Archive for the ‘Market Insights’ Category:

Aurora Real Estate Market Conditions – February 2019

Aurora Real Estate Market Update

The Aurora Real Estate picks up in February. The number of closed single family homes increased as well as the sales price. Market times for both single family homes and condos/townhomes increased significantly while the number of new listings increased as well. Overall there is an upward trajectory as we head into the spring season.

Aurora Home Sales

101 single family homes and 32 condo/town homes closed in February. Compare that to the 76 single family home closings at the same time last year and you’ll find a massive increase of 33% in the number of single family homes sold. Condo and townhome sales in February decreased from last year with 32 closings this year, or about a slight drop of 18%, compared to the 39 that sold at the same time last year.

Aurora Sales Price

During February 2019, there was an increase in median sales price for single family homes of 6% with a median sales price of $196,500 this year compared to $184,950 last year. Condo/townhomes saw their median sales price increase to $183,450 this year compared to $172,250 this time last year, or about a 7% increase.

Aurora Market Times

Market times for single family homes and condos/townhomes in Aurora increased this year. Single family homes were on the market for 101 days at the end of February 2019, compared to 32 days on the market in February 2018 or a 147% increase, that’s right a 147% increase. Condo/townhome market times increased this February with 69 days on the market, compared to the 39 days we saw at this time last year or about a 77% jump.

Aurora New Listings

During February 2019, 150 single family homes were listed for sale in Aurora, compared to the 142 new listings last year, an increase of 6%. New condo/town home listings have had an increase of 6% with 77 new listings this February compared to the 73 last year at this time.

Aurora Months Supply

Aurora single family home inventory decreased by 10% this February, falling to 1.8 months supply of homes for sale. The months supply of Aurora single family homes for sale at the same time last year was 2.0 months. The months supply of condos/townhomes in Aurora is jumped to 1.6 months supply for sale, up 45% from last February when there were 1.1 months of supply. Anything under a 5 months supply is considered favorable conditions for sellers.

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Buffalo Grove Real Estate Market Conditions – February 2019

Buffalo Grove Real Estate Market Update

The big news for Buffalo Grove real estate through two months of 2019 is that inventory levels have increased providing buyers more options! Now, if the weather will will just improve, I expect sales will respond accordingly … stay tuned!

Single Family Homes:

Average Market Time

The average time a single family home remains on the market in Buffalo Grove was 107 days in Febuary 2019, which was down significantly from 141 days in February 2018.

Months Supply

As of March 1, 2019, there is 2.7 months supply of single family homes for sale in Buffalo Grove compared to 12.2 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 2019, there are 94 single family homes for sale in Buffalo Grove, compare that to the 72 available at this time last year and you’ll see that inventory has improved.

New Listings

56 single family homes were listed for sale in February of 2019, compared to 50 new listings last year. We should see a significant influx of new homes listed over the next couple of months.

Homes Under Contract

37 single family homes went under contract in Buffalo Grove in February 2019 an increase from 32 in February 2018.

Closings

14 Single family homes closed in February 2019, down from 19 in February 2018. Through two months, we have registered 33 closings in 2019 versus 37 in 2018.

Condos and Townhomes:

Average Market Time

The time Condos and Townhomes remains on the market in Buffalo Grove was 76 days which is up slightly from 72 days in February 2018. This is a relatively low figure for the greater Chicagoland area.

Months Supply

As of March 1, 2019, there are 2.8 months supply of Condos and Townhomes for sale in Buffalo Grove up from last year’s figure of 1.8. Buyers still have to move quickly when an attractive listing hits the market!

Homes For Sale

At the end of February 2019, there are 83 Condos and Townhomes for sale in Buffalo Grove, compare that to the 56 available at this time last year and you’ll see that inventory has improved nicely.

New Listings

51 Condos and Townhomes were listed for sale in February of 2019, an increase of 12 from last year.

Condos and Townhomes Under Contract

33 Condos and Townhomes went under contract in Buffalo Grove in February, which is a slight decrease from 34 from 2018.

Closings

15 Condos and Townhomes closed in February 2019, down from 27 in 2018. For January and February, we have seen 32 closings so far this year, compared to 45 through two months in 2018.

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Elmhurst Real Estate Market Conditions – February 2019

Elmhurst Real Estate Market Update

The Elmhurst Real Estate Market had another solid month in February while starting to build up some much needed inventory. Single family home inventory increased more than 35% while condo and townhome inventory increased by more than 87%.

