northwest suburbs: Schaumburg IL Area Real Estate Market Report - December 2017 - 01/08/18 10:05 AM
Real Estate Market Update - Northwest Suburbs near the Schaumburg Area - December 2017

This is the place to get all your real estate market questions answered!

What are Prices Doing Now?  Average sales prices are increasing every month and across the board. Every subdivision is responding differently if and 'when' a home in the area goes on the market. Sellers are now pretty happy with prices or have decided that now is a good time to move. How about you?

With our overall amount of inventory we are still in a sellers market. Inventory has decreased between 25% to 30% … (2 comments)

northwest suburbs: Top Closing Prices for 2016 - 01/14/17 09:35 AM
Every year I write about some of the top prices that closed in the MLS. I put a little bit of a different spin on it this 2016 year.  We will have the same unbelievable foreclosure prices in some nearby upscale areas but I included our own area surrounding Schaumburg IL.

Barrington Hills at $3,000,000 - 6BR's, 9.5BA's, 7 fireplaces, 10,600 square feet, 8 car garage, 11 acres of land.  Taxes are $52,700 per year.  This actually sounds terribly cheap to me for all this house.
 
 
Oakbrook at $2,300,000 - 9BR's, 13.5BA's, 4 fireplaces, 25,890 square feet, 8 car garage, 3 … (5 comments)

northwest suburbs: Real Estate Market Report - Northwest Suburbs - December 2016 - 01/11/17 11:27 AM
Real Estate Market Update - Northwest Suburbs - December 2016

Let's jump into some real estate numbers!

What are Prices Doing?  Average sales prices are relatively stagnant compared to other areas of the country. Remember when you hear the talking heads on the evening news they are talking nationally - you should only be concerned with local prices.

Average Days on the Market pretty much stayed the same into December as graph illustrates.

With our decreased amount of inventory for December we are bouncing between a sellers market & buyers market for certain property types or price ranges.  … (3 comments)

northwest suburbs: Northwest Suburbs Real Estate Market - October 2016 - 11/16/16 11:53 PM
Real Estate Market Update - Northwest Suburbs - October 2016

This is the place to get those Northwest Suburban real estate questions answered!

What are Prices Doing?  Average sales prices are relatively stagnant compared to other areas of the country. I think that overall we will do well for the year of 2016 but not as well as some areas of the country.  I have provided an infographic from RE/MAX that shows some of the national real estate 'action'.
 
Average Days on the Market increased from September around 20% higher.  We are now in the last push for the end of the year … (0 comments)

northwest suburbs: Northwest Suburbs Real Estate Update - August 2016 - 09/15/16 04:45 AM
Real Estate Market Update - Northwest Suburbs - August 2016

This is the place to get those Northwest Suburban real estate questions answered!
Each market segment is faring differently but one notice is that days on the market is down from the previous month of July again.
What are Prices Doing?  Average sales prices blipped upward slightly but are relatively stagnant compared to other areas of the country. Illinois price increases came in modestly at 2.9% which is in the lower range of a national survey (see chart).
Average Days on the Market came in lower again from the previous month due of July.  One thing that … (4 comments)

northwest suburbs: Northwest Suburbs - Real Estate Market Update - July 2016 - 08/14/16 05:31 AM
Real Estate Market Update - Northwest Suburbs - June 2016

This is the place to get those Northwest Suburban real estate questions answered for Bartlett, Hanover Park, Streamwood, Hoffman Estates and Schaumburg!
Each market segment is faring differently but one notice is that days on the market is down from the previous month of June again.
 
 
What are Prices Doing?  Average sales prices continue to be relatively stagnant for the Midwest Area overall.  Illinois price increases came in modestly at 4.67% which is in the middle range of a national survey.  Noticeable monthly gains for July.
 
