Bartlett IL Real Estate - Bartlett IL Homes - March 2012 Market Report

Bartlett IL Real Estate - Bartlett IL Homes -  March 2012 Market Report

How to describe this market for Bartlett IL Homes?   I say it's a roller coaster for some buyers and a boring siesta for sellers! Either way it's more unpredictable this month!

The months supply of inventory for Bartlett IL Homes has been decreasing sharply from December to March.  It has steadily decreased these winter months (usually opposite) to a current 3.8 months supply. Generally this would be an excellent sign for the overall market!  But ..... this should signal that the market is turning into a sellers market based on this inventory level.  But .... it's not!

Again, I think that some sellers have taken their homes off the market and decided not to move or the sellers have become 'reluctant' landlords in order to continue with their future plans. Even though the inventory is less, buyers are still not buying what is currently on the market for sale.  It's like they shrug and go 'uhhh naww, no thanks'. That attitude does not make a brisk improving market!

Sales have been steadily increasing with the low end of the market being the most active.  Buyers are still going after those lower priced foreclosures which offer the best value in their eyes.  There have not been many sales taking place over the $300,000 range which I would consider that 'move up' buyer.

What's positive about the market in Bartlett?  It's been fairly steady with the number of homes that go under contract each month.  Sales are steadily increasing but slowly.  In many surrounding towns there are extreme fluctuations in the inventory, sales numbers, average prices each month. Bartlett's Multi-Family average price has unfortunately just dropped to $69,000 from $110,000.

Move-up buyers have been wanting to move up to a larger home and also take advantage of the interest rates and great prices.  Just one problem - they can't sell their current home.  Same conditions for people that want to down size.

Multi-Family Market - Average Sold Prices for Bartlett Homes

If you are thinking of buying a Bartlett IL Home, please consider me as a 'buyers agent' for your purchase. An experienced veteran, like myself, can steer you through the 'mine field' on your way to your first or tenth home!