Without any history of REO closed sales, December in Long Grove had a 30% increase in closed sale activity
Long Grove,IL (PRWEB) January 17, 2013
December 2012homes for sale in Long Grove had an increase in new listing and closed sale activity with a decrease in median price and market inventory. For the past three years there have not been an attached property for sale in the month of December. This year, December has 7 new listings that are detached properties including 6 traditional and 1 REO. There are no new short sale listings for the month of December 2012 in Long Grove. Without any history of REO closed sales, December in Long Grove had a 30% increase in closed sale activity. Also, since December 2010 the median price has decreased from an average of $800,000 to %628,250 for detached homes for sale in Long Grove. Last year the median price for detached homes for sale in Long Grove was $822,500. The monthly supply of inventory for detached properties has significantly dropped from 20.5 months in December 2010 to 17.9 months in 2011 and now in a low of only 7 months of inventory for December 2012. Supply in Traditional, REO and Short Sales decreased almost at an even 50%. The total amount of months of inventory for traditional properties for sale In Long Grove in December 2010 was at only 25.6 months. The total number of homes for sale in 2010 and 2011 was 118 detached properties and this year there is only 77 detached homes for sale in Long Grove. The number of Short Sale and REO homes for sale have also decreased by 50% over the last three years. For December 2012, Long Grove has 3 REO and 6 Short Sale homes for sale. The number of days a detached property is for sale on the market has dropped severely from an average of 491 days in December 2010 to 185 days December 2012. The significant decrease in the number of homes for sale versus the decrease in listing activity creates a very competitive market for homes in Love Grove.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.