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

The John Herman team has analyzed the monthly real estate in Schaumburg, Illinois and sellers are enjoying greater success over a year ago, according to the numbers for November 2013.

If no new homes came on the market, there are only enough homes to sustain the local market in attached homes for 2 months and for detached homes for 3 months. This is significantly down from November 2012 when there was a 5 month supply of attached homes and 4.1 months supply of detached homes. These are increases of 59.2% and 27.4% respectively.

There are more homes coming on the market though, with 63 new listings in single family attached homes in Schaumburg and 27 new single family detached homes being added to inventory. This is pretty flat for attached homes as there were 66 listed in November 2012. This is a 4.5% decrease. The margin was even smaller compared with November 2012 for detached single family homes, when 24 were listed. That’s a 12.5% increase in listings taken.

There were 135 attached single family homes in Schaumburg for sale in November 2013, compared with 272 in November 2012, a 50.4% decrease. In detached single family homes there were 130 for sale in and 106 for sale in November 2013, an 18.5% decrease.Prices were up for Schaumburg real estate. Attached home prices went up from $96000 in November 2012 to $117000 in November 2013, a 21.9% increase. In detached homes, there was a 30.2% increase in prices, from $230000 in November 2012 to $299.500 in November 2013.
The number of homes sold was almost even from November 2012 to November 2013. In attached homes there were 51 sold in November 2012 and 53 sold in November 2013. In detached homes there were 29 sold in November 2012 and 30 sold in November 2013.