Average Days on the Market came in lower again … (0 comments)

northwest suburbs: Northwest Suburbs - Real Estate Market Update - June 2016 - 07/10/16 04:14 AM
Real Estate Market Update - Northwest Suburbs - June 2016

This is the place to get those Northwest Suburban real estate questions answered!
Each market segment is faring differently but one notice is that days on the market is down from the previous month of May.
What are Prices Doing?  Average sales prices continue to be relatively stagnant for the Midwest Area.  Illinois price increases came in modestly at 4.67% which is in the middle range of a 2015 national survey.  Modest monthly gains again for June.
Average Days on the Market came in lower again from the previous month because of the normal accelerated … (2 comments)

northwest suburbs: Schaumburg IL Area Real Estate Market Update - Northwest Suburbs - April 2016 - 05/12/16 01:42 AM
Real Estate Market Update - Northwest Suburbs - April 2016This is the place to get those Northwest Suburban real estate questions answered!
Well another spring market is under way with monthly totals in excess of 2015. Each market is faring differently but I've noticed that days on the market is down from the previous month of March.
 
What about Prices?  Average sales prices continue to be stagnant for the Midwest Area. Illinois price increases came in at 2.7% nationally which is in the lowest range of the national survey.
Average Days on the Market came in lower from last month because of the normal accelerated buying season.  One thing that … (0 comments)

northwest suburbs: Schaumburg IL Area Real Estate Market - January 2016 - 02/16/16 05:16 AM
Real Estate Market Update - Northwest Suburbs - January 2016

This is the place to get those Northwest Suburban real estate questions answered!
Well another year has started and 2015 was the best year for existing-home sales since 2006. There were about 5.3 million homes sold last year nationally, and that was a 6.5% jump from 2014.  I feel that the market will continue to improve throughout the coming year.
What about Prices?  Average sales prices continue to be stagnant for the Midwest Area. The graph depicts the average prices for 2015.
Average Days on the Market came in higher across the board possibly because of … (3 comments)

northwest suburbs: Schaumburg IL Area Real Estate Market Update - December 2015 - 01/10/16 05:54 AM
Real Estate Market Update - Northwest Suburbs - December 2015This is the place to get those Northwest Suburban real estate questions answered!
This month is the year's finally tally and how did we do? 
Sales were good across the board in our Northwest Suburbs with total closed numbers increasing between 1% to 20% over the 2014 year.  I feel that the market will continue to improve throughout the coming 2016 year.
 

What about Home Prices?  Average sales prices have only increased between 1 to 5% on Single Family and 4 to 14% on Multi-Family.  In fact, most of the average prices only varied between … (2 comments)

northwest suburbs: Real Estate Market Update - Northwest Suburbs - July 2015 - 08/16/15 09:38 AM
Let's get to those Northwest Suburban real estate questions!
 
What's been happening in our current real estate market? What's trending? The housing inventory level is now unchanged from June levels. The amount of homes that go under contract has also been unchanged from June.  In our area 3 times more listings come on the market than those that go under contract. Competition among sellers continues to be a factor as we have not recovered as quickly as other larger national markets.


 
Our Northwest Suburban market is still considered a 'sellers market' based on current inventory levels. Prices should be increasing … (3 comments)

northwest suburbs: Real Estate Market Update - Northwest Suburbs - June 2015 - 07/26/15 02:57 AM
Let's get to those Northwest Suburban real estate questions!
 
What's been happening in our current real estate market? What's trending? The housing inventory is now the highest it has been since the recession started. In our area 3 times more listings come on the market than closings. Competition continues to be a factor in our Midwest market as we have not recovered as quickly as other larger markets.


Our Northwest Suburban market is now considered a 'sellers market' based on current inventory levels. Prices should be increasing more rapidly under these conditions but market times show homes are not selling … (5 comments)

northwest suburbs: Real Estate Market Update - Northwest Suburbs - February 2015 - 03/13/15 05:44 AM
This is the place to get those Northwest Suburban real estate questions answered!
What does 2015 have in store for our real estate market? What's trending? The housing inventory is now the highest it has been since the recession started. In our area 3 times more listings come on the market than closings. Competition continues to be a factor in our Midwest market as we have not recovered as quickly as other larger markets.

Our Northwest Suburban market is still what's considered a 'balanced market' but competition will become more relevant over the next few months.
 
