November 2013 Real Estate Performance Review for Fox River Grove, Illinois by The John Herman Team

The John Herman Team is pleased to release the latest results for the November 2013 real estate performance review in Fox River Grove properties and it appears that for the most part the market is almost the same as last year with very little change from November 2012 to November 2013 statistics with one important exception: detached homes are selling for 36.5% more money.

In November 2012 the median price of a detached home in Fox River Grove was 162,659, while in November 2013, the median price was $222000. This is great news for sellers. On the other hand, prices for attached homes were down just a bit with a 13.9% decrease. In November 2012 the median price of an attached home was $115000, and in November 2013 it was $99000.

The number of homes was almost the same from one year to the next. In November 2012 there were 3 attached homes for sale, and in November 2013 there were 2. In November 2012 there were 38 detached homes for sale, and in November 2013 there were 36, just 2 less, or a 5.3% decrease.

The numbers of new listings taken were exactly the same as a year ago in both detached and attached homes. There was 1 attached property listed in both November 2012 and 2013. There were 8 detached homes listed in November 2011, 2012 and 2013.Months of supply were slightly down for both, but not significantly so. There was a decrease from 1.8 months supply in November 2012 to 1.5 month supply in 2013. For detached homes there was a greater span.

In November 2012 there was 6.7 months supply and in November 2013 there was a 4.6 month supply, or a 30,7% decrease.Number of homes sold was flat, with 1 attached home sold in both November 2012 and in November 2013, and 4 detached homes sold in 2012 and 2013.

The market in Fox River Grove homes was flat from the period a year ago, but the simple fact that homes are selling for more, show a market on the upswing a great time to sell.

November 2013 Real Estate Performance Review for Inverness, Illinois by the John Herman Team

The John Herman team has analyzed the statistics for the Inverness, Illinois real estate market and has concluded that it is a mixed market, with less inventory, flat sales numbers, and slightly lower prices. This means it is not a clear cut buyers’ or sellers’ market, and good opportunities are open for both depending upon the property and circumstances.

For instance, detached homes are selling much faster, according to the November 2013 numbers, with 70 days being the average days on the market, which is 84% less than a year ago when the time on the market was 439 days. However, prices were down a little, with $658500 being the average price in November 2012, and $563000 the average price in November 2013, a 14.5% decrease. There were no attached homes sold in Inverness during November 2013.

The months of supply, for both attached and detached homes in Inverness, was slightly down. In attached homes the difference was very small from 3.9 months supply in November 2012 to 3.6 months supply in November 2013, am 8% decrease. For detached homes, there was a 9.2 month supply in November 2012, and 8.1 month supply in November 2013, a 12% decrease. The number of homes on the market was up from 9 to 10 for attached homes from November 2012 to November 2013. There were 65 detached properties available for sale in November 2013, and 80 for sale in November 2013, a 18.8% decrease.

The number of new listings was doubled from 2 to 4 for November 2013 in attached single-family homes, and even for detached homes with 13 listed in November 2012 and November 2013.The number of homes sold was down from 8 in November 2012 to 5 in November 2013 for detached homes. There were no attached homes sold in November 2013 and just 1 in November 2012 in Inverness, Illinois houses.

November 2013 Real Estate Performance Review for Cary, Illinois by the John Herman Team

The John Herman Team is pleased to release the latest results for the November 2013 real estate performance review in Cary homes and reports that prices are going up on both attached and detached homes compared with a year ago. In November 2013, the average price of an attached home was $120000, compared with $77,500 in November 2012. This is a 54.8% increase. For detached homes the rise in prices was even higher, at $270000, compared with $169750 from a year ago, a 59.1% increase.

It is taking slightly longer on the market to get those higher prices, however. Attached homes in Cary are staying on the market just a bit longer at 122 days, compared with 118 last year, a 3.6% increase. Detached homes were on the market 153 days in November 2013, and just 121 days in November 2012, a 26.2% increase.

On the other hand, inventory is down overall, with just a 3.8 month supply in both attached and detached properties. In November 2012, however, there was a 10.6 month supply of attached homes (64.3% decreases) and a 7.6 month supply of detached homes, a 50.5% decrease. This is supported by listings that were even at 8 in November 2012 and November 2013 for attached properties, and 18 new listings in November 2013 compared with 24 in November 2012, a 25% decrease.There are also less listings on the market overall in Cary. There were 29 attached homes available in November 2013, compared with 38 in November 2012, a 23.7% decrease. There were 114 detached homes in Cary available, compared with 153 in November 2012, a 25.5% decrease.
Sales were on the increase in attached homes, with 9 sold in November 2013, and 6 in November 2012, a 50% increase. However, there were 45.8% less detached homes sold in November 2013, with 13 reported, compared with 24 in November 2012.

The overall market is strong, with higher prices, and brisk sales, pointing to a good time to sell, with more inventory needed to keep up with demand.

November 2013 Real Estate Performance Review for Inverness, Illinois by the John Herman Team

The John Herman team has analyzed the statistics for the Inverness, Illinois real estate market and has concluded that it is a mixed market, with less inventory, flat sales numbers, and slightly lower prices. This means it is not a clear cut buyers’ or sellers’ market, and good opportunities are open for both depending upon the property and circumstances.

