This is the 'Months Supply of Inventory' for Schaumburg IL Single Family Homes for 2009.
This number is also called the 'Conversion Rate' or the 'Absorption Rate' which is how long and how much inventory is on the market in that particular town. Obviously, the higher the rate, the longer the market time for homes in that community.
Does your agent know the 'Absorption Rate' and will they share that information with you? It shouldn't be kept a secret because it plays a pivotal role in how your home should be marketed.
So we obviously have different levels of 'Absorption' in the market and I've tried a new visual demonstration for you:
- Q tip Rate - nothing much getting sold.
- Toilet Paper Rate - I think a few Buyers are out there but they are just sitting there and spinning their roll.
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Empty Toilet Paper Rate - Just OK, nothing terrific, steady as she goes, things are looking up!
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Generic Paper Towel Rate - Buyers are remembering about the tax credit deadline, still cautious and mulling over values.
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Bounty Towel Rate - This is where Sellers might see a micron of appreciation. The market is faster than this 'picker upper'.
- Fluffy Towel Rate - Pretty darn good, feels good too!
- Sham Wow Rate - This is the good old days of Real Estate! Homes don't sit on the market at all! Sellers are happy and Buyers are mad during this level. All is right with the world!
Well, let's come back to earth and discuss the current market for Schaumburg IL homes! Good news is that the inventory is down by 20% over a year ago of December 2008. Either people are not moving and have given up or rented their homes.
December 2009's sales rate was 10 under contract vs. November's 23. Down by more than 50%. December and January are usually slow months and sometimes even slower depending upon how much snow we get!
This is the official rating.
Schaumburg Inventory June 2009
Lyn Sims (847)230-7324
at RE/MAX Suburban
I proudly serve and sell real estate 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.
Disclaimer: All data and information provided on this blog is for informational purposes only. Lyn Sims makes no representations as to accuracy, completeness, correctness, suitability or validity of any information on this site and will not be liable for any errors, omissions, or delays in information or any losses, injuries, or damages arising from it’s display or use.
Resources: MRED MLS
Schaumburg IL Homes - Months Supply of Inventory ©2010 Lyn Sims - RealEstateConsumerInfo.com and RealEstateBuyMe.com
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Thanks Lyn! I grew up in Schaumburg as was chatting with my parents the other day regarding what our homes would cost now. Then...your post popped up and I got a good run down of the market. Thanks!