Hoffman Estates IL Real Estate - Housing Market Info December 2014
Looking for current and concise market information for your Hoffman Estates Home? You've come to the right place so let's delve right into the information.
Let's talk about a few key market facets here - the months supply of inventory for Hoffman Estates Homes has been steadily increasing. We have 45% more in housing inventory then we did a year ago. There are many competing homes and current market time is 97 days to contract.
An excellent indicator that the Hoffman Estates housing market is continuing to improve is the percentage of homes that go under contract each month. Currently we are at 12% for homes and 26% for townhomes/condos. Even though our inventory has increased, homes going under contract have kept a level pace.
Hoffman Estates inventory did jump significantly in November (from 4 to 11 months) due to a glut of foreclosures being listed. That being said, the average sales prices were all pulled down because of it.
What about the Days on Market? That has improved 13% over last year with the average days on market for listed homes being 99 days.
I'm positive about our market in Hoffman Estates! 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 we experienced a 'balanced market' neither favoring sellers or buyers. First time home buyers are moving the market and will continue to do so in 2015.
Distinct change - there is a better overall mix of regular transactions and what you could consider regular pricing with lower short sales and foreclosures. Sorry to say there are no significant price increases at this time. The mainstream media might be reporting it, but prices are not increasing in our area.
If you are thinking of buying a Hoffman Estates 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, advise a strategy and help you take advantage of buyer trends.
If you are researching this update to possibly sell your Hoffman Estates 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.