(PRWEB) June 21, 2013
The month of May 2013 showed an increase for the third year in a row for the number of closed sales on attached and detached homes, condos, and town homes in Palatine. The number of closed sale for attached homes increased from 43 closed sale in May 2011 to 51 closed sales in May 2012 to 70 closed sales in May 2013, and the number of closed sales for detached homes rose from 24 closed sales in May 2011 to 37 closed sales in May 2012 to 51 closed sales in May 2103. The month showed mixed results for the median sales price for attached and detached homes sold in the area. The median sales price for attached homes decreased from $140,000 in May 2012 to $85,750 in May 2013, while the median sales price for detached homes increased from $235,000 in May 2012 to $269,000 in May 2013. There were also mixed results for the market time on Palatine homes sold, as the number of days attached homes remained on the market increased from 116 days in May 2012 to 159 days in May 2013, and the number of days detached homes stayed on the market declined from 232 day in May 2012 to 69 days in May 2013.
There was however a decrease in May 2013 for the number of homes for sale in Palatine, the number of new listings, and the month’s supply of inventory, except for a slight increase in the number of new listings for detached homes. . The number of attached homes for sale dropped 62%, falling from 415 homes for sale in May 2012 to 155 homes for sale in May 2013, and the number of detached homes for sale in Palatine decreased 36% dropping from 278 homes for sale in May 2012 to 176 homes for sale in May 2013. The number of new listings for attached homes fell from 107 new listings in May 2012 to 72 new listings in May 2013, while the number of new listings for detached homes increased from 90 new listings in May 2012 to 105 new listings in May 2013. Lastly, the month’s supply of inventory for attached homes fell from 9.5 homes in May 2012 to 2.5 homes in May 2013 and the month’s supply of inventory for detached homes dropped from 9.6 homes in May 2012 to 4.0 homes in May 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