Streamwood IL Homes - Streamwood IL Real Estate - 4th Quarter 2010 Market Report
How to describe this market for Streamwood IL Homes? Sluggish, erratic, and unpredictable both for buyers and sellers. Inventory up, sales down.
The months supply of inventory for Streamwood IL Homes has been erratic from 15.7 then down to 8.6 then up to 14.6 months for December. Where did these homes go? I think that sellers have taken their homes off the market and decided not to move or the sellers have become 'reluctant' landlords in order to continue with their future plans. The problem is not solved, only postponed to a future date when the lease expires. Months of inventory or the 'absorption rate' is up 47.7% over 2009.
Another thought that's a little more tragic. Pre-foreclosures are waiting for the legal process to take place, the property seized and cleaned up and then put on the market again for sale. This hidden part of our market is called 'shadow inventory'.
| Oct 2010 | Nov 2010 | Dec 2010 |
| 5.4% | 9.1% | 5.8% |
| Oct 2010 | Nov 2010 | Dec 2010 |
| $154,00 | $155,000 | $146,000 |
What's positive about the market in Streamwood? It's been very steady from the number of homes that go under contract each month to the average sold prices. In many surrounding towns there are extreme changes in the inventory, sales numbers, average prices each month.
Don't forget that during this whole 2010 year the lower end homes are selling first which brings down the average prices for the whole market. The more foreclosures entering with the lower prices makes the cycle continue. Buyers are being 'enticed' by all the REO's and foreclosures because why should they buy the same home for $30,000 more?
Move-up buyers have been wanting to move up to a larger home and also take advantage of the interest rates and great prices. Just one problem - they can't sell their current home. Same conditions for people that want to down size.
| Oct 2010 | Nov 2010 | Dec 2010 |
| 4.9% | 3.4% | 3.4% |
| Oct 2010 | Nov 2010 | Dec 2010 |
| $117,000 | $114,000 | $95,000 |
If you are thinking of buying a Streamwood IL Home, please consider me as a 'buyers agent' for your purchase. An experienced veteran, like myself, can steer you through the 'mine field' on your way to your first or tenth home!
If you are researching this update to possibly sell your Streamwood IL Home, please email (top right) or call to discuss the advantages of my marketing abilities and getting your home turned to 'SOLD'.
Search for Streamwood IL Homes
Streamwood IL Townhome Foreclosures
Streamwood Community Overview
Sources: MRED, Agent Metrics
Comments(0)