Elmhurst Market Times

Single family home market times increased in February. Homes were on the market for an average of 138 days compared to 127 days last year at the same time, a 8.7% increase. The average time a condo/townhome stayed on the market was 45 days compared to last year when it was 53 days, a decrease of 15.1%.Elmhurst Real Estate Market Conditions - February 2019 market times

Elmhurst Months Supply

Single family home inventories in Elmhurst had a 4.6 month supply at the end of February, a 35.3% increase compared to last year at this time when the months supply was 3.4 months. The supply of condos and townhomes increased tremendously, 87.1% in February with 5.8 months supply this year compared to last year when the months supply was only 3.1.Elmhurst Real Estate Market Conditions - February 2019 months supply

Elmhurst Homes For Sale

At the end of February there were 220 single family homes for sale in Elmhurst, an increase of 27.9% from last February when there were 172 homes for sale. The number of condos and townhomes for sale increased more than 131% in February with 51 for sale this year compared to last year when there were 22 for sale.Elmhurst Real Estate Market Conditions - February 2019 homes for sale

Elmhurst New Listings

February single family homes new listings decreased with 91 new listings compared to 94 last year at the same time, a slight 3.2% decrease. Condo and townhome new listings increased more than 88% with 17 new listings this year compared to the same last year when there were 9 new listings.Elmhurst Real Estate Market Conditions - February 2019 new listings

Elmhurst Real Estate Closings

The number of single family home closed sales decreased with 24 closings this February compared to 35 last year, a 31.4% decrease. Condo and townhome closings remained the same as last year with 5 closings.Elmhurst Real Estate Market Conditions - February 2019 closed sales

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Addison Real Estate Market Conditions – February 2019

Addison Real Estate Market Update

The Addison Real Estate Market continues to see strong market conditions despite the extremely low inventory. Single family home sales decreased more than 53% in February. The extremely low inventory is still making it really difficult for buyers to find a home, benefiting home sellers.

Addison Home Sales

Single family home sales in Addison decreased more than 53% in February. 7 single family homes closed this year compared to last year at the same time when there were 15 closings. Condo and townhome sales decreased almost 43% in February with 4 closing this year compared to 7 closings last year the same time.Addison Real Estate Market Conditions - February 2019 closed sales

Addison Market Times

Addison market times saw a huge decrease during February. Single family homes were on the market for an average of 42 days, compared to 203 days in February 2018, a 79.3% decrease. Condo/townhome market times had a decrease of 68.4% this February with the average market time of 30 days compared to 95 days last year at the same time.Addison Real Estate Market Conditions - February 2019 market time

Addison New Listings

During February 2019, 35 single family homes were listed for sale in Addison, a decrease of 14.6% compared to the 41 new listings last year. New condo/town home listings had 17 new listings this February the same amount as last year at the same time.Addison Real Estate Market Conditions - February 2019 new listings

Months Supply

Addison single family home inventory is still super low. February ended with 2.9 months of supply, a 9.4% decrease compared to last year at the same time when the months supply was 3.2. The months supply of condos/townhomes had a 3.7% increase from last February with 2.8 months supply for sale this year compared to 2.7 months last year. Anything under a 5 month supply is considered favorable conditions for sellers.Addison Real Estate Market Conditions - February 2019 months supply

Addison Homes For Sale

At the end of February there were 69 single family homes for sale in Addison, an 8% decrease from last year when there were 75 homes for sale. The number of condos and townhomes for sale decreased with 26 for sale this year, a 3.7% decrease from last year when there were 27 for sale.Addison Real Estate Market Conditions - February 2019 homes for sale

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Addison Real Estate Market Conditions – January 2019

Addison Real Estate Market Update

The Addison Real Estate Market continues to see good market conditions despite the extremely low inventory. Single family home sales decreased more than 14% in January. Although the home inventory is increasing, the extremely low inventory is still making it really difficult for buyers to find a home, benefiting home sellers.

Addison Home Sales

Single family home sales in Addison decreased 14.3% in January. 12 single family homes closed this year compared to last year at the same time when there were 14 closings. Condo and townhome sales increased 25% in January with 5 closing this year compared to 4 closings last year the same time.Addison Real Estate Market Conditions - January 2019

Addison Market Times

Market times for single family homes had an increase during January. Single family homes were on the market for an average of 94 days, compared to 68 days in January 2018, a 38.2% increase. Condo/townhome market times had a decrease of 20.9% this January with the average market time of 34 days compared to 43 days last year at the same time.Addison Real Estate Market Conditions - January 2019

Addison New Listings

During January 2019, 34 single family homes were listed for sale in Addison, an increase of 36% compared to the 25 new listings last year. New condo/town home listings had 9 new listings this January compared to last year at the same time when there were 12 new listings, a 25% decrease.Addison Real Estate Market Conditions - January 2019

