Real Estate Market Conditions - December 2018 months supply

Homes For Sale

At the end of December 2018, there are 74 Condos and Townhomes for sale in Buffalo Grove, compare that to the 62 available at this time last year and you’ll see that inventory is finally improving.

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

New Listings

19 Condos and Townhomes were listed for sale in December of 2018, down slightly from 21 last year.

Buffalo Grove Real Estate Market Conditions - December 2018 new listings

Condos and Townhomes Under Contract

19 Condos and Townhomes went under contract in Buffalo Grove in December, which is up nicely from 10 from 2017.

Buffalo Grove Real Estate Market Conditions - December 2018 under contract

Closings

21 Condos and Townhomes closed in December 2018, down from 30 in 2017. For the ful year, 377 Condos and Townhomes were sold, equal to the amount in 2017. If inventory continues to improve, 2019 should be a very good year.

Buffalo Grove Real Estate Market Conditions - December 2018 closed sales

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The post Buffalo Grove Real Estate Market Conditions – December 2018 appeared first on Getting Real.

Buffalo Grove Real Estate Market Conditions – November 2018

Buffalo Grove Real Estate Market Update

The Buffalo Grove real estate market continued to build much needed inventory in November. Single Family home buyers had been demonstrating great patience and restraint, holding off for well updated homes or great deals. Condos and Townhomes closings increased in November, continuing the solid trend for the year in that segment of the market. With late Fall upon us, the activity will 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 66 days in November, which was down from 72 days in November 2017. This continues to be a relatively low figure.

Buffalo Grove Real Estate Market Conditions - November 2018 market times

Months Supply

As of December 1, 2018, there are 3.4 months supply of single family homes for sale in Buffalo Grove, up from 2.3 last year. The new listings in the market has helped to balance the market as anything under 5 months is considered a seller’s market.

Buffalo Grove Real Estate Market Conditions - November 2018 momths supply

Homes For Sale

At the end of November 2018, there are 113 single family homes for sale in Buffalo Grove, compare that to the 82 available at this time last year, and it is clear that we are building up some much needed inventory.

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

New Listings

37 single family homes were listed for sale in November of 2018, compared to 26 new listings last year, our inventory position is improving and Buyers should benefit.

Buffalo Grove Real Estate Market Conditions - November 2018 new listings

Homes Under Contract

19 single family homes went under contract in Buffalo Grove in November 2018 a decrease from 26 in November 2017.

Buffalo Grove Real Estate Market Conditions - November 2018 under contract

Closings

14 Single family homes closed in November 2018, down from 23 in November 2017. Through eleven months of the year, 382 homes have sold this year versus 407 in 2017. Closings will be down in 2018, but we appear to be headed to a better inventory position as we look towards 2019.

Buffalo Grove Real Estate Market Conditions - November 2018 closed sales

Condos and Townhomes:

Average Market Time

The time Condos and Townhomes remained on the market in Buffalo Grove was 69 days which is up from 60 days in November 2017. This figure is considerably lower than many other Chicago area markets.

Buffalo Grove Real Estate Market Conditions - November 2018 market times

Months Supply

As of December 1, 2018, there is a very low 3.0 months supply of Condos and Townhomes for sale in Buffalo Grove up from last year’s figure of 2.2. Buyers still have to move pretty quickly when an attractive listing hits the market!

Buffalo Grove Real Estate Market Conditions - November 2018 momths supply

Homes For Sale

At the end of November 2018, there are 93 Condos and Townhomes for sale in Buffalo Grove, compare that to the 69 available at this time last year and you’ll see that inventory is finally improving.

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

New Listings

34 Condos and Townhomes were listed for sale in November of 2018, down from 41 last year.

Buffalo Grove Real Estate Market Conditions - November 2018 new listings

Condos and Townhomes Under Contract

21 Condos and Townhomes went under contract in Buffalo Grove in November, which is down from 32 from 2017.

Buffalo Grove Real Estate Market Conditions - November 2018 under contract

Closings

19 Condos and Townhomes closed in November 2018, up from 14 in 2017. Through 11 months, we have seen 356 sales this year versus 347 in 2017.

Buffalo Grove Real Estate Market Conditions - November 2018 closed sales

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The post Buffalo Grove Real Estate Market Conditions – November 2018 appeared first on Getting Real.

