Real Estate Performance Review for Lake Zurich Announced by Herman Team

There was an increase of around 20% in the number of closed sales for both attached and detached homes, condos and townhomes in Lake Zurich for the year ending February 28, 2013.

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Deals on Illinois homes

Deals on Illinois homes

The months supply of inventory dropped by 27.2% for attached homes and 41.7% for detached homes.

(PRWEB) March 23, 2013

There was an increase of around 20% in the number of closed sales for both attached and detached homes, condos and townhomes in Lake Zurich for the year ending February 28, 2013. The number of closed sales for attached homes increased from 27 closed sales for the year ending February 29, 2012 to 33 closed sales for the year ending February 28, 2013. The number of closed sales for detached homes rose from 181 closed sales for the year ending February 29, 2012 to 213 closed sales for the year ending February 28, 2013. There was also in increase in the number of homes under contract. The number of attached homes under contract rose from 30 homes two years ago to 39 homes this past year, and the number of detached homes under contract increased from 182 homes for the year ending February 29, 2012 to 237 homes for the year ending February 28, 2013.

More good news showed that the number of days Lake Zurich homes stayed on the market decreased. The market time for attached homes for the year ending February 28, 2013 was 168 days, which represents a decrease of 57 days, and the market time for detached homes was 135 days, which shows a decline of 24 days. However, the number of homes for sale in Lake Zurich decreased over the past year for both attached and detached homes. The number of attached homes for sales for the year ending February 28, 2013 was 19 homes which represents a decrease from February 29, 2012’s figure of 21 homes. The number of detached homes for sale dropped from 153 homes for the year ending February 29, 2012 to 111 homes for the year ending February 28, 2013. The months supply of inventory dropped by 27.2% for attached homes and 41.7% for detached homes. The area also saw a drop in the number of new listings. The number of new listings for attached homes fell from 53 new listings two years ago to 61 new listings over the last year. The number of new listings for detached homes decreased from 413 new listings for the year ending February 29, 2012 to 349 new listings for the year ending February 28, 2013. There were mixed results for the median sales price for homes, townhomes and condos in Lake Zurich over the past year. The median sales price for attached homes rose from $185,000 for the year ending February 29, 2012 to $215,000 for the year ending February 28, 2013. Whereas, the median sales price for detached homes in the area fell from $258,000 for the year ending February 29, 2012 to $250,000 for the year ending February 28, 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. 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.


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