Lake Zurich Real Estate - Sales of Single Family Homes
A review of the Lake Zurich real estate market for 2011 reveals some leveling off. When I said flat lining I did not mean dying, I was refering to the ups and downs of sales over the last 5 years and where Lake Zurich real estate was in 2011.
For this report I am not comparing to previous years, after all we all know the markets have been depressed, so why rub salt in an open wound. Instead I wanted to look at sales over a 12 month, 6 month and 3 month period to see if it was getting bettor or worse. This chart reveals what to me appears a stabilizing market.
Take a look at the following chart and especially:
- Average homes sold per month.
- Monthly Supply of Lake Zurich Real Estate.
- Average Market Days
- Average list prices and sales prices.
Every marker shows stability. The average amount of Lake Zurich homes sold across the year is pretty much 15 a month. We have give or take 8 months supply of homes. The average list to sales price ratio is very close to exactly 95% all the time.
Lake Zurich Real Estate Market Times
Throughout the year our average marketing time has fallen. Although home sellers might not be happy at the flat line of average sales in Lake Zurich, the mere fact that homes are selling in less time can point to the expectations of an increase in prices over time. Don't get too excited though. I may be saying Lake Zurich real estate prices might increase, but to expect an instant change in the market is too optimistic. As I have said in many of my year end reports, positive gains will start at some time, but they will be slow, very slow and steady.
If selling your Lake Zurich real estate is on the calendar for 2012, continue to consider pricing, presentation and your new goals. Call me and we can start working on achieving those goals: 847-363-3686