Signs of life in our Hanover Park IL Real Estate Market recently. We are moving ahead and sales have finally reached above the 2010 level of closings. For the 3rd Quarter of 2011 Hanover Park Single Family Homes are 60% above 2010 closings but unfortunately Hanover Park Multi-Family are down -46% over 2010.
As of yet there are still no price gains that I can see with the foreclosures still leading the way in current sales. If all goes well, the next trend will be for prices to finally level off and slight increases to begin. This also would depend on how much inventory we have going into the winter months ahead. Currently the number of properties for sale is also down from the 2010 levels. Hopefully townhome and condo sales will begin to make a recovery like the single family homes have. Keep your fingers crossed for additional sales going into the winter market.
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