Looking for current and concise market information for your Schaumburg Home? You've come to the right place so let's delve right into the 3rd Quarter information.
Let's talk about a few key market facets here - the months supply of inventory for Schaumburg Homes has been inching downward. We have 37% less housing inventory then we did a year ago but still the competition is fierce for sellers. I believe that if sellers had their homes in better market condition, sales would increase. The current market time is 82 days to contract which is not exactly 'flying off the shelves' fast is it? Schaumburg's inventory did jump significantly in July (from 3.9 to 5.5 months).
An excellent indicator that the Schaumburg housing market is under steady recovery is the percentage of homes that go under contract each month. Currently we are at 18% for homes and 24% for townhomes/condos. Even though our inventory has decreased overall, homes going under contract have stayed at a level pace this quarter.
What about the Days on Market? That has virtually stayed the same over last year with the average days on market for listed homes being 92 days.
Please remember that this entire year we experienced a 'balanced market' neither favoring sellers or buyers. First time home buyers started moving the market and now move-up buyers will continue to do so in 2015.
Distinct change - there is a better overall mix of regular transactions 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 nationwide, but prices are not increasing in our area. Each area of the country is recovering differently and being in the 'Modest Midwest' we are slow to catch up.
If you are thinking of buying a Schaumburg Home, I hope you'll consider me as a 'buyers agent' for your purchase. An experienced veteran, like myself, can steer you around the potholes, advise a strategy and help you take advantage of buyer trends.
If you are researching this update to possibly sell your Schaumburg Home, please email or call to discuss the advantages of my marketing abilities and getting your home turned to 'SOLD'.