Market Conditions in Prestbury Sugar Grove IL
The Prestbury Sugar Grove IL real estate market has been quite active this past year. We've put together an overview of home sales, prices and conditions for your neighborhood.
The chart on the left details the last 12 months of activity in Prestbury. These figures are for detached single family homes only. Prestbury does have townhomes and other attached housing available.
As you can see, 26 homes have sold during the previous year. That's over 2 homes a month!
There are 9 homes currently for sale, with two of those being under contract. This translates into a housing supply of just over 3 months.
We like to see a 5-6 month supply of housing for a particular area to be consider stable/normal. With Prestbury Sugar Grove IL having only a 3.2 month supply, this definitely puts us in a seller's market. If you've been considering selling your Prestbury home, give us a call and we can explain how to leverage current market conditions.
How Does Prestbury Sugar Grove IL Stack Up to Sugar Grove in General?
HOUSING INVENTORY
Looking again at detached single family homes in the $250,000 to $350,000 price range we see that while inventory has dropped this year, the city of Sugar Grove still has a 5.9 month supply. This falls in a normal range. Now compare that with the 3.2 month supply in Prestbury Sugar Grove IL and you see there is a much higher demand in this neighborhood.
CLOSED HOME SALES
Home sales are up in Sugar Grove this year by a staggering 44.7%. Again, this is still looking at detached single family homes priced between $250,000 to $350,000 as this is the average price of a home in Prestbury. There were 68 home sales in this price range during the last 12 months. 38% of those sales were in the Prestbury neighborhood.
So What Does This Mean?
Buyer demand is high and housing inventory is low in Prestbury right now. This is a recipe for a succesful home sale. If you've been on the fence about selling your Prestbury home, reach out to us and we would be happy to explain how to levarage these current market trends to your favor.
You can reach our team by calling (630) 488-3300 or email us at team@kombrink.com.
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