Schaumburg Homes | Schaumburg IL Real Estate | Housing Market Info January to March 2017
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 information.
Let's talk about a few key market facets here like the inventory supply for Schaumburg Homes has been steadily decreasing. We have 16% less in housing inventory then we did a year ago. Currently we are at the lowest inventory level I have seen in 30 years.
An excellent indicator that the Schaumburg housing market is continuing to accelerate is the percentage of homes that go under contract each month. Currently we are around 32% for homes. Even though inventory has decreased, homes going under contract have kept at a level pace!
What about the Days on Market? That is currently a little confusing at 95 to 139 days. Most homes are selling quickly within 30 days. There will always be some homes that take longer. If your home has not sold within the first 30 days I would say that buyers are telling you your price is too high or they do not like your condition for the price. Buyers do not want to do any work or do the least amount for the price. Does that include your home?
I'm positive about our market in Schaumburg and you should be too! It's been constantly improving from the number of homes that go under contract each month to the average sold prices. It has been a long road and an uphill struggle to see the prices inch upwards but increases are here none the less.
Please remember that during the past year we have transitioned from a balanced market neither favoring sellers or buyers to a sellers market. Homes should be flying off the market (don't look at those market times ...) in our full spring selling season. First time and move-up buyers are going to have a rough time with multiple offers which is happening now more and more frequently. Buyers are no longer in control of the market.
If you are thinking of buying a home in Schaumburg, I will act as your advocate and buyers agent for your purchase. An experienced veteran, like myself, can steer you around all those rough patches, advise a strategy and help you take advantage of current buyer trends.
If you are researching this update to sell your Schaumburg 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.