Buffalo Grove Real Estate Market Conditions – October 2018

Buffalo Grove Real Estate Market Update

As Fall has settled in, the Buffalo Grove real estate market had a solid month in October, continuing to build much needed inventory. Single Family home buyers had been demonstrating great patience and restraint, holding off for well updated homes or great deals. Condos and Townhomes closings were down again in October, but average market time of 32 days is still very low! With Fall upon us, the activity will 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 82 days in October, which was up from 74 days in October 2017. This continues to be a relatively low figure.

Buffalo Grove Real Estate Market Conditions - October 2018 market times

Months Supply

As of November 1, 2018, there are 3.8 months supply of single family homes for sale in Buffalo Grove, up from 2.9 last year. The new listings in the market has helped to balance the market as anything under 5 months is considered a seller’s market.

Buffalo Grove Real Estate Market Conditions - October 2018 months supply

Homes For Sale

At the end of October 2018, there are 131 single family homes for sale in Buffalo Grove, compare that to the 101 available at this time last year, and it is clear that we are starting to build up some much needed inventory.

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

New Listings

57 single family homes were listed for sale in October of 2018, compared to 38 new listings last year, our inventory position is improving and Buyers should benefit.

Buffalo Grove Real Estate Market Conditions - October 2018 new listings

Homes Under Contract

25 single family homes went under contract in Buffalo Grove in October 2018 an increase from 21 in October 2017.

Buffalo Grove Real Estate Market Conditions - October 2018 under contract

Closings

30 Single family homes closed in October 2018, up from 28 in October 2017. Through the 1st ten months of the year, 367 homes have sold this year versus 384 in 2017. There seems to be some good momentum with more available inventory.

Buffalo Grove Real Estate Market Conditions - October 2018 closings

Condos and Townhomes:

Average Market Time

The time Condos and Townhomes remained on the market in Buffalo Grove was 32 days which is up slightly from 27 days in October 2017. Condos and Townhomes are seemingly selling as quickly as they are listed.

Buffalo Grove Real Estate Market Conditions - October 2018 market times

Months Supply

As of November 1, 2018, there is a very low 3.2 months supply of Condos and Townhomes for sale in Buffalo Grove up slightly from last year’s figure of 2.6. Buyers have to move quickly when an attractive listing hits the market!

Buffalo Grove Real Estate Market Conditions - October 2018 months supply

Homes For Sale

At the end of October 2018, there are 102 Condos and Townhomes for sale in Buffalo Grove, compare that to the 81 available at this time last year and you’ll see that inventory remains tight, but improving.

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

New Listings

63 Condos and Townhomes were listed for sale in October of 2018, up slightly from 40 last year, Buyers are finally going to have some more choices!

Buffalo Grove Real Estate Market Conditions - October 2018 new listings

Condos and Townhomes Under Contract

24 Condos and Townhomes went under contract in Buffalo Grove in October, which is up slightly from 23 from 2017.

Buffalo Grove Real Estate Market Conditions - October 2018 under contract

Closings

30 Condos and Townhomes closed in October 2018, down from 38 in 2017. Through 10 months, we have seen 335 sales this year versus 333 in 2017.

Buffalo Grove Real Estate Market Conditions - October 2018 closings

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The post Buffalo Grove Real Estate Market Conditions – October 2018 appeared first on Getting Real.

Buffalo Grove Real Estate Market Conditions – September 2018

Buffalo Grove Real Estate Market Update

The Buffalo Grove real estate market had another solid month in September, continuing to build much needed inventory. Single Family home buyers had been demonstrating great patience and restraint, holding off for well updated homes or great deals. Condos and Townhomes closings slowed down in September, but average market time of 31 days is still very low! With Fall upon us, the activity will 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 72 days in September 2018, which was down from 125 days in September 2017. There are not many communities in the Chicago area with such a low figure.

Buffalo Grove Real Estate Market Conditions - September 2018 market time

Months Supply

As of October 1, 2018, there are 4.1 months supply of single family homes for sale in Buffalo Grove, up from 3.3 last year. The new listings in the market has really balanced the market as anything under 5 months is considered a seller’s market.

Buffalo Grove Real Estate Market Conditions - September 2018 months supply

Homes For Sale

At the end of September 2018, there are 138 single family homes for sale in Buffalo Grove, compare that to the 119 available at this time last year, we are starting to build up some much needed inventory.

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

New Listings

67 single family homes were listed for sale in September of 2018, compared to 57 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 - September 2018 new listings

Homes Under Contract

30 single family homes went under contract in Buffalo Grove in September 2018 an increase from 25 in September 2017.

Buffalo Grove Real Estate Market Conditions - September 2018 under contract

Closings

23 Single family homes closed in September 2018, down from 34 in September 2017. Through the 1st nine months of the year, 336 homes have sold this year versus 356 in 2017. There seems to be some good momentum with more available inventory.

