Schaumburg Houses are Selling during Pandemic

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Real Estate Agent with RE/MAX Suburban

Here's the things you will need to know if you are planning on selling. Here's a few graphs to help give you an idea on how the market is currently doing in Schaumburg.

What is the percentage of homes that are going under contract each month in Schaumburg? This tells you if schaumburg home pricesthe market is flat, going up or declining based on homes going under contract. It shows you the 'action' that buyers are taking in the market.

 

How many other homes are for sale in Schaumburg? This is called the months of inventory level. The lower the level of homes on the market the better the market is for a seller. Currently we have been in a sellers market for quite some time. Inventory fluctuates per month and is usually the highest in the spring months.
 

schaumburg home sales

  
How many days does it take for an average home in Schaumburg to sell?  This tells you exactly how long a schaumburg days on markethome sale took from 1st day on market to contract acceptance. I think that many people will be shocked to see the higher numbers. Some homes sell quickly while others take longer to sell.

So let's talk about Covid-19 & how it is effecting the Schaumburg market. So far the market has been slower but steady. The market did do a dip with showings but once we got a handle on precautions & how they were going to take place, we were back selling again. Some sellers were concerned & did decide to take their homes off the market. You can see in the graph when the quarantine went into effect & how the market has since rebounded.

  

schaumburg real estate COVID

A very good thing for our area is that we have low market inventory. Buyers are still clamoring for a house to buy as interest rates are sensational. The market dictates when there is too much inventory, prices usually fall. We are not set for that happening currently. There are a few buyers that have taken a break, just like sellers, being sure when things open up again their jobs are stable. Buyers are moving with caution but not showing fear over the purchase process itself.


 
lyn simsIf you are researching this update to sell your Schaumburg home this is just a small sampling of a complex process.  All your questions will be answered & just how things are going to work phase by phase. Your comfort level in the process is my utmost concern. Please contact me & we'll discuss the advantages of my marketing program putting your home front & center. Let's get your home 'SOLD' and you on your way to your new location.



If you are thinking of buying a home in Schaumburg, I can 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. Do you know what trends are currently happening? I do.

 

 

 

 

 

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lyn sims remax suburban  Lyn Sims    Schaumburg IL Area    Northwest Chicago Suburbs  ●  (847)230-7324
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Ambassador
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Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Hi Lyn- good report!   This is exactly the kind of information that buyers and sellers are interested in. 

May 22, 2020 06:05 PM #1
Rainmaker
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Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Lyn. Slower but steady. Sellers need to sell and buyers need to buy. Thanks for the facts. Enjoy your day.

May 23, 2020 05:20 AM #2
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Lyn Sims

Schaumburg Real Estate
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