For instance, detached homes in Inverness are selling much faster, according to the November 2013 numbers, with 70 days being the average days on the market, which is 84% less than a year ago when the time on the market was 439 days. However, prices were down a little, with $658500 being the average price in November 2012, and $563000 the average price in November 2013, a 14.5% decrease.

There were no attached homes sold in Inverness during November 2013.The months of supply, for both attached and detached homes, was slightly down. In attached homes the difference was very small from 3.9 months supply in November 2012 to 3.6 months supply in November 2013, am 8% decrease. For detached homes, there was a 9.2 month supply in November 2012, and 8.1 month supply in November 2013, a 12% decrease.

The number of homes on the market was up from 9 to 10 for attached homes from November 2012 to November 2013. There were 65 detached properties available for sale in November 2013, and 80 for sale in November 2013, a 18.8% decrease.The number of new listings was doubled from 2 to 4 for November 2013 in attached single-family homes, and even for detached homes with 13 listed in November 2012 and November 2013.
The number of homes sold was down from 8 in November 2012 to 5 in November 2013 for detached homes in Inverness. There were no attached homes in November 2013 and just 1 in November 2012.

November 2013 Real Estate Performance Review for Hoffman Estate, Illinois by The John Herman Team

The John Herman Team has analyzed the real estate industry facts for Hoffman Estate homes comparing November 2012 and November 2013 and has released their findings.

There is a lot of promising news in the report, showing that prices are up, time on the market, homes for sale and months of supply are all down.

In November 2012 the average price of an attached home in Hoffman Estate was $70000, in November 2012 it was $96,450, a 37.8% increase. Likewise, in detached homes, the price rose from $174550 in November 2012 to $250000 in November 2013, a 43.2% increase. It is further promising that it took less time than a year ago to get these prices. The average days on the market in November 2013 was 58, compared with 134 in 2012, a 56.8% decrease. For detached homes, there was an astounding 80.5% decrease in time on market, with 198 days in November 2012 and just 39 days in November 2013.

Supply is also down, with just 1.9 months supply of attached homes, compared with 4.9 months supply in November 2012, a decrease of 61.3% of market time. For Hoffman Estate detached homes, the numbers follow this trend as well with 2.4 months supply, compared with 6.1 months in November 2012, a 60.% decrease.
While new listings were brisk, they could not hold up to a year ago for attached homes. In November 2012 there were 30 new properties listed, compared with 20 in 2013, a 33.3% decrease. In detached homes, there were 6 more homes listed than last year with 45 being listed, compared with 39 for 2012. This represents a 15.4% increase.

Sales were down just a bit for both attached and detached homes. There was a 31% decrease in sales for attached homes with 29 sold in November 2012, and 20 sold in November 2013, a 31% decrease. For detached homes, there was a drop from 36 in 2012 to 27 in 2013, a 25% decrease.

Analyzing these numbers shows that homes are selling for more, in less time, and that more supply is needed.

November 2013 Real Estate Performance Review for Barrington Hills by the John Herman Team

The John Herman Team is pleased to release the latest results for the November 2013 performance review in Barrington Hills, IL real estate . The report shows mixed results with the most significant statistic, the number the closed sales, which is more than triple the number of homes sold for the same period last year.

In November 2013 there were 11 properties sold in Barrington Hills houses, versus only 3 sold in both November 2011 and 2012. This indicates we are heading toward a stronger sales market. Also on the upswing was the average price of homes sold, with a 3% jump in price with an average of $762,500 compared with an average price of $740,000 in November 2012. However, what is more significant is that in November 2011, the average sales price was $545,000. This shows significant market recovery, and that sales prices are realigning.

However, even though more homes were sold, and prices are up, overall time on the market was up by 55.3% from November 2012. The average time on the market for November 2013 was 258 days, while the average time on the market a year ago was 166 days. This means in order to get the higher price points, sellers are having to wait a little longer, but in the end, homes are selling for more.

At the same time, there are 20% more homes for sale in Barrington Hills than for the same period last year. In November 2013 there were 102 homes available, while in November 2013 only 85 homes were on the market. This is not a significant number, and most likely indicates that sellers are taking advantage of this being a good time to list and they are willing to wait for an acceptable price.Not surprisingly, with more homes on the market, there is an increase in months of supply.

In November 2013, based on available homes in Barrington Hills and length of time it is taking to sell, there was a 23.1 month supply of homes, as compared with a 14.8 month supply a year ago. This is a 56.2% increase. Again, this is most likely due to sellers jumping onboard in recent months and finding this is a good time to list. This proves true as there was a 33.3% increase in number of homes listed compared with November 2012.
The analysis of all of these numbers boils down to this: Sellers are confident in the market and are listing their homes, they are willing to wait a little longer for a good price, and buyers will benefit from the good selection available and have longer to shop without having to make quick decisions.

