The number of homes for sale fell from 28 homes for sale in May 2011 to 21 homes for sale in May 2012 to finally 10 homes for sale in Deer Park for the month of May 2013.
(PRWEB) June 11, 2013
There was a dramatic increase of 250% in the number of closed sales for homes, townhomes, and condos in Deer Park for May 2013. The number of closed sales has actually risen for the third straight year, increasing from 1 closed sale in May 2011 to 2 closed sales in May 2012 to this year’s total of 7 closed sales for the month of May 2013. The month did, however, reveal a decrease in the median sales price for homes sold in the area, as the price dropped from $621,200 in May 2012 to $460,000 in May 2013. There was also a decrease in the number of homes for sale for three years in a row. The number of homes for sale fell from 28 homes for sale in May 2011 to 21 homes for sale in May 2012 to finally 10 homes for sale in Deer Park for the month of May 2013. After seeing a slight rise last year in the number of new listings for homes for sale, as the number rose from 6 new listings in May 2011 to 9 new listings in May 2012, this year number dropped back down to 6 new listings for May 2013.
This reduction in the number of homes for sale in Deer Park and number of new listings forced the month’s supply of inventory to also drop for the month of May 2013. The month’s supply of inventory fell from 11.1 homes in May 2012 to 2.3 homes in May 2013. There was a slight increase last year in the market time as the number of days homes remained on the market rose from 323 days in May 2011 to 340 days in May 2012. However, this year the market time saw a significant improvement of 72.3%, as the number of days homes remained on the market dropped to only 94 days for the month of 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 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.