(PRWEB) April 15, 2013
There was a dramatic increase of 175% in the number of closed sales for home, condos, and townhomes in Long Grove. The number of closed sales rose from 4 closed sales in March 2012 to 11 closed sales in March 2013. This is good news considering the number of homes for sale actually dropped by 38.4% in March 2013. The number of homes for sale fell from 138 homes in March 2012 to 85 homes for sale in March 2013. After a slight decrease in the number of new listings last year, as the number fell from 24 new listings in March 2011 to 19 new listings in March 2012, there was an increase of 15.8% this year. The number of new listings rose from 19 new listings in March 2012 to 22 new listings in March 2013. Even though there was an increase in the number of new listings for March 2013, the decrease in homes homes, townhomes, and condos in Long Grove for sale, caused a decrease in the month’s supply of inventory for March 2013. The month’s supply of inventory dropped from 21.5 homes in March 2012 to 6.8 homes in March 2013. There was an increase last year in the median sales price for homes sold in the area, as the price rose from $650,000 in March 2011 to 671,000 in March 2012. However, this year the media sales price decreased by nearly 20%, as the price fell to $540,000 in March 2013. There was also an increase of almost 10% in the market time for homes for sale in Long Grove. The number of days homes remained on the market fell from 243 days in March 2012 to 267 days in March 2013.