Hoffman Estates IL Real Estate - Understanding Supply & Demand

By
Real Estate Agent with RE/MAX Suburban
https://activerain.com/droplet/4vG9

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.

hoffman estates IL real estateLet'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 hoffman estates IL real estatethe 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.

hoffman estates IL real estateI'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. 

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lyn sims remax suburban  Lyn Sims    Schaumburg IL Area    Northwest Chicago Suburbs  ●  (847)230-7324
 
 
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Tammie White, Broker
Franklin Homes Realty LLC - Franklin, TN
Franklin TN Homes for Sale

When considering an agent to sell your Hoffman Estates home, choose Lyn Sims. She really know her stuff and will provide you with a comprehensive picture of the market in your area.

Jan 16, 2015 01:28 AM #1
Rainmaker
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William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I am seeing a supply shortage right now and spring will be much worse.

Jan 16, 2015 03:42 AM #2
Rainmaker
1,571,372
David Saks
(retired) - Memphis, TN

Terrific information and a fine post. Have a great day ahead.

Jan 16, 2015 04:33 PM #3
Rainmaker
2,386,588
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

You know this market very well, as the report was done very well. Hopefully your activity will increase throughout the year.

Jan 20, 2015 04:07 AM #4
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