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.