Hanover Park Homeowners: It's Time to Sell!
If you've been considering putting your Hanover Park home on the market, the time is NOW! Looking at several key indicators in our local real estate market, everything is working in your favor.
HOME PRICES ARE UP
The average sales price of a home in Hanover Park has been climbing for the last 3 years. At the bottom of the market, in November 2013, homes we're selling for just above $100,000. The current sales price in Hanover Park is over $150,000 and rising. Just in the last 12 months, prices are up 3.6%.
Everyone knows the law of supply and demand. Hanover Park currently doesn't have enough homes to fill the buyer demand. So, with demand high and supply low, homes are selling faster and for more money.
In the month of April, there were 92 homes listed for sale in Hanover Park. 36 properties closed. That gives us a 2.5-month supply of homes. Anything lower than a 4-month supply puts us in this sellers market.
Again, if you've been on the fence about selling your home in Hanover Park, it's time to get off. Give us a call at (630) 488-3300 and we can answer any questions you might have about our local market. We would be happy to help you leverage current conditions.