December 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 December 2013 real estate performance review in Cary, Illinois real estate.

Attached homes showed a 350% increase in sales from December 2012 to December 2013, with only 2 being sold in 2012 and 9 being sold in 2013. Detached homes, on the other hand, showed a 33.3% decrease. In December 2012 there were 27 sold and in December 2013 just 18.Inventory was slightly down in both attached and detached homes from December 2012 to December 2013. In 2012 there were 36 attached homes for sale, and in December 2013, 29. In detached homes there were 138 for sale in December 2012 and 110 for sale in December 2013. This is 20.3% fewer homes. This sign of a market that is moving briskly.

This is further evidenced by the fact that time on the market was less in both categories. In December 2012 attached homes were e on the market an average of 95 days, while in December 2013 they moved off the market in just 50 days, a 46.9% decrease in time on the market. For detached homes the average time on the market in December 2012 was 144 days, while in December 2013 homes moved in just 65 days, a 54.6% decrease in Cary,IL houses.

The month’s supply further supports the fact things are moving more quickly. In December 2012 there was a 9.2 month supply of attached homes, while in December 2013, this number dropped to a 4.1 month supply, a 55.5% decrease. Similarly, for detached homes, in December 2012 there was a 6.9 month supply of homes, and in December 2013 this dropped 47.2% to 3.6 months.

Prices did not show much movement for the same period a year ago. In December 2012 the median price of attached property in Cary, Illinois was $104,000, while in December 2013 this increased 10.6% to $115,000. For detached properties, the median price in December 2012 was $170000, while in December 2013 this dropped slightly to $156,000, a small 8.2% decrease.

Sellers are responding to this information and listing their detached homes, while the number of attached listings for the same period was down slightly. In December 2012 9 attached properties came on the market, while in December 2013 just 7 were listed, a 22.2% decrease. In detached homes, in December 2012 17 were listed, while in December 2013 26 were listed, a 52.9% increase in inventory.