(PRWEB) April 23, 2013
There was an increase of nearly 10% in the median sales price for homes, condos, and townhomes in Fox River Grove.
The median sales price for detached homes has increased for the third straight year, as the price rose from $190,000 in March 2011 to $196,000 in March 2012 to this year’s median sales price of $215,000 for March 2013. The number of closed sales remained steady at 5 closed sales for March 2012 and March 2013, which represents an increase from March 2011’s figure of 3 closed sales. There were no closed sales for attached homes for the month of March 2013. There was a significant decrease in the number of homes for sale in Fox River Grove as the number of attached homes for sale fell from 13 homes in March 2012 to 1 home in March 2013, and the number of detached homes for sale dropped from 40 homes in March 2012 to 30 homes in March 2013.
There were mixed results for the number of new listings for homes in the area. The number of new listings for attached homes fell from 2 new listings in March 2012 to no new listings for the month of March 2013. Whereas the number of new listings for detached homes rose from 11 new listings in March 2012 to 12 new listings in March 2013. The drop in the number of homes for sale led to a reduction in the month’s supply of inventory for both attached and detached homes, townhomes, and condos in Fox River Grove. The month’s supply of inventory for attached homes fell from 13 homes in March 2012 to 0.6 homes in March 2013 and the month’s supply of inventory for detached homes declined from 7.7 homes in March 2012 to 4.5 homes in March 2013. There was also an increase in the market time for detached homes sold, as the number of days homes in the area remained on the market rose from 159 days in March 2012 to 265 days in March 2013.
Welcoming his 12th year of Real Estate experience,John Herman effectively turns buyers into owners, and closes listings successfully with Barrington Real Estate, Illinois. Clients are quickly referred to as guests in his home market, welcoming everyone to his performance standards uniquely separating him from the competition. John's diligent work with clients earned him a 2011 Five Star Professional Award. As a daily hard working Realtor, John has made it in the top 7% of Real Estate agents granted this award. With his Masters Degree, John is also certified in Foreclosure and Short Sale transactions along with certification as an Accredited Home Buyer Representative. John and his team are localized experts with over 20 years of real estate experience within the beautiful area of Chicago. John Herman controls the necessary actions to position the right inspector, plumber, or resourceful help needed to close every deal properly.