The amount of closed sales for attached homes increased to 33 properties, more than doubling the total of closed sales last year.
Hoffman Estates,Il (PRWEB) January 29, 2013
Homes for sale in Hoffman Estates increased in the amount of closed sale activity for the month of December 2012. Condos and Townhomes for sale in Hoffman Estates along with detached homes, greatly decreased in median sales price. Hoffman Estates also decreased in number of new listings, its months supply of inventory, and the average amount of time properties are on the market. The amount of closed sales for attached homes increased to 33 properties, more than doubling the total of closed sales last year. The closed sales activity for detached homes in Hoffman Estates in December 2012 has kept its average from last year's total of 24 sales. With the increase in the number of attached home sales, REO sales doubled from last year and Short Sales total amount sold also increased. Median sales price of Hoffman Estates homes decreased from $75,000 last year to $65,000 for attached properties, and from $256,00 to $206,000 for detached properties. However, the median price for Short Sales increased from $78,000 last year to $145,000 for December 2012. The amount of new listings for condos and townhomes, along with detached homes in Hoffman Estates both decreased by 8 listings from last year. Traditional listings for homes for sale in Hoffman Estates are close to the 3 year average. The amount of new listings for Short Sales decreased by 50% for the month of December 2012. Hoffman Estates month supply of inventory dropped for both attached and detached properties by more than 50% from last year. Traditional homes monthly inventory dropped from 9.2 months last year to 3.1 months year along with REO and Short Sale supply decreasing by more than 50%. The amount of market time for Short Sale properties in Hoffman Estates also decreased greatly from 342 days in December 2011 to only having an average of 84 days on the market for December 2012. Market time for REO homes also decreased by half while traditional listed homes lowed by 22%.
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