 
And those Prices?  Prices have virtually stayed … (0 comments)

northwest suburbs: Real Estate Market Update - Northwest Suburbs - January 2015 - 02/11/15 02:38 AM
This is the place to get those Northwest Suburban real estate questions answered!
What does 2015 have in store for our real estate market? First off, the housing inventory is now the highest it has been since the recession started. More people are now trying to sell their homes so that will benefit sellers where the market is booming but a detriment to those where the market has not yet quite recovered. Competition is a major market factor with prices increasing in other large national markets & a detractor for a Midwest market like ours. We have just not recovered as quickly as other … (1 comments)

northwest suburbs: Northwest Suburbs Real Estate Market Update - December 2014 - 01/10/15 10:24 AM
This is the place to get those Northwest Suburban real estate questions answered!
Our Northwest Suburban inventory level has increased slowly every month without fail. You've got slightly more competition now than earlier this year so be sure to price your home accordingly. We are still in a 'balanced market' but competition will become more relevant over the next few months.

 
And those Prices?  Prices have virtually stayed flat for December but increased 1% overall from 2013. The indicators are showing that the prices will continue to increase but only marginally. Our market is considered balanced but my opinion is that we … (4 comments)

northwest suburbs: Northwest Suburbs Real Estate Market Update - November 2014 - 12/08/14 03:45 AM
This is the place to get those Northwest Suburban real estate questions answered!
Our Northwest Suburban inventory level has increased slowly every month without fail. You've got slightly more competition now than earlier this year so be sure to price your home accordingly. We are still in a 'balanced market' but competition will become more relevant over the next few months.
And those Prices?  Prices have virtually stayed flat for November again but increased from 2013. The stats show that the prices will continue to increase but only slightly. This should keep the market balanced as it's not good of there are severe … (2 comments)

northwest suburbs: Northwest Suburbs Real Estate Market Update - October 2014 - 11/12/14 08:51 AM
Real Estate Market Update - Northwest Suburbs - October 2014 This is the place to get those Northwest Suburban real estate questions answered!
Our Northwest Suburban inventory level has increased slowly every month since June. You've got slightly more competition now than earlier this year so be sure to price your home accordingly. Overall inventory across Illinois is up over 2013.
 
 
What about Prices?  Prices have virtually stayed flat for October but increased overall from 2013. All real estate is local so each different neighborhood and town is reacting differently to the market. Some subdivisions still have not had any sales since reaching market bottom. … (2 comments)

northwest suburbs: Northwest Suburbs Real Estate Market Update - September 2014 - 10/11/14 03:33 AM
Real Estate Market Update - Northwest Suburbs - September 2014 This is the place to get those Northwest Suburban real estate questions answered!
Our Northwest Suburban inventory level has increased slowly every month since June. You've got slightly more competition now than earlier this year so be sure to price your home accordingly.
What about Prices?  Prices have virtually stayed the same in September but increased overall from 2013. All real estate is local so each different neighborhood and town is reacting differently to the market. Some subdivisions still have not had any sales since reaching market bottom. Can't have any prices increases if there are no listings … (4 comments)

northwest suburbs: Northwest Suburbs Real Estate Market Update - August 2014 - 09/13/14 12:51 AM
Real Estate Market Update - Northwest Suburbs - August 2014
This is the place to get those Northwest Suburban real estate questions answered!
Our Northwest Suburban inventory level has increased by 3 houses a day in June/July, then fell slightly for August. You've got slightly more competition now than earlier this year so be sure to price your home accordingly.
 
What about Prices?  Prices have squeeked upwards in Augustwith moderate increases overall from 2013. All real estate is local so each different neighborhood and town is reacting differently to the market. Some subdivisions still have not had any sales since reaching market bottom. Can't have any … (0 comments)

northwest suburbs: Northwest Suburbs Real Estate Update - July 2014 - 08/18/14 12:30 AM
This is the place to get those Northwest Suburban real estate questions answered!
Our Northwest Suburban inventory level has held steadily and going unchanged through July. Price your Northwest Suburban home well, make sure it shines with staging and you will be rewarded with an offer. You've got slightly more competition now than earlier this year.
What about Prices?  Prices have inched upwards from June and increased overall from 2013. All real estate is local so each different neighborhood and town is reacting differently to the market. Some subdivisions still have not had any sales since reaching market bottom. Can't have any prices increases if there … (5 comments)

 
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Lyn Sims

Schaumburg IL Real Estate

Schaumburg, IL

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RE/MAX Suburban

Address: 2311 W. Schaumburg Road, Schaumburg, IL, 60194

Office: (847) 230-7324

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Lyn Sims offers market comments, housing industry updates and real estate news about the surrounding communities near Schaumburg IL in the Chicago Northwest Suburbs.


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