Northwest Suburbs Housing Market Update - September 2010

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Real Estate Agent with RE/MAX Suburban
https://activerain.com/droplet/7W

Northwest Suburbs Housing Market September 2010


What's been happening you're wondering?  When you're in thenorthwest suburbs housing market negative anything is a gain!  Or another one is, anything above zero is a good thing.  That's how I feel about the housing market in the Northwest Suburbs.  All those talking heads telling you in the media 'it's a gain for prices' or 'home prices on the decline again'.  Just watching one hour of news is enough to make your head spin and say 'hey, which way is the market going anyway'?

Well one thing I will say is that all real estate is local.  Listening to CNN is not really going to tell you what your Northwest Suburban home is going to sell for or how the market is.  It's just too broad a brush to paint the entire U.S. with a blank statement of any kind or shape.  So what I can do is tell you what is happening NOW in the Northwest Suburbs.  I will compare sales to 2009 only because you have to compare it to something to see if the market is improving or stagnant.

We are improving ........

Community # of Houses
Sold
Median Price
Change
Bartlett -8.3% -5.5%
Elk Grove 17.8% -18.8%
Hanover Park 2.4% -14.7%
Hoffman Estates 5.9% -6.5
Schaumburg -3.4% 0%
Streamwood 8.9% -8.5%


Bartlett Sales are down slightly compared to other areas.  Price change is actually minimal because sales are now becoming steady.

Elk Grove Sales did great in the number of homes sold overall but again the price drop is because first time home buyers and foreclosures are moving the market.  They are in the lower ranges of each price category.  Elk Grove sales have been flat for months and this is a welcome improvement.

Hanover Park did wonderfully with a slight number of homes sold.  Same can be said here again that foreclosures and first time buyers are moving the market here.  Investors are also scooping up some great deals.

Hoffman Estates had a great increase in sales numbers after being stagnant for months.  Investors and first time home buyers are vying for the values here.

Schaumburg's Sales were down slightly which is nothing to worry over.  Prices are flat - at zero, it's not good but it's not bad either.

Streamwood had the 2nd largest sales increases.  Great values and selections for buyers here but the lowest price ranges are the sales leaders effecting the overall median sales prices.  It's the lower end first time buyers taking the lead here.

 



If you are researching this update to possibly sell your home in the Northwest Suburbs, please email or call to discuss the advantages of my marketing abilities and getting your home turned to 'SOLD'.

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lyn sims remax suburban  Lyn Sims    Schaumburg IL Area    Northwest Chicago Suburbs  ●  (847)230-7324
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Ambassador
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Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Lyn, Great analysis!  Your local buyers need to turn off the TV and stop reading the national stories and call a LOCAL expert such as yourself!  What happens in California shouldn't mean a thing to the buyer in Schaumburg.

Oct 13, 2010 10:56 AM #1
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Cindy Marchant
Keller Williams Indy NE 317-290-7775 www.marchantteam.com - Carmel, IN
"Cindy in Indy" , Realtor, Fishers Real Estate

I wonder what the analysis is for the third quarter, our numbers look great ytd also but are declining for the third quarter 2010 to 2009.  Those first six months of 2010 were crazy busy and I think it might skew the total numbers.

Cindy in Indy

Oct 14, 2010 01:15 AM #3
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Mario Gattavara
IMPACT California Properties - Oroville, CA
(Lake Oroville Area)
Great post! Nice to see someone who keeps up with current market activity. Someone you want on your side when listing or making an offer. Good luck & success to you Lyn!
Oct 17, 2010 04:42 AM #4
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Lyn Sims

Schaumburg IL Real Estate
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