Archive for the ‘Buffalo Grove’ Category:

Buffalo Grove Real Estate Market Conditions – October 2020

Buffalo Grove Real Estate 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. Buyer demand for Buffalo Grove real estate continues to impress, now into November! For October, despite a significant decline in new listings and total homes for sale, homes going under contract increased significantly over last year. The overall results are remarkable due to a lack of inventory – Buyers are out in force and well priced, nicely updated homes are selling in days. 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 still be a good Real Estate year, just delayed more to the late Summer and Fall. The next couple of months will sure be interesting to see if homeowners decide to put their homes on the market and meet the strong demand by Buyers. Stay safe everyone!

Single Family Homes:

Average Market Time

The average time a single family home remains on the market in Buffalo Grove was 53 days in October 2020, which was down significantly from 80 days in October 2019, which is still a pretty low number for the Chicagoland area.

Buffalo Grove Real Estate Market Conditions - October 2020 market time

Months Supply

As of November 1, 2020, there is 2.1 months supply of single family homes for sale in Buffalo Grove compared to 4.0 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. Well priced, nicely updated homes are selling fast and often with mulitple offers.

Buffalo Grove Real Estate Market Conditions - October 2020 months supply

Homes For Sale

At the end of October 2020, there are 72 single family homes for sale in Buffalo Grove, compare that to the 137 available at this time last year – a 47% decrease, meaning that inventory has declined significantly. It will be interesting to see if the late Fall will be a busy listing period this year.

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

New Listings

51 single family homes were listed for sale in October of 2020, compared to 66 new listings last year, a 23% decline. These next couple of months will be interesting to see if we can begin to meet the high buyer demand.

Buffalo Grove Real Estate Market Conditions - October 2020 new listings

Homes Under Contract

38 single family homes went under contract in Buffalo Grove in October 2020, up from the 31 homes going under contract in October 2019 . This is pretty impressive given that there are about half the number of available homes to choose from!

Buffalo Grove Real Estate Market Conditions - October 2020 under contract

Closings

44 Single family homes closed in October 2020, a solid increase from 36 in October 2019. For the first ten months of 2020, 342 homes have closed this year versus 358 in 2019. With the significant increase in homes under contract, the 4th quarter is poised to be very good.

Buffalo Grove Real Estate Market Conditions - October 2020 closings

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 64 days in October 2019.

Buffalo Grove Real Estate Market Conditions - October 2020 market time

Months Supply

As of November 1, 2020, there is 3.4 months supply of Condos and Townhomes for sale in Buffalo Grove down from last year’s figure of 4.1.

Buffalo Grove Real Estate Market Conditions - October 2020 months supply

Homes For Sale

At the end of October 2020, there are 104 Condos and Townhomes for sale in Buffalo Grove, compare that to the 115 available at this time last year.

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

New Listings

55 Condos and Townhomes were listed for sale in October of 2020, an increase from 39 last year.

Buffalo Grove Real Estate Market Conditions - October 2020 new listings

Condos and Townhomes Under Contract

32 Condos and Townhomes went under contract in Buffalo Grove in October, which is an increase from 23 from 2019. This demonstrates that there is plenty of buyer demand to satisfy more listings!

Buffalo Grove Real Estate Market Conditions - October 2020 under contract

Closings

30 Condos and Townhomes closed in October 2020, an increase from 24 in 2019. For the first ten months, we have had 307 closings in 2020, an increase from 296 in 2019, not bad for a pandemic!

Buffalo Grove Real Estate Market Conditions - October 2020 closings

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

Buffalo Grove Real Estate Market Conditions – September 2020

Buffalo Grove Real Estate 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. Buyer demand for Buffalo Grove real estate continues to impress. For September, despite a significant decline in new listings and total homes for sale, homes going under contract increased significantly over last year. The overall results are remarkable due to a lack of inventory – Buyers are out in force and well priced, nicely updated homes are selling in days. 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 still be a good Real Estate year, just delayed more to the late Summer and Fall. The next couple of months will sure be interesting to see if homeowners decide to put their homes on the market and meet the strong demand by Buyers. Stay safe everyone!