Buffalo Grove Real Estate Market Conditions - September 2018 closed sales

Condos and Townhomes:

Average Market Time

The time Condos and Townhomes remained on the market in Buffalo Grove was 31 days which is down from 57 days in July 2017. Condos and Townhomes are seemingly selling as quickly as they are listed.

Buffalo Grove Real Estate Market Conditions - September 2018 market time

Months Supply

As of October 1, 2018, there is a very low 2.9 months supply of Condos and Townhomes for sale in Buffalo Grove up slightly from last year’s figure of 2.6. Buyers have to move quickly when an attractive listing hits the market!

Buffalo Grove Real Estate Market Conditions - September 2018 months supply

Homes For Sale

At the end of September 2018, there are 91 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 remains tight, but improving.

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

New Listings

49 Condos and Townhomes were listed for sale in September of 2018, up slightly from 48 last year.

Buffalo Grove Real Estate Market Conditions - September 2018 new listings

Condos and Townhomes Under Contract

27 Condos and Townhomes went under contract in Buffalo Grove in September, which is a decrease from 32 from 2017.

Buffalo Grove Real Estate Market Conditions - September 2018 under contract

Closings

21 Condos and Townhomes closed in September 2018, down from 35 in 2017. Through 8 months, we have seen 304 sales this year versus 295 in 2017.

Buffalo Grove Real Estate Market Conditions - September 2018 closed sales

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The post Buffalo Grove Real Estate Market Conditions – September 2018 appeared first on Getting Real.

Buffalo Grove Real Estate Market Conditions – August 2018

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

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The post Buffalo Grove Real Estate Market Conditions – August 2018 appeared first on Getting Real.

Buffalo Grove Real Estate Market Conditions – August 2018

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

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Buffalo Grove Real Estate Market Conditions – July 2018 – Another Solid Month

Buffalo Grove Real Estate Market Update

The Buffalo Grove real estate market had another solid month in July after 3 very good months. Single Family home buyers had been demonstrating great patience and restraint, holding off for well updated homes or great deals. In July, another 99 new single family homes were listed, following 119 and 114 in May and June respectively. Condos and Townhomes continue to seemingly sell as soon as they hit the market, with an extremely low average market time of 38 days! Based on my experience with our listings, the pool of buyers is very strong and there are lots of showings. We are at the end of the Summer market, and I anticipate the next couple of months should be very interesting … stay tuned!

Single Family Homes:

Average Market Time

The average time a single family home remained on the market in Buffalo Grove was 41 days in July 2018, which was down from 56 days in July 2017. There are not many communities in the Chicago area with such a low figure.

Months Supply

As of August 1, 2018, there are 4.6 months supply of single family homes for sale in Buffalo Grove, up from 4.0 last year. The new listings in the market has really balanced the market as anything under 5 months is considered a seller’s market.

Homes For Sale

At the end of July 2018, there are 157 single family homes for sale in Buffalo Grove, compare that to the 139 available at this time last year, we are starting to build up some much needed inventory.

New Listings

99 single family homes were listed for sale in July of 2018, compared to 75 new listings last year, our inventory position is improving and Buyers got off the fence in April, May, June and July.

Homes Under Contract

37 single family homes went under contract in Buffalo Grove in July 2018 an increase from 27 in July 2017.

Closings

45 Single family homes closed in July 2018, down from 53 in July 2017. Through the 1st seven months of the year, 263 homes have sold this year versus 276 in 2017. There seems to be some good momentum with more available inventory.

Condos and Townhomes:

Average Market Time

The time Condos and Townhomes remained on the market in Buffalo Grove was 38 days which is down from 53 days in July 2017. This continues to be an extremely low figure and reflects the competiveness we are facing with Condos and Townhomes.

Months Supply

As of August 1, 2018, there is a very low 2.6 months supply of Condos and Townhomes for sale in Buffalo Grove down slightly from last year’s figure of 2.7. Buyers have to move quickly when an attractive listing hits the market!

Homes For Sale

At the end of July 2018, there are 87 Condos and Townhomes for sale in Buffalo Grove, compare that to the 83 available at this time last year and you’ll see that inventory remains tight.

New Listings

56 Condos and Townhomes were listed for sale in July of 2018, the same figure as last year. This is after 73 new listings in June which was the most new Condo and Town home listings we have seen for a month in 8 years.