Months Supply

Addison single family home inventory is still super low. January ended with 2.9 months of supply, the exact same amount as last year at the same time. The months supply of condos/townhomes had a 24.1% decrease from last January with only 2.2 months supply for sale this year compared to 2.9 months last year. Anything under a 5 month supply is considered favorable conditions for sellers.Addison Real Estate Market Conditions - January 2019

Addison Homes For Sale

At the end of January there were 70 single family homes for sale in Addison, a 6.1% increase from last year when there were 66 homes for sale. The number of condos and townhomes for sale decreased with 21 for sale this year, a 27.6% decrease from last year when there were 29 for sale.Addison Real Estate Market Conditions - January 2019

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Elmhurst Real Estate Market Conditions – January 2019

Elmhurst Real Estate Market Update

The Elmhurst Real Estate Market had another solid month in January while starting to build up some much needed inventory. Single family home inventory increased more than 53% while condo and townhome inventory increased by 100%.

Elmhurst Market Times

Single family home market times increased in January. Homes were on the market for an average of 145 days compared to 136 days last year at the same time, a 6.6% increase. The average time a condo/townhome stayed on the market was 103 days compared to last year when it was 38 days, an increase of 171.1%.Elmhurst Real Estate Market Conditions - January 2019 market time

Elmhurst Months Supply

Single family home inventories in Elmhurst had a 4.6 month supply at the end of January, a 53.3% increase compared to last year at this time when the months supply was 3 months. The supply of condos and townhomes increased tremendously, 100% in January with 5 months supply this year compared to last year when the months supply was only 2.5.Elmhurst Real Estate Market Conditions - January 2019 months supply

Elmhurst Homes For Sale

At the end of January there were 216 single family homes for sale in Elmhurst, an increase of 38.5% from last January when there were 156 homes for sale. The number of condos and townhomes for sale increased 115% in January with 43 for sale this year compared to last year when there were 20 for sale.Elmhurst Real Estate Market Conditions - January 2019 homes for sale

Elmhurst New Listings

January single family homes new listings increased with 89 new listings compared to 83 last year at the same time, a 7.2% increase. Condo and townhome new listings remained the same as last year with 9 new listings.Elmhurst Real Estate Market Conditions - January 2019 new listings

Elmhurst Real Estate Closings

The number of single family home closed sales decreased with 22 closings this January compared to 31 last year, a 29% decrease. Condo and townhome closings had a 100% increase in closed sales with 6 closings this year compared to 3 last January.Elmhurst Real Estate Market Conditions - January 2019 closed sales

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Aurora Real Estate Market Conditions – January 2019

Aurora Real Estate Market Update

The Aurora Real Estate slows in January. The number of closed single family homes decreased as well as the number of new listings. Market times for both single family homes and condos/townhomes increased as well as months supply. Positive signs were seen from the number of condo/town home closed sales increased as well as the sales price for single family homes.

Aurora Home Sales

72 single family homes and 43 condo/town homes closed in January. Compare that to the 80 single family home closings at the same time last year and you’ll find an decrease of 10% in the number of single family homes sold. Condo and townhome sales in January increased from last year with 43 closings this year, or about a slight jump of 13%, compared to the 38 that sold at the same time last year.

Aurora Real Estate Market Conditions - January 2019

Aurora Sales Price

During January 2019, there was an increase in median sales price for single family homes of 9% with a median sales price of $189,850 this year compared to $173,850 last year. Condo/townhomes saw their median sales price decrease to $160,000 this year compared to $165,000 this time last year, or about a 3% decrease.

Aurora Real Estate Market Conditions - January 2019 sales price

Aurora Market Times

Market times for single family homes and condos/townhomes in Aurora increased this year. Single family homes were on the market for 71 days at the end of January 2019, compared to 65 days on the market in January 2018 or a 9% increase. Condo/townhome market times increased this January with 55 days on the market, compared to the 39 days we saw at this time last year or about a 41% jump.

Aurora Real Estate Market Conditions - January 2019 market times

Aurora New Listings

During January 2019, 137 single family homes were listed for sale in Aurora, compared to the 156 new listings last year, a decrease of 12%. New condo/town home listings have had a increase of 17% with 63 new listings this January compared to the 54 last year at this time.

Aurora Real Estate Market Conditions - January 2019 new listings

Aurora Months Supply

Aurora single family home inventory increased by 5% this January, jumping to 2.0 months supply of homes for sale. The months supply of Aurora single family homes for sale at the same time last year was 1.9 months. The months supply of condos/townhomes in Aurora is jumped to 1.7 months supply for sale, up 55% from last January when there were 1.1 months of supply. Anything under a 5 months supply is considered favorable conditions for sellers.