November 2013 Real Estate Performance Review for North Barrington by the John Herman Team

The John Herman Team is pleased to release the latest results for the November 2013 real estate performance review in North Barrington,IL homes and the report shows that prices are on the rise.According to the latest report the median price of a home in North Barrington was up 64.7% from a year ago. In November 2012 the average price was $525,000 and in November 2013 it was reported at $864,500. That is a significant increase and good news for sellers.

Another indication of a strong market is the number of homes in North Barrington on the market. In November 2013 there were 40 homes on the market, and in November 2012 there were 54. This is a 25.9% decrease. Fewer inventories means more demand, another sign of strength, and a good time to sell.Another supporting statistic for strong demand is that there is currently just a 7.5 month supply of homes on the market, versus last year when there was 11.6 month supply. This is a 35.2% decrease. More inventories is needed and this holds true in that listings were slightly down for the same period a year ago when 5 new listings hit the market, and in November 2013 there were 4 homes, a 20% decrease.

Coincidentally there were also 5 homes sold in November 2012 and 4 homes sold in November 2013, which matches the number of homes listed. Length of time on the market was almost flat, with a 2.5% increase. Average time on the market in November 2012 was 711 days, and in November 2013 it was 728 days.The overall analysis of these numbers indicates that it is a good time to sell and that buyers need to be ready to strike if they see a home they like in North Barrington properties.

November 2013 Real Estate Performance Review for Tower Lakes, Illinois by The John Herman Team

November 2013 Real Estate Performance Review for Tower Lakes, Illinois by The John Herman Team

The John Herman team has analyzed the monthly real estate for Tower Lakes, Illinois and the conclusion is that comparing numbers from November 2012 and November 2013 the market was flat.In November 2012 9 homes were for sale, and in November 2013 there were 11 homes available, a 22.2% increase.There was no significant change in inventory supplies either, with 6 months of inventory available in November 2012 and 6.6 months available in November 2013, a 10% increase.There were no sales reported for Tower Lakes in November 2013, and 1 reported in November 2012.

November 2013 Real Estate Performance Review for Palatine, Illinois by the John Herman Team

The John Herman team has analyzed the monthly real estate states for Palatine, Illinois and the conclusion is that more homes are needed to satisfy demand. Every category points to a strong market for sellers, and that buyers are quickly purchasing the homes that appeal to them.

The most supportive statistic is the average days on the market from November 2012 to November 2013, which is down from 199 to 60 in attached homes, (a 69.8% decrease) and from 113 to 87 days for detached properties in Palatine, a 23.5% decrease.This is also evident by the number of homes on the market, which is also down from November 2013 to November 2012. During that period there were 300 attached homes for sale in 2012 and just 145 in November 2013, a 51.7% decrease in inventory. Likewise, there were 213 detached homes for sale in November 2012 and 166 in November 2013, a decrease of 22.1%.

Also coinciding were stats on months of supply which is way down in both detached and attached homes. In November 2012 there was 5.9 months supply of attached single-family properties, and in November 2013 there were just enough homes on the market to last 2.3 months. That is a 60.4% decrease. For detached houses in Palatine, there was 6.4 months supply in November 2012, and just a 3.5% supply in November 2013, a 46% decrease.Buyers are also paying more for homes, with prices on the increase in both attached and detached Palatine properties. The average price of an attached single-family property went up from $75000 in November 2012 to $88625 in November 2013, a 18.2% increase. Detached homes saw an even larger proportional increase, going from $246500 in November 2012 to $325000 in November 2013, a 31.8% increase.

Closed sales for the November period were down for attached homes from 53 in 2012 to 44 in November 2013, a 17% decrease. However, there was a 38.7% increase in detached properties.Finally, the number of new listings taken, was down a bit for attached homes, fro 69 taken in November 2012 and 58 listed in November 2013, a 15.9% decrease. New listings were flat for detached homes, with 43 taken in November 2012 and 44 taken in November 2014.

November 2013 Real Estate Performance Review for Long Grove, Illinois by the John Herman Team

If you have a home to sell, now is a great time to list, as inventory is not keeping up with supply with available properties in Long Grove, Illinois, according to the John Herman Team. In addition prices are on the rise, so sellers can expect to get a good price for their home, and since time on the market is also down, they will sell more quickly.

Statistics show that in November 2013 the average price of a home sale in Long Grove, was $779,000, as opposed to November 2012, when the median price was $545000. This is a 42.9% increase. The numbers reported also show that it took less time for sellers to sell their properties with the average days on the market in November 2013 reported at 148, down from 182 for a similar period in 2012.
The supply of homes was also down to 5.7 months worth of inventory, down from 9.7 a year ago, a 41.3% decrease. This is supported by the fact that in November 2013 there were only 70 houses for sale in Long Grove, where there were 95 for sale in November 2012. This is a 26.3% decrease. Replenishing the inventory was down in November 2012 as only 9 homes were listed. In November 2012 11 were listed. This is an 18.2% decrease.There were 11 homes reported sold in November 2013, and 13 reported sold in November 2012, a decrease of 15.4%.

The John Herman team has analyzed these numbers and summarizes that it is a great time to sell. Inventory is needed and buyers should be ready to make a decision if they see a home they like. As always, contact the John Herman team for expert advice in buying or selling in Long Grove houses.