Hanover Park Illinois Market Update by Price Range - July, August, September 2009

Diligently trying to keep both buyers and sellers educated on the local Hanover Park Illinois Home Sales and housing market has been my goal with regular posts. This market update gives you the number of homes that have sold by price range so you get a feel for the current sales activity.  Which is down not giving encouraging news!

26% over the last 3 months!

Isn't the $8000 Tax Credit making a difference?  Isn't the lower interest rates making a difference?  Maybe the great values in the area?

I honestly can't say the reason for this quarterly downturn.  We were just up in sales 30% over the 1st quarter of the year.  Average days on the market is also up at 194.  The listing price to selling price ratio is 5%.

Currently for the Hanover Park Illinois Home Sales from July to September 2009 you can clearly see that over 78% of the closed sales have been under the $200,000 price range.  The lowest sales price was $52,000 and the highest sales price was only $262,500.

How can you use this information if you are a buyer?  The price range that you are thinking of purchasing in, is it one of the more active price areas of the market?  It would be telling you that there are many other buyers also in your price range all looking for that 'deal.'

How can this information help you if you are a seller?  If you are planning on selling your home soon, you can see which price ranges are most active.  Clearly the price range above $300,000 has been non-existent and rarely sales have occurred.  You might have to plan accordingly for extra market time.  As a seller, you have to be sure that your homes curb appeal and presentation is 'spot on'. in a market like this.  Possibly some extra updates and staging might be required before you put your home on the market.  Do you know what the average market time is for your price range?

Hey Lyn, what about foreclosures?  Of those closed 41 total sales only 15 were foreclosures and 6 were short sales.
  

Market Update April, May, June 2009


Looking for a market expert to help you sell your home in the area?

Looking for a great home in the area?

     

   
    Lyn Sims (847)230-7324 at RE/MAX Suburban


    The 'Blog Dog' knows Hanover Park!




I sell in the Northwest Suburbs of Chicago.  If you are thinking about purchasing or selling your home in the communities of Schaumburg, Hoffman Estates, Elk Grove Village, Roselle, Palatine, Medinah, Itasca, Bloomingdale, Carol Stream, Bartlett, Hanover Park, Streamwood, Elgin, South Elgin, St. Charles and more importantly, want to work with a local area expert, contact me immediately.

Resources:  MRED MLS of Northern IL, my little calculator and golf pencil.

Hanover Park Illinois Market Update by Price  ©2009 TheBlogDog.net and Lyn Sims