Are you curious as to what Long Grove sales were in the first half of 2008?

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 in Long Grove.   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 Long Grove home is worth in the Prairie Trails or  even the Estates of Oak Hills.

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 where or in 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 or even aggressively. 

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 Long Grove in School District 96 for the first 6 months of 2008.

 To recap, these 21 homes sold for 81 percent of the asking price in an average of 245 days on the market.  Additionally, there are 3 more homes under contract as of this date.  However there are  95 homes are  currently active on the market.  My feeling is that unless you price your home aggressively, it may take you a long time to sell.  If you notice, certain homes in the area took over 2 years to sell.  If they were priced correctly at the beginning, they would have received closer to their asking price, in a much shorter time.