Condos and Townhomes Under Contract

38 Condos and Townhomes went under contract in Buffalo Grove in July, which is a significant increase from 26 from 2017.

Closings

49 Condos and Townhomes closed in July 2018, up from 41 in 2017. Through 7 months, we have seen 254 sales this year versus 234 in 2017.

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The post Buffalo Grove Real Estate Market Conditions – July 2018 – Another Solid Month appeared first on Getting Real.

Buffalo Grove Real Estate Market Conditions – June 2018 – More Good News

Buffalo Grove Real Estate Market Update

The Buffalo Grove real estate market had another very good month in June after an outstanding April and solid May. Single Family home buyers had been demonstrating great patience and restraint, holding off for well updated homes or great deals. In June, 114 new single family homes were listed, following 119 in May, which is the highest number in over 10 years. Condos and Townhomes continue to seemingly sell as soon as they hit the market, with an extremely low average market time of 42 days! Based on my experience with our listings, the pool of buyers is very strong and there are lots of showings. Summer is here, and I anticipate the next couple of months should be very interesting … stay tuned!

Single Family Homes:

Average Market Time

The average time a single family home remained on the market in Buffalo Grove was 51 days in June 2018, which was up from 34 days in June 2017.

Months Supply

As of July 1, 2018, there are 5.0 months supply of single family homes for sale in Buffalo Grove, up from 3.7 last year. The new listings in the market has really balanced the market as anything under 5 months is considered a seller’s market.

Homes For Sale

At the end of June 2018, there are 168 single family homes for sale in Buffalo Grove, compare that to the 136 available at this time last year, we are starting to build up some much needed inventory.

New Listings

114 single family homes were listed for sale in June of 2018, compared to 100 new listings last year, our inventory position is improving and Buyers got off the fence in April, May and June.

Homes Under Contract

41 single family homes went under contract in Buffalo Grove in June 2018 a decrease from 53 in June 2017.

Closings

67 Single family homes closed in June 2018, up from 58 in June 2017. Through the 1st half of the year, 215 homes have sold this year versus 223 in 2017. There seems to be some good momentum with more available inventory.

Condos and Townhomes:

Average Market Time

The time Condos and Townhomes remained on the market in Buffalo Grove was 42 days which is up 50 days in June 2017. This continues to be an extremely low figure and reflects the competiveness we are facing with Condos and Townhomes.

Months Supply

As of July 1, 2018, there is a very low 2.6 months supply of Condos and Townhomes for sale in Buffalo Grove up from last year’s figure of 2.3. Buyers have to move quickly when an attractive listing hits the market!

Homes For Sale

At the end of June 2018, there are 87 Condos and Townhomes for sale in Buffalo Grove, compare that to the 75 available at this time last year and you’ll see that inventory remains tight.

New Listings

73 Condos and Townhomes were listed for sale in June of 2018, up significantly from 44 last year, which will help with our inventory shortage. 73 is the most new Condo and Town home listings we have seen for a month in 8 years.

Condos and Townhomes Under Contract

35 Condos and Townhomes went under contract in Buffalo Grove in June, which is a solid increase from 30 from 2017.

Closings

51 Condos and Townhomes closed in June 2018, down slightly from 52 in 2017. Through 6 months, we have seen 205 sales this year versus 193 in 2017.

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Buffalo Grove Real Estate Market Conditions – May 2018 – Another Solid Month

Buffalo Grove Real Estate Market Update

The Buffalo Grove real estate market had another very good month in May after an outstanding April. Single Family home buyers had been demonstrating great patience and restraint, holding off for well updated homes or great deals. In May, 119 new single family homes were listed, the highest number in over 10 years. Condos and Townhomes continue to seemingly sell as soon as they hit the market, with a staggeringly low average market time of 28 days! Based on my experience with our listings, the pool of buyers is very strong and there are lots of showings. Summer is here, and I anticipate the next couple of months should be very interesting … stay tuned!

Single Family Homes:

Average Market Time

The average time a single family home remained on the market in Buffalo Grove was 43 days in May 2018, which was down significantly from 73 days in May 2017.

Months Supply

As of June 1, 2018, there are 3.8 months supply of single family homes for sale in Buffalo Grove, up sightly from 3.4 last year. Anything under 5 months is considered a seller’s market.

Homes For Sale

At the end of May 2018, there are 134 single family homes for sale in Buffalo Grove, compare that to the 121 available at this time last year, we are starting to build up some much needed inventory.

New Listings

A whopping 119 single family homes were listed for sale in May of 2018, compared to 87 new listings last year, our inventory position is improving and Buyers got off the fence in April and May. The 119 new listings was the largest figure we have seen in over 10 years!