Single Family Homes:

Average Market Time

The average time a single-family home remains on the market in Buffalo Grove was 76 days in September 2020, which was down slightly from 78 days in September 2019, which is still a pretty low number for the Chicagoland area.

Buffalo Grove Real Estate Market Conditions - September 2020 market time

Months Supply

As of October 1, 2020, there is 2.3 months supply of single-family homes for sale in Buffalo Grove compared to 4.3 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. Well priced, nicely updated homes are selling fast and often with multiple offers.

Buffalo Grove Real Estate Market Conditions - September 2020 months supply

Homes For Sale

At the end of September 2020, there are 80 single family homes for sale in Buffalo Grove, compare that to the 146 available at this time last year – a 45% decrease, meaning that inventory has declined significantly. It will be interesting to see if the Fall will be a busy listing period this year.

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

New Listings

67 single family homes were listed for sale in September of 2020, compared to 91 new listings last year, a 26% decline. These next couple of months will be interesting to see if we can begin to meet the high buyer demand.

Buffalo Grove Real Estate Market Conditions - September 2020 new listings

Homes Under Contract

50 single-family homes went under contract in Buffalo Grove in September 2020, up from the 37 homes going under contract in September 2019 – a 35% increase!. This is pretty impressive given that there is about half the number of available homes to choose from!

Buffalo Grove Real Estate Market Conditions - September 2020 under contract

Closings

35 Single-family homes closed in September 2020, a small increase from 34 in September 2019. For the first nine months of 2020, 296 homes have closed this year versus 322 in 2019. With the significant increase in homes under contract, the 4th quarter is poised to be very good.

Buffalo Grove Real Estate Market Conditions - September 2020 closed sales

Condos and Townhomes:

Average Market Time

The time Condos and Townhomes remains on the market in Buffalo Grove was 67 days which is down from 71 days in September 2019.

Buffalo Grove Real Estate Market Conditions - September 2020 market time

Months Supply

As of October 1, 2020, there is 3.4 months supply of Condos and Townhomes for sale in Buffalo Grove down from last year’s figure of 4.3.

Buffalo Grove Real Estate Market Conditions - September 2020 months supply

Homes For Sale

At the end of September 2020, there are 104 Condos and Townhomes for sale in Buffalo Grove, compare that to the 121 available at this time last year.

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

New Listings

50 Condos and Townhomes were listed for sale in September of 2020, a decrease from 59 last year.

Buffalo Grove Real Estate Market Conditions - September 2020 new listings

Condos and Townhomes Under Contract

28 Condos and Townhomes went under contract in Buffalo Grove in September, which is an increase from 22 from 2019. This demonstrates that there is plenty of buyer demand to satisfy more listings!

Buffalo Grove Real Estate Market Conditions - September 2020 under contract

Closings

45 Condos and Townhomes closed in September 2020, a large increase from 30 in 2019. For the first nine months, we have had 274 closings in 2020, an increase from 272 in 2019.

Buffalo Grove Real Estate Market Conditions - September 2020 closed sales

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

Buffalo Grove Real Estate Market Conditions – August 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. Buyer demand for Buffalo Grove real estate continues to be very resilient. For August, despite a significant decline in new listings and total homes for sale, homes going under contract increased over last year. The overall results are disappointing due to a lack of inventory, but, I believe there is some good news here as there was still very solid activity for the month, despite a time of great uncertainty. 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 still be a good Real Estate year, just delayed more to the late Summer and Fall. The next couple of months will sure be interesting to see if homeowners decide to put their homes on the market and meet the strong demand by Buyers. Stay safe everyone!

Single Family Homes:

Average Market Time

The average time a single-family home remains on the market in Buffalo Grove was 74 days in August 2020, which was up from 64 days in August 2019, which is still a pretty low number for the Chicagoland area.

