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 Homes 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.
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.
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.
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.
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Sources: MRED, Agent Metrics, my little pencil.