Property Up reveals vital data about the state of Schaumburg real estate market in December 2019. The market slightly favors the sellers.
Schaumburg, IL, December 3, 2019
Property Up, a leading real estate agency serving the greater Chicagoland area, provides data on how much time it might take Schaumburg sellers to sell their homes, the various types of properties on the market, and other critical indicators regarding the buyer and seller behavior in Schaumburg.
Currently, there are 481 total homes for sale in Schaumburg. Of those, 103 are single-family homes, and 164 are condos.
Among those, there is a wide array of choices available to buyers. There are 15 homes with pools, and another 16 are waterfront, for buyers who enjoy activities on the water.
For investors, or those looking for deals, there are 40 below market deals and 11 short sale properties available in Schaumburg.
At the beginning of December 2018, one year ago, there were 391 homes available on the market. While the market slightly favors sellers, buyers have more choices in 2019.
If the market trends remain consistent, Property Up expects that it would take approximately 4.53 months to sell all the current properties that are on the market in Schaumburg.
One of the indicators that favor sellers is that in November 2019, 6 buyers paid more than the asking price for their Schaumburg homes. Any time a buyer pays more than what the seller asking, it could potentially mean that sellers are receiving multiple bids on their properties.
Another trend that might be of interest to sellers is that buyers seem to be favoring condos over single-family homes in Schaumburg. In November, 33 condos were sold, compared to 22 single-family homes.
However, single-family homes sold a bit faster than condos. During November, condos were on the market for an average of 38 days, compared to 33 days for single-family homes.
However, the sellers would be happy to learn that the median sold price (the midpoint price of all homes sold in November in Schaumburg) went up from $232K in October to $244K in November.
Buyers, on average, can expect to get the following in the Schaumburg real estate market in December 2019 depending on their budget.
In the lower price range, between $89K to $166K, buyers can expect to get 1.9 bedrooms, 1.3 bathrooms, and approximately 1029SF of space.
In the medium price range, between $166K to $472K, buyers can get 2.9 bedrooms, 2 bathrooms, and 1739SF of space.
Finally, in the higher price range, between $472K to $700K, a buyer will get 4 bedrooms, 3.6 bathrooms, and around 3843SF of space.
Property Up is a trusted real estate agency serving the entire Chicagoland area and they have been helping people from all walks of life find their dream homes for over 12 years.