Schaumburg IL Real Estate - What have home sales been doing?

Real Estate Agent with RE/MAX Suburban

Schaumburg Homes - Schaumburg IL Real Estate - Housing Market for May 2012

How to describe the current market for Schaumburg IL Homes?   We have actually been seeing a distinct improvement for the last 12 months.  Interest rates have never been lower with affordability being the best it's ever been.  

The months supply of inventory for Schaumburg IL Homesschaumburg homes,schaumburg IL real estate, has been steadily decreasing and has actually kept our recovery on an even keel. We have 27% less in housing inventory then we did a year ago.  Too many homes on the market makes it more competitive and prices are forced downward. 

schaumburg homes,schaumburg IL real estate,Another good indicator that the Schaumburg IL market is improving is the number of homes that go under contract each month. Currently we are at 23% for homes and 41% for townhomes/condos . This is terrific and these numbers are the highest in 2 years!

I'm positive about the market in Schaumburg!  It's been constantly improving from the number of homes that go under contract each month to the average sold prices.

Please remember that during the past year the lower end homes are selling first which brings down the average prices for the whole market.  The more foreclosures enteringschaumburg homes,schaumburg IL real estate, 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 more?  Banks are now giving two year home warranties and paying mortgage points as further incentives.

Move-up buyers have been watching and waiting to move up to that 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.

The graph on average prices does not indicate that prices are finally on the rise.  It just means that more upper end homes are now selling and are elevating those average prices.  There are no price increases at this time.

schaumburg homes,schaumburg IL real estate,If you are thinking of buying a Schaumburg IL Home, I hope you'll consider me as a 'buyers agent' for your purchase. An experienced veteran, like myself, can steer you around all the rough patches and help you take advantage of buyer trends.
If you are researching this update to possibly sell your Schaumburg IL Home, please email or call to discuss the advantages of my marketing abilities and getting your home turned to 'SOLD'.

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Sources:  MRED, Agent Metrics, my little pencil.
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lyn sims remax suburban  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

Anyone thinking of buying a Schaumburg IL Home, should call the most wonderful Realtor, Lyn Sim's who will help you through the buying process every step of the way with her excellent customer service, years of experience and market knowledge! With Lyn representing you you're in the best hands!

Jun 12, 2012 09:05 AM #1
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