Schaumburg IL Area Real Estate Market Update - August 2015

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

Real Estate in the Northwest Suburbs - August 2015

Let's tally up those Northwest Suburban real estate numbers and see where we stand!
 
What's been happening in our current real estate market? What's trending? The housing inventory level is now considered extremely low and is trending toward a sellers market.  Competition amoung sellers continues to be a factor as we have not recovered as quickly as other larger national markets.

schaumburg IL areaschaumburg IL area

 

Our Northwest Suburban market is still considered a 'sellers market' based on current inventory levels. Prices should be increasing with fewer home selections.  Our average market times show homes are not selling as quickly as the low inventory would suggest.  We need low market times & low inventory levels for prices to increase more rapidly & buyer demand to become frantic.

 

And those Prices? Prices have flat lined during August with marginal increases. Even though our market is considered 'a sellers market', we still have too much inventory for prices to increase.  Multi-family homes have been trending higher than Single Family this year.

 

Average Days on the Market tells homeowners how long it's going to take on the average to sell their home. Each market area and subdivision is selling differently and was effected differently so there is no hard & fast rule here. Market times are below and even lower for the Multi-family sector as the graph indicates. Market times did increase for August.

 

Foreclosures now have what percentage of our market?   Find my study here.

 



schaumburg areaLook for an agent that knows your market.

Contact me to zero in on your specific area and give you the current market details so you can make an informed decision. 

Want your home to sell faster?  Let my experience help guide you to that successful move.



July 2015 Report
Sources:  MRED August Stats 2015

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lyn sims remax suburban  Lyn Sims    Schaumburg IL Area    Northwest Chicago Suburbs  ●  (847)230-7324
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Rainmaker
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Kat Palmiotti
406-270-3667 (MT), 914-419-0270 (NY), Broker in NY with Grand Lux Realty and in MT with (coming soon!) - Kalispell, MT
The House Kat

Nicely done market report. I like the arrows which indicate how things are trending at a glance.

Sep 18, 2015 01:15 AM #1
Rainmaker
1,534,826
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Real Estate

Kat:  Sales have slowed down from the month before. Hopefully we'll have a surge before the end of the year.

Sep 18, 2015 04:05 AM #2
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Rainmaker
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Lyn Sims

Schaumburg IL Real Estate
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