Schaumburg IL Homes - Housing Market Stats for April to June 2017
Looking for current and concise market information for Schaumburg IL Homes? You've come to the right place and I've actually been seeing a constant improvement over the last year. Interest rates have been low with great affordability and more and more people realizing that it's cheaper than rent.
Let's start talking about a few different market facets here - the months supply of inventory for Schaumburg IL Homes has been overall decreasing. We have 4% less in housing inventory then we did a year ago. Inventory levels have finally turned in the sellers favor!
Move-up buyers have been watching and waiting to move up to that larger home and also take advantage of these interest rates. Just one problem - some people are still in the red due to the last few years slow appreciation. Possibly the market has recovered in your area enough for you to make your move?
Another indicator that the Schaumburg IL market is improving is the number of homes that go under contract each month. In the first time home buyer price point under $275,000 there have been multiple offer situations on most properties. The market has heated up and buyers can't believe that this is truly happening. Lose out on a few homes and your strategy will have to shift.
I'm positive about the 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.
Please remember that during the past year we have transitioned from a balanced market neither favoring sellers or buyers to a sellers market. 'Some' selective homes have been flying off the market during our spring selling season. First time and move-up buyers are going to have a rough time with multiple offers which is happening more and more frequently. Buyers are no longer in control of the market.
What about those Days on Market? 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 that price. Does that include your home?
The graph on average prices does indicate that prices are on the rise but can change each month according to obvious sales.
If you are researching this update to possibly sell your Schaumburg IL Home, please email or call to discuss the advantages of my marketing abilities and getting your home turned to 'SOLD'.
If you are thinking of buying a Schaumburg IL Home, I will act as your advocate for your purchase. An experienced veteran, like myself, can advise a strategy and help you take advantage of current buying trends.