Buffalo Grove Real Estate Market Conditions - August 2020

Months Supply

As of September 1, 2020, there is 2.7 months supply of single-family homes for sale in Buffalo Grove compared to 4.9 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. Well priced, nicely updated homes are selling fast and often with multiple offers.

Buffalo Grove Real Estate Market Conditions - August 2020

Homes For Sale

At the end of August 2020, there are 88 single family homes for sale in Buffalo Grove, compare that to the 161 available at this time last year meaning that inventory has declined significantly. It will be interesting to see if the Fall will be a busy listing period this year.

Buffalo Grove Real Estate Market Conditions - August 2020

New Listings

55 single family homes were listed for sale in August of 2020, compared to 86 new listings last year. These next couple of months will be interesting to see if we can begin to meet the high buyer demand.

Buffalo Grove Real Estate Market Conditions - August 2020

Homes Under Contract

45 single family homes went under contract in Buffalo Grove in August 2020, up from the 34 homes going under contract in August 2019. This is pretty impressive given that there are half the number of available homes to choose from!

Buffalo Grove Real Estate Market Conditions - August 2020

Closings

39 Single-family homes closed in August 2020, a decrease from 58 in August 2019. For the first eight months of 2020, 260 homes have closed this year versus 288 in 2019.

Buffalo Grove Real Estate Market Conditions - August 2020

Condos and Townhomes:

Average Market Time

The time Condos and Townhomes remains on the market in Buffalo Grove was 81 days which is up from 37 days in August 2019.

Buffalo Grove Real Estate Market Conditions - August 2020

Months Supply

As of September 1, 2020, there is 3.5 months supply of Condos and Townhomes for sale in Buffalo Grove down from last year’s figure of 4.4.

Buffalo Grove Real Estate Market Conditions - August 2020

Homes For Sale

At the end of August 2020, there are 105 Condos and Townhomes for sale in Buffalo Grove, compare that to the 126 available at this time last year.

Buffalo Grove Real Estate Market Conditions - August 2020

New Listings

66 Condos and Townhomes were listed for sale in August of 2020, a slight decrease from 69 last year.

Buffalo Grove Real Estate Market Conditions - August 2020

Condos and Townhomes Under Contract

50 Condos and Townhomes went under contract in Buffalo Grove in August, which is a significant increase from 24 from 2019. This demonstrates that there is plenty of buyer demand to satisfy more listings!

Buffalo Grove Real Estate Market Conditions - August 2020

Closings

44 Condos and Townhomes closed in August 2020, a large increase from25 in 2019. For the first eight months, we have had 227 closings in 2020, a decline from 242 in 2019.

Buffalo Grove Real Estate Market Conditions - August 2020

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

Buffalo Grove Real Estate Market Conditions – July 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. Buyer demand for Buffalo Grove real estate is proving to be very resilient, especially for detached single-family homes. For July, despite a significant decline in new listings and total homes for sale, homes going under contract decreased only slightly over last year. The overall results are disappointing due to a lack of inventory, but, I believe there is some good news here as there was still very solid activity for the month, despite a time of great uncertainty. 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 still be a good Real Estate year, just delayed more to the late Summer and Fall. The next couple of months will sure be interesting to see if homeowners decide to put their homes on the market and meet the strong demand by Buyers. Stay safe everyone!

Single Family Homes:

Average Market Time

The average time a single-family home remains on the market in Buffalo Grove was 70 days in July 2020, which was down from 81 days in July 2019, which is a pretty low number for the Chicagoland area.

Months Supply

As of August 1, 2020, there is 3.0 months supply of single-family homes for sale in Buffalo Grove compared to 5.4 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. Well priced, nicely updated homes are selling fast and often with multiple offers.

Homes For Sale

At the end of July 2020, there are 96 single family homes for sale in Buffalo Grove, compare that to the 175 available at this time last year meaning that inventory has declined significantly. It will be interesting to see if August and September will be busy listing periods this year.

New Listings

68 single family homes were listed for sale in July of 2020, compared to 98 new listings last year. These next couple of months will be interesting to see if we can begin to meet the high buyer demand.