Aurora Real Estate Market Conditions - January 2019 months supply

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Buffalo Grove Real Estate Market Conditions – January 2019

Buffalo Grove Real Estate Market Update

Buffalo Grove real estate sales got off to a very similar start in January 2019 as in 2018. Inventory levels have improved, so it will be interesting to see if inventory keeps up with 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 108 days in January 2019, which was up from 85 days in January 2018.

Buffalo Grove Real Estate Market Conditions - January 2019 market time

Months Supply

As of February 1, 2019, there is 2.8 months supply of single family homes for sale in Buffalo Grove compared to 1.9 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 2019 months supply

Homes For Sale

At the end of January 2019, there are 95 single family homes for sale in Buffalo Grove, compare that to the 65 available at this time last year and you’ll see that inventory has improved.

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

New Listings

49 single family homes were listed for sale in January of 2019, compared to 48 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 2019 new listings

Homes Under Contract

22 single family homes went under contract in Buffalo Grove in January 2019 a slight decrease from 25 in January 2018.

Buffalo Grove Real Estate Market Conditions - January 2019 under contract

Closings

18 Single family homes closed in January 2019, down nominally from 19 in January 2018.

Buffalo Grove Real Estate Market Conditions - January 2019 closed sales

Condos and Townhomes:

Average Market Time

The time Condos and Townhomes remains on the market in Buffalo Grove was 85 days which is up from 62 days in January 2018.

Buffalo Grove Real Estate Market Conditions - January 2019 market time

Months Supply

As of February 1, 2019, there are 2.6 months supply of Condos and Townhomes for sale in Buffalo Grove up from last year’s figure of 1.8. Buyers still have to move quickly when an attractive listing hits the market!

Buffalo Grove Real Estate Market Conditions - January 2019 months supply

Homes For Sale

At the end of January 2019, there are 78 Condos and Townhomes for sale in Buffalo Grove, compare that to the 57 available at this time last year and you’ll see that inventory has improved..

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

New Listings

38 Condos and Townhomes were listed for sale in January of 2018, the same figure as last year.

Buffalo Grove Real Estate Market Conditions - January 2019 new listings

Condos and Townhomes Under Contract

20 Condos and Townhomes went under contract in Buffalo Grove in January, which is a decrease from 30 from 2018.

Buffalo Grove Real Estate Market Conditions - January 2019 under contract

Closings

16 Condos and Townhomes closed in January 2019, down from 18 in 2018.

Buffalo Grove Real Estate Market Conditions - January 2019 closed sales

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Aurora Real Estate Market Conditions – December 2018

Aurora Real Estate Market Update

The Aurora Real Estate slowly raises in December. There was an increase in both sales price and new listings for single family and condo/townhomes. The number of closed properties have decreased this December compared to last year but market times for condo/townhomes saw a decrease. Overall there are positive signs at this time of year that will hopefully carry into the new year.

Aurora Home Sales

92 single family homes and 48 condo/town homes closed in December. Compare that to the 108 single family home closings at the same time last year and you’ll find an decrease of about 15% in the number of single family homes sold. Condo and townhome sales in December increased from last year with 48 closings this year, or about a slight jump of 2%, compared to the 47 that sold at the same time last year.

Aurora Real Estate Market Conditions - December 2018 closed sales

Aurora Sales Price

During December 2018, there was an increase in median sales price for single family homes of almost 10% with a median sales price of $196,500 this year compared to $179,000 last year. Condo/townhomes saw their median sales price also increase to $176,500 this year compared to $158,000 this time last year, or about a 12% decrease.

Aurora Real Estate Market Conditions - December 2018 sales price

Aurora Market Times

Market times for single family homes increased where condos/townhomes in Aurora decreased this year. Single family homes were on the market for 44 days at the end of December 2018, compared to 34 days on the market in December 2017 or a 29% increase. Condo/townhome market times decreased this December with 23 days on the market, compared to the 28 days we saw at this time last year or about a 18% drop.

Aurora Real Estate Market Conditions - December 2018 market times

Aurora New Listings

During December 2018, 95 single family homes were listed for sale in Aurora, compared to the 85 new listings last year, an increase of 12%. New condo/town home listings have had a massive increase of 56% with 50 new listings this December compared to the 32 last year at this time.

Aurora Real Estate Market Conditions - December 2018 new listings

Aurora Months Supply

Aurora single family home inventory increased by 21% this December, jumping to 2.3 months supply of homes for sale. The months supply of Aurora single family homes for sale at the same time last year was 1.9 months. The months supply of condos/townhomes in Aurora is jumped to 1.8 months supply for sale, up 64% from last December when there were 1.1 months of supply. Anything under a 5 months supply is considered favorable conditions for sellers.

Aurora Real Estate Market Conditions - December 2018 months supply

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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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