The median sales price for homes sold in Long Grove has risen over the past three years, as it went from $485,000 in July 2011 to $524,000 in July 2012 to $620,000 in July 2013
(PRWEB) August 24, 2013
The John Herman Team is pleased to announce the July 2013’s real estate performance review results for homes in Long Grove.This month showed a 18% increase in the median sales price for homes sold in this community.
The median sales price for homes sold in Long Grove has risen over the past three years, as it went from $485,000 in July 2011 to $524,000 in July 2012 to $620,000 in July 2013. While the median sales price increase, the number of closed sales remained steady this month at 15 closed sales for July 2012 and July 2013, which is significantly better than July 2011’s figure of six closed sales.
The Illinois real estate performance review for Long Grove also showed a decrease in the number of homes for sale and the number of new listings. The number of homes for sale has fallen for the past three years, going from 139 homes in July 2011 to 126 homes in July 2012 to 100 homes in July 2013. The number of new listings saw a more dramatic decrease as the number fell from 19 new listings in July 2012 to 35 new listings in July 2013.
Just as with the number of homes for sale, the month’s supply of inventory for Long Grove homes for sale has also fallen steadily over the past three years. The month’s supply of inventory dropped from 20.3 homes in July 2011 to 15.1 homes in July 2012 to 8.2 homes in July 2013. There was some encouraging news as the month showed an improvement of 20% in the market time for homes sold in the area. The number of days homes remained on the market has decreased for the past three years dropping from 176 days in July 2011 to 158 days in July 2012 to this month’s total of 127 days in July 2013.
About John Herman:
John Herman Hometown Real Estate is considered the Best Barrington real estate broker who serves the entire city of Barrington and its surrounding areas. He has more than twelve years of experience in the local real estate market and is dedicated to providing his clients with exceptional services that assist them in obtaining the right home, for the right price. He holds a Master’s Degree as well as an Accredited Buyer Representative Certification, a Short Sale Foreclosure Resource Certification, and is an Equator Short Sale Certified Platinum Member. His decade long commitment to providing each customer with individualized and prompt customer services has earned him the Five Star Professional Award for the past three years. In fact, his customer service ratings were so high, that John Herman has been ranked among the top 2% of real estate agents in the Greater Chicago Area. This distinguished honor speaks volumes about his strong commitment to his clients and his dedication to providing optimal services.