If you live in one of these Fox Valley neighborhoods, you should sell!
As we've been blogging about for the last several months, conditions are favorable in many Fox Valley neighborhoods to sell your home right now. Buyers are plentiful and housing inventory is low making for a perfect sellers market.
If you live in any of these neighborhoods and have considered moving, now would be the time!
The following data was compiled from the Multiple Listing Service on Tuesday, February 2nd, 2016. It looks at any Fox Valley neighborhood that had 5 or more homes close in the last 6 months. This is a good indicator that buyers are interested in these neighborhoods.
Next we looked at how many homes are currently for sale and this gives us the current months supply of housing. A stable housing market is one in which there is 5-6 months worth of inventory.
Anything below that and we're in a sellers market where a home seller can expect a quicker sale and higher than normal sales price. Anything over 6 months worth of inventory puts us in a buyers market where the number of days on market increases and sale prices begin to dip.
So let's see what we're looking at throughout the Fox Valley.
- There are 0 months of inventory in Briargate and Hunters Woods Commons. Buyers have shown interest here but there are no homes for sale.
- Cambridge, Harvest Hills, Kingswood, Timbers and Traditions at Harvest Hills have 1-2 months of inventory. An excellent opportunity to sell in these neighborhoods.
- Stable neighborhoods with 5-6 months of inventory include Pheasant Run Trails, Red Gate Ridge, The Windings of Ferson Creek and Whitmore Place.
- With over 8 months of housing inventory, you'll find a buyers market in Burr Hill, Fox Mill, Remington Glen, Royal Fox, Sunset Views and Three Lakes.
- Big opportunities in Geneva East, Greenwich Square and Pepper Valley with 0 months of inventory.
- Randall Square only has 1.7 months of inventory.
- Sterling Manor is stable with 6 months of inventory
- Buyer markets exist in Eagle Brook, Fisher Farms and Mill Creek.
- Windmill Cove is hot right now with buyers yet there is nothing for sale.
- Harvell Farms and Georgetown are stable with 4-6 months of inventory.
- Tanglewood Hills, offering 18 months of inventory, is a major buyers market.
If you have questions about real estate conditions in your neighborhood, give us a call at (630) 488-3300 or check us out online at kombrink.com.