Whether you are in the market to buy a home or to sell your current home, it is important to keep abreast of market statistics (or at least to work with a knowledgeable REALTOR who does). Newspapers, national magazines, and television news report on regional and national trends, but don't do a very good job of explaining the local real estate market. The number of new housing starts nationwide or the percentage increase in foreclosures or short sales in the entire state have very little, if any, bearing on how quickly your Buffalo Grove townhome in the Waterbury will sell, or how much your home is worth in the Buffalo Grove neighborhood of Sterling Green.
Everywhere I go these days, people are asking me the same question, how is the real estate market doing? My answer is always dependent on which segment of the market you are talking about? For example, the first time home buyer market is as strong or stronger than ever. Those people who were renters and don't have anything to sell are strong buyers and sellers in this market can sell their home relatively fast. Also homes in desirable neighborhoods, can sell within a few days if the homes are situated in a great location, updated and priced correctly.
Do you live next door to someone who just sold their house and you wanted to know the sales price? Since it would be considered a faux pas to ask your new neighbors what they paid for their home, just click on the neighbor's house green button, complete the data on the form including the entire address and I will be happy to provide you with the information you are looking for. Below is the information for the homes that sold in April of this year.
The following 20 single family homes sold in Buffalo Grove in April of 2008
Street Name | List Price | Closed Price | Rooms | Bedrooms | Baths | Type of House | Subdivision |
Mohawk | $269,900 | $250,000 | 6 | 3 | 2 | 1 Story | OLD BUFFALO GROVE |
TWISTED OAK | $275,000 | $259,000 | 8 | 4 | 3 | Raised Ranch | STRATHMORE |
ARBOR | $298,900 | $270,000 | 8 | 3 | 2.1 | Raised Ranch | Arbors of Buffalo Grove |
ELMWOOD | $299,000 | $279,000 | 7 | 3 | 1.1 | Split Level |
Lockwood | $314,900 | $290,000 | 7 | 3 | 2.1 | 2 Stories | Suffield Place |
Saxon | $339,000 | $315,000 | 8 | 4 | 2.1 | 2 Stories |
LAMONT | $329,900 | $315,000 | 7 | 3 | 1.1 | 2 Stories | SUFFIELD PLACE |
Ronnie | $315,000 | $316,000 | 8 | 4 | 2.1 | 2 Stories | StrAthmore |
SHAMBLISS | $359,000 | $352,000 | 7 | 3 | 2 | 1 Story | CROSSINGS |
Springside | $369,000 | $360,000 | 8 | 4 | 3 | Raised Ranch | Strathmore |
HOLLY STONE | $379,000 | $364,500 | 10 | 4 | 2.1 | 2 Stories | STRATHMORE |
TIMBER HILL | $399,900 | $365,000 | 8 | 4 | 3 | Raised Ranch | STRATHMORE |
Fabish | $399,950 | $372,000 | 8 | 4 | 2.1 | 2 Stories | ASTOR PLACE |
University | $417,000 | $387,100 | 8 | 4 | 2.1 | 2 Stories | CAMBRIDGE OF BUFFALO GROVE |
Alden | $419,900 | $392,500 | 8 | 4 | 2.1 | 2 Stories | Strathmore |
Camden | $429,900 | $400,000 | 8 | 4 | 2.1 | Split Level w/ Sub | CROSSINGS |
Stanton | $499,900 | $460,000 | 8 | 3 | 2.1 | 2 Stories | OLD FARM VILLAGE |
NEWFIELD | $524,900 | $510,000 | 9 | 4 | 3.1 | 2 Stories | OLD FARM VILLAGE |
Avalon Ct. North | $599,000 | $570,000 | 8 | 4 | 3 | 2 Stories | Mirielle |
WEILAND | $589,000 | $583,000 | 9 | 4 | 3.1 | 2 Stories | Amberleigh |
Last year 22 detached homes sold in April, and this year only 20 detached homes sold. In my opinion this is not such a big difference. Also, the average time on the market of these 20 homes was 124 days in 2008 compared to 107 days in 2007. To me, an extra 17 days is not such a big difference either.
With all the negative publicity of how the market is doing, are you surprised that only 2 less homes sold this April compared to last April, and it took only 17 days longer to sell a home in this April compared to last April.
Real Estate is Local so don't believe everything you read in the papers.
If you want more information regarding specific real estate sales in the Buffalo Grove, Long Grove, and Lincolnshire area, please do not hesitate to call me at 847-602-5435 or email me at info@buffalogrovehomes.com I am available 24/7 to make appointments!
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