Schaumburg Homes - What's the housing market doing now?

Real Estate Agent with RE/MAX Suburban

Positive Signs continue in our Schaumburg Real Estate Market for the 8th consecutive month. Weschaumburg homes,schaumburg IL real estate, are moving ahead with recovery here and sales have successfully reached above the 2010 level of closings.  For the November Schaumburg Single Family Homes are now 10% below 2010 closings and Schaumburg Multi-Family are now up 37% over 2010.  So our local market has totally flip flopped between the single family and attached. Homes have taken an extreme slow down and the attached housing is selling steady (see graph 3 months in a row).

For Schaumburg there are still no price gains calculated with foreclosures still leading the way in current sales.  What is promising is that in a few different surrounding markets the average sales prices are now going up.  If all goes well, our next trend will be for prices to finally level off and slight increases to begin for Schaumburg.  This also would have to take into account how much inventory we have going into winter and we currently are holding near 8 months supply.  We are at a dangerous teetering point here where we can continue to move ahead or have a stall out and slowdown that will continue through our winter.

My summary shows slow growth and first time home buyers or investors have decided to jump in the market to snatch up all those townhouses and condos we've got. It's a good idea for investors as most sales prices will equal a positive cash flow. I've been in multiple offers again for the low end price ranges.

schaumburg IL real estate,schaumburg homes,

Looking for an agent that knows this fluctuating market?  Give me a call to discuss your housing situation and needs.

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lyn sims


  Lyn Sims    Schaumburg IL Area    Northwest Chicago Suburbs  ●  (847)230-7324

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Kristine Ginsberg
Elite Staging and Redesign, LLC - Short Hills, NJ
NJ Home Stager

Lyn - So great to hear positive news for Schaumburg Real Estate Market and for 8 consecutive months! Hope this is a trend that spread to the rest of the country! Happy Holidays! 

Dec 16, 2011 06:36 AM #1
Vanessa Saunders
Global Property Systems Real Estate - White Plains, NY
From Manhattan to the Catskills of New York

CAn you send some of this great news our way please?! Actualy I've had a great year but the market is still slow here and the shadow inventory is positively scary!

Dec 16, 2011 07:25 AM #2
Ellen Caruso
Daniel Gale Sotheby's International Realty - Glen Head, NY

Lyn, Great news...we need it here too, especially my husband who has over 10 lots to build on and sell.

BTW see my blog for a Holiday message to you.

Dec 16, 2011 01:44 PM #3
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Area Real Estate

Ellen: Hope things improve for builders also.

Vanessa: Consider it done!

Kristine: Thanks for stopping, hope the trend continues thru the winter.

Dec 17, 2011 12:51 AM #4
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Lyn Sims

Schaumburg IL Area Real Estate
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