Homes Under Contract

51 single family homes went under contract in Buffalo Grove in May 2018 a slight increase from 49 in May 2017.

Closings

51 Single family homes closed in May 2018, up from 40 in May 2017. Through the 1st five months of the year, 148 homes have sold this year versus 165 in 2017. There seems to be some good momentum and June and July closings should be solid.

Condos and Townhomes:

Average Market Time

The time Condos and Townhomes remained on the market in Buffalo Grove was a staggering 28 days which is down from 35 days in May 2017. This is an extremely low figure and reflects the competiveness we are facing with Condos and Townhomes.

Months Supply

As of June 1, 2018, there is a ridiculously low 2.0 months supply of Condos and Townhomes for sale in Buffalo Grove down from last year’s figure of 2.4. Buyers have to move quickly when an attractive listing hits the market!

Homes For Sale

At the end of May 2018, there are 66 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 remains very tight. There simply aren’t enough homes to supply the current buyer demand, which provides for a very competitive environment.

New Listings

72 Condos and Townhomes were listed for sale in May of 2018, up nicely form 55 last year, which will help with our inventory shortage. 72 is the most new Condo and Town home listings we have seen for a month in 8 years.

Condos and Townhomes Under Contract

53 Condos and Townhomes went under contract in Buffalo Grove in May, which is a solid increase from 41 from 2017.

Closings

43 Condos and Townhomes closed in May 2018, up from 40 in 2017. Through 5 months, we have seen 154 sales this year versus 141 in 2017.

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Buffalo Grove Real Estate Market Conditions – April 2018 – Good Momentum As Spring Is Here

Buffalo Grove Real Estate Market Update

The Buffalo Grove real estate market showed a real sign of life in April after a very disappointing March. Single Family home buyers had been demonstrating great patience and restraint, holding off for well updated homes or great deals. In April, 71 single family homes went under contract, the highest number since 2008. Condos and Townhomes continue to seemingly sell as soon as they hit the market. Based on my experience with our listings, the pool of buyers is very strong and there are lots of showings. Spring is here, and I anticipate the next couple of months should be very interesting … stay tuned!

Single Family Homes:

Average Market Time

The average time a single family home remained on the market in Buffalo Grove was 80 days in April 2018, which was up from 73 days in April 2017, but still a very solid figure.

Months Supply

As of May 1, 2018, there are 2.9 months supply of single family homes for sale in Buffalo Grove, down sightly from 3.0 last year. Anything under 5 months is considered a seller’s market.

Homes For Sale

At the end of April 2018, there are 103 single family homes for sale in Buffalo Grove, compare that to the 108 available at this time last year.

New Listings

90 single family homes were listed for sale in April of 2018, compared to 77 new listings last year, our inventory position is improving and Buyers got off the fence in April, putting 71 homes under contract.

Homes Under Contract

71 single family homes went under contract in Buffalo Grove in April 2018 an enormous increase from 47 in April 2017. As I mentioned above, 71 was the highest figure in over 10 years, topping the next recent high water mark of 55 from March 2016 by a large margin.

Closings

33 Single family homes closed in April 2018, down from 40 in April 2017. Through the 1st four months of the year, 95 homes have sold this year versus 125 in 2017. There seems to be some good momentum and May and June closings should be solid.

Condos and Townhomes:

Average Market Time

The time Condos and Townhomes remained on the market in Buffalo Grove was 41 days which is down from 75 days in April 2017. This is a low figure and reflects the competiveness we are facing with Condos and Townhomes.

Months Supply

As of May 1, 2018, there is a ridiculously low 2.1 months supply of Condos and Townhomes for sale in Buffalo Grove down from last year’s figure of 2.2. Buyers have to move quickly when an attractive listing hits the market!

Homes For Sale

At the end of April 2018, there are 68 Condos and Townhomes for sale in Buffalo Grove, compare that to the 73 available at this time last year and you’ll see that inventory remains very tight. There simply aren’t enough homes to supply the current buyer demand, which provides for a very competitive environment.

New Listings

70 Condos and Townhomes were listed for sale in April of 2018, up nicely form 658 last year, which will help with our inventory shortage.

Condos and Townhomes Under Contract

56 Condos and Townhomes went under contract in Buffalo Grove in April, which is an increase from 46 from 2017.

Closings

37 Condos and Townhomes closed in April 2018, up from 35 in 2017. Through 4 months, we have seen 108 sales this year versus 101 in 2017. It appears that the main thing holding back sales is a simple lack of inventory.

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