Northwest Suburban Real Estate Update - September 2011

By
Real Estate Agent with RE/MAX Suburban

Real Estate Market Update - Northwest Suburban September 2011

northwest suburbs,lyn sims,It's good news and I'm market optimistic! That's for sales being on an upward trend for the last 6 months.  The numbers are showing a distinct improvement for the 6th month in a row for the Northwest Suburban Market!

The majority of towns sales are up.   Even if the town is showing a negative (YOY Change), the sales are increasing each and every month overall.  Most of the average sales prices are still low but that is because most of the lower priced homes are being bought by first-time home buyers or investors snatching up those deals.  It will take some time but once the lower price ranges begin to move at a decent pace the move up buyers will also begin their acquisition of that larger home.  
northwest suburbs,lyn sims,
Interest rates have hit another all time low making a home the most affordable it's ever been in the last 50 years.  Get out there and take advantage of a housing opportunity if you can.

Foreclosures on the market currently are slashing away at prices to get rid of the inventory going into the winter months.  Winter is notoriously when you can get the best deals in real estate if you have the patience to trudge through the snow and ice.  

Positive Signs .... Upward Momentum ... Even in little increments we are seeing an increase in sales.


Single Family Homes September 2011 Total +/- 2011
YTD Total
% YOY Change Avg. Sales Price 2011
Bartlett 37
Even
214 40% $251,308
Elk Grove Village 15
UP
97 -8.5% $241,925
Hanover Park 16
Down
138 7% $132,949
Hoffman Estates 24
UP
185 -5.6% $259,103
Schaumburg 25
Down
196 12.6% $263,554
Streamwood 25
Down
237 20% $148,915



 Multi-Family Homes September 2011 Total +/- 2011
YTD Total
% YOY Change Avg. Sales Price
2011
Bartlett 10
UP
74 21% $152,383
Elk Grove Village 11
UP
118 37% $107,445
Hanover Park
7
Down
123 0% $79,685
Hoffman Estates 16
Down
140 23% $97,560
Schaumburg 33
Down
287 -14% $122,286
Streamwood 16
UP
109 -18% $113,610



If your home is currently on the market it is showing that we are having a slight recovery here in our area for 6 months in a row.  Single family homes are still doing better than the (Multi) condos and townhouses overall.  

As usual there are some anomalies, the high request areas that normally would do well are not and the others are.  Schaumburg and Streamwood Multi-family is still down overall for the year but each month sales make gains to the positive.  Possibly there are just too many other opportunities in other areas for buyers to choose from?  I will tell you that if your house is updated and without extensive remodeling work to do - it is going to sell.

Schaumburg Home supply was up for September at 11.8 months up from August's 7.8 months.  Homes under contract was 6.8% of inventory.

Bartlett Home supply was up for September at 6.6 months also up from August's 5.2 months.  Homes under contract was 11.9% of inventory.

Streamwood Home supply was virtually the same for September at 6.8 months and 7.1 for August.  Homes under contract was 11.7% of inventory.





Looking for an agent that's really a market expert?  Let's get your Northwest Suburban home on the market and priced right to sell!

Looking for a home in the area? Please give me a call or email me on the right to talk about the possibilities.



Sources:  MRED September Stats 2011


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lyn sims remax suburban  Lyn Sims    Schaumburg IL Area    Northwest Chicago Suburbs  ●  (847)230-7324
 
 
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Comments (2)

Lynn B. Friedman CRS Atlanta GA 404-939-2727
Atlanta Homes ODAT Realty - Buckhead - Midtown - Westside ... Love our City - Love our Clients! - Atlanta, GA
Concierge Service for Our Atlanta Sellers & Buyers

Dear Lyn,
How interesting for a market report! 

I am trying to find "my" style for doing market reports - yours would be a great model to follow. Don't worry, I won't really "copy" or use your personal picture!!!  (LOL)

yellow star

 

 

You are far ahead of the pack --- as usual ---

 

Unfortunately, I have to admit - most of what I have seen so far fall in the group of deadly boring or really ugly!

Have a happy day -
Lynn

Oct 14, 2011 06:30 AM
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg Real Estate

Lynn:  Report the changes each quarter to keep the sellers updated on how you see it.  I really am amazed on how many agents DO NOT follow the 'trends' and can't tell their clients anything other than what the TV talking heads tell them.

You'll need some graphs too. Let me know if you want the link for that. And obviously, don't make it boring.

Oct 15, 2011 07:28 AM

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