(PRWEB) June 15, 2013
There was an increase for the third straight year in the median sales price for homes, condos, and townhomes in Long Grove for the month of May 2013. The median sales price rose from $545,000 in May 2011 to $584,600 in May 2012 to this month’s figure of $675,000 for May 2013. There was also an increase of 36.4% in the number of closed sales for homes sold in the area, as the number of closed sales rose from 11 closed sales in May 2012 to 15 closed sales in May 2013. After seeing a slight increase in the number of homes for sale in the area last year, as the number rose from 124 homes for sale in May 2011 to 136 homes for sale in May 2012, this year’s figure dropped to 90 homes for sale in Long Grove for the month of May 2013.
There was, however, a sharp increase in the number of new listing for home for sale in Long Grove, as the number rose from 26 new listings last May 2012 to 46 new listings this May 2013. This represents an increase of 76.9%. Despite this influx of new listings for the month, the month’s supply of inventory declined by 11.3% this year. Actually, the month’s supply of inventory has dropped for the third year in a row, as the number fell from 18.6 homes in May 2011 to 18.5 homes in May 2012 to 7.1 homes in May 2013. The city’s statistics have shown steady improvement in the market time for homes, townhomes, and condos over the last three years. As the number of days homes remained on the market fell from 377 days in May 2011 to 207 days in May 2012, to this year’s market time of 184 days.
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 Master's 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.