Homes Under Contract

41 single family homes went under contract in Buffalo Grove in July 2020, down from the 49 homes going under contract in July 2019. This is still pretty solid given that there is half the number of available homes to choose from!

Closings

54 Single-family homes closed in July 2020, an increase from 50 in July 2019. For the first seven months of 2020, 221 homes have closed this year versus 230 in 2019.

Condos and Townhomes:

Average Market Time

The time Condos and Townhomes remains on the market in Buffalo Grove was 74 days which is up from 53 days in July 2019.

Months Supply

As of August 1, 2020, there is 4.5 months supply of Condos and Townhomes for sale in Buffalo Grove up slightly from last year’s figure of 4.4.

Homes For Sale

At the end of July 2020, there are 126 Condos and Townhomes for sale in Buffalo Grove, compare that to the 124 available at this time last year.

New Listings

84 Condos and Townhomes were listed for sale in July of 2020, a sizable increase from 53 last year.

Condos and Townhomes Under Contract

47 Condos and Townhomes went under contract in Buffalo Grove in July, which is a significant increase from 29 from 2019. This demonstrates that there is plenty of buyer demand to satisfy more listings!

Closings

30 Condos and Townhomes closed in July 2020, down from 36 in 2019. For the first seven months, we have had 181 closings in 2020, a decline from 217 in 2019.

#BuffaloGroveRealEstate

 

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

Buffalo Grove Real Estate Market Conditions – June 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 June, despite a significant decline in new listings and total homes for sale, homes going under contract increased considerably over last year. I believe this is very good news as there was still very solid activity for the month, despite a time of great uncertainty. 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 if homeowners decide to put their homes on the market and meet the strong demand by Buyers. Stay safe everyone!

Single Family Homes:

Average Market Time

The average time a single-family home remains on the market in Buffalo Grove was 68 days in June 2020, which was down from 83 days in June 2019, which is a pretty low number for the Chicagoland area.

Months Supply

As of July 1, 2020, there is 2.9 months supply of single-family homes for sale in Buffalo Grove compared to 5.9 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. Well priced, nicely updated homes are selling fast and often with multiple offers.

Homes For Sale

At the end of June 2020, there are 97 single family homes for sale in Buffalo Grove, compare that to the 185 available at this time last year and you’ll see that inventory has declined significantly. Based on recent trends, I anticipate that July and even August will be busy listing periods this year.

New Listings

77 single family homes were listed for sale in June of 2020, compared to 104 new listings last year. These next couple of months will be interesting to see if we can begin to meet the high buyer demand.

Homes Under Contract

59 single family homes went under contract in Buffalo Grove in June 2020, eclipsing the 49 homes going under contract in June 2019. This is really impressive given that there is half the number of available homes to choose from! This is the 2nd highest number of homes going under contract in the past 12+ years!

Closings

39 Single-family homes closed in June 2020, a decrease from 43 in June 2019. For the first six months of 2020, 167 homes have closed this year versus 180 in 2019.

Condos and Townhomes:

Average Market Time

The time Condos and Townhomes remains on the market in Buffalo Grove was 90 days which is up from 64 days in June 2019.

Months Supply

As of July 1, 2020, there is 4.5 months supply of Condos and Townhomes for sale in Buffalo Grove up slightly from last year’s figure of 4.4.

Homes For Sale

At the end of June 2020, there are 119 Condos and Townhomes for sale in Buffalo Grove, compare that to the 127 available at this time last year.

New Listings

75 Condos and Townhomes were listed for sale in June of 2020, down slightly from 76 last year.

Condos and Townhomes Under Contract

40 Condos and Townhomes went under contract in Buffalo Grove in June, which is a significant increase from 28 from 2019.

Closings

32 Condos and Townhomes closed in June 2020, down from 37 in 2019. For the first six months, we have had 150 closings in 2020, a decline from 181 in 2019.

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

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

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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

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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!

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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

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