Schaumburg IL Area Real Estate Market Update - May 2017

Real Estate Agent with RE/MAX Suburban

Real Estate Market Update - Northwest Suburbs near the Schaumburg Area - May 2017

This is the place to get all your real estate questions answered!

What are Prices Doing?  Average sales prices are increasing slightly and across thelyn sims schaumburg real estate board. Every subdivision is responding differently if and 'when' a home in the area goes on the market. I would say that sellers are now pretty happy with prices or have decided that now is a good time to move along.

With our decreased amount of inventory for May we are definitely in a sellers market based on past statistics. From Feburary to May it's been as low as it's ever been. It's been between 20% to 50% from 2016. With this low inventory the market will turn toward the sellers favor with price increases. In May, I have seen multiple offers on my listings netting the seller more than expected.

If your home is currently on the market for 30 days or more, current buyers are telling you something & you best listen. They are giving you feedback either on your condition, your price, or your location. With inventory this low there is no reason not to get an offer but buyers are not going to pay your price if you've got too much work or deferred maintenance.  They will just step over your carcass as they head towards another home with a better price or more updates for the price.

lyn sims schaumburg real estate


lyn sims schaumburg real estateLook for an agent that can connect the dots?

Look for an agent that knows the market?

Contact me with questions on your neighborhood for current market details so you can make an informed decision.

Hey, want your home to sell faster?  Let my experience help guide you along the way.


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lyn sims remax suburban  Lyn Sims    Schaumburg IL Area    Northwest Chicago Suburbs  ●  (847)230-7324

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Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

Very good information, put in context for sellers.  If they haven't sold in 30 days, the market is speaking.

Jun 25, 2017 04:57 PM #1
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Lyn Sims

Schaumburg IL Real Estate
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