Hoffman Estates Sales Not Stalling during Pandemic

By
Real Estate Agent with RE/MAX Suburban

 

Here's the things you will need to know if you are planning on selling in Hoffman Estates. Here's a few graphs to help give you an idea.

What is the percentage of homes that are going under contract each month in hoffman estates IL home salesHoffman Estates? This tells you if the 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 Hoffman Estates? 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.


 
hoffman estates home sales


  
How many days does it take for an average home in Hoffman Estates to sell?  Thishoffman estates IL home sales tells you exactly how long a home 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 Hoffman Estates 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.

 

hoffman estates home sales

So a 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 Hoffman Estates 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 Hoffman Estates, 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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Rainmaker
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Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Lyn. Chicago is so big that niches have there own story. And there are so many stories. Enjoy your day! 

May 24, 2020 05:12 AM #1
Rainmaker
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Sally Crane
WMS - Unity, WI
Woodland appraisal support.

Thanks for the update Lyn, all the best to you as you get many of these properties listed and sold.

Sally

May 28, 2020 01:19 AM #2
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Rainmaker
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Lyn Sims

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