Lake Zurich,IL (PRWEB) January 21, 2013
Attached properties in Lake Zurich have increased in monthly supply and median sales price along with maintaining the average amount of closed sales. Listing activity decreased for condos and townhomes along with detached properties for the month of December. In December 2010 new listings for attached homes were double what they are this year, which only had 3 new listings for December 2012.
The number of homes for sale in Lake Zurich decreased severely for detached homes and increased for attached homes. The amount of detached homes for sale last year had a total of 137 properties and this year the number is down to 77homes for sale in Lake Zurich. However, attached homes for sale have increased to 24 properties and back to the amount for sale three years ago. The total number of days Lake Zurich properties are on the market also dropped significantly for December 2012 in regards to the last three years.
The month supply of inventory this month is 50% less for both attached and detached properties in Lake Zurich. Attached properties have an average of 7.3 days on market while detached homes went from 9.3 months of inventory last year, to only 4 months for December 2012. The Median sales price of attached properties in Lake Zurich increased from $161,745 in 2010 to $224,950 this December. On the other hand, detached properties lowered from $269,000 last December to $244,050 for December 2012. The average median price of REO property in Lake Zurich is $160,000 this year, $65,000 less than December 2011.
Lake Zurich holds a consistent average of 2 closed sales for attached property and the detached property for December 2012 had 10 closed sales. Market time for attached properties in Lake Zurich has only an average of 38 days on market and detached property market time is at 102 days on market. It is clear from the statistics above that Lake Zurich is moving through a higher demand of attached homes than detached homes.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. Johns 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.