Real Estate Performance Review for Hoffman Estates Announced by John Herman

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There was a dramatic increase in the number of closed sales for attached and detached homes, townhomes, and condos in Hoffman Estates for the year ending April 30, 2013.

Deals on Illinois homes

Deals on Illinois homes

The year did show some improvement in the market time for attached and detached home, condos, and townhomes in Hoffman Estates.

There was a dramatic increase in the number of closed sales for attached and detached homes, townhomes, and condos in Hoffman Estates for the year ending April 30, 2013. The number of closed sales for attached homes rose by 61.1%, as the number increased from 18 closed sale for the year ending April 30, 2012 to 29 closed sales for the year ending April 30, 2013. The number of closed sales for detached homes increased by 95%, rising from 20 closed sales for the year ending April 30, 2012 to 39 closed sales for the year ending April 30, 2013. There was a slight decrease in the median sales price for both attached and detached homes sold in the area. The median sales price for attached homes fell from $71,000 for the year ending April 30, 2012 to $60,500 for the year ending April 30, 2013, and the median sales price for detached homes decreased from $245,075 for the year ending April 30, 2012 to $238,000 for the year ending April 30, 2013.

There was also a reduction in the number of homes for sale in Hoffman Estates, as the number of attached homes for sale dropped from 155 homes for the year ending April 30, 2012 to 89 homes for the year ending April 30, 2013, and the number of detached homes for sale fell from 184 homes for the year ending April 30, 2012 to 116 homes for the year ending April 30, 2013. The year did show an increase in the number of new listings for both attached and detached homes. The number of new listings for attached homes decreased from 46 new listings for the year ending April 30, 2012 to 47 new listings for the year ending April 30, 2013, and the number of new listings for detached homes dropped from 56 new listings for the year ending April 30, 2012 to 78 new listings for the year ending April 30, 2013. The was decrease, however, in the months supply of inventory for the year ending April 30, 2013. The month’s supply of inventory for attached homes dropped from 9.2 homes for the year ending April 30, 2012 to 3.1 homes for the year ending April 30, 2012, and the month’s supply of inventory for detached homes fell from 7.8 homes for the year ending April 30, 2012 to 3.4 homes for the year ending April 30, 2013.

The year did show some improvement in the market time for attached and detached home, condos, and townhomes in Hoffman Estates. The number of days attached homes stayed on the market declined from 108 days for the year ending April 30, 2012 to 67 days for the year ending April 30, 2013, and the number of days detached homes remained on the market. Whereas, the number of days detached homes remained on the market fell from 179 days for the year ending April 30, 2012 to 104 days for the year ending April 30, 2013.

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John Herman
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