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Hoffman Estates IL Real Estate - Market Improvement for May 2012
Hoffman Estates IL Real Estate - Housing Report for May 2012 How to describe the current market for Hoffman Estates IL Homes? We have actually been seeing a distinct improvement for the last 12 months. Interest rates have never been lower with affordability being the best it's ever been. The months supply of inventory for Hoffman Estates IL Homes has been steadily decreasing and has actually kept our recovery on an even keel. We have 19% less in housing inventory then we did a year ago. Too many homes on the market makes it more competitive and prices are forced downward. Another good indicator that the Hoffman Estates IL market is improving is the number of homes that go under contract each month. Currently we are at 18% for homes and 16% for townhomes/condos . This is terrific and these numbers are the highest in 2 years! (Compare other towns) I'm positive about the market again! It's been constantly improving from the number of homes that go under contract each month to the average sold prices.
Please remember that during the past year the lower end homes are selling first which brings down ... more
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