Real Estate Performance Review for Palatine Announced by Herman Group

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There was an increase in the number of closed sales for both attached and detached homes, condos, and townhomes in Palatine.

Deals on Illinois homes

Deals on Illinois homes

The number of closed sale for detached homes also increased from 289 closed sales for the year ending February 29, 2012 to 419 closed sales for the year ending February 28, 2013.

There was an increase in the number of closed sales for both attached and detached homes, condos, and townhomes in Palatine. The number of closed sales for attached homes increased from 483 closed sales for the year ending February 29, 2012 to 593 closed sales for the year ending February 28, 2013. The number of closed sale for detached homes also increased from 289 closed sales for the year ending February 29, 2012 to 419 closed sales for the year ending February 28, 2013. The number of homes under contract also increased, as the number of for attached homes rose from 532 contracts for the year ending February 29, 2012 to 692 contracts for the year ending February 28, 2013, and the number for detached homes increased from 307 contracts for the year ending February 29, 2012 to 452 contracts for the year ending February 28, 2013. This is encouraging news, especially since the number of homes for sale in Palatine decreased for both attached and detached homes. The number of attached homes for sale decreased for 515 homes for the year ending February 29, 2012 to 318 homes for the year ending February 28, 2013, and the number of detached homes for sale fell from 282 homes in February 29, 2012 to 226 homes in February 28, 2013. The month’s supply of inventory also decrease this year falling 53.7% for attached homes and 41.1% for detached homes.

There were mixed results for the number of new listings in the area, as the number for attached homes dropped from 1,086 new listings for the year ending February 29, 2012 to 965 new listings for the year ending February 28, 2013, and the number for detached homes fell from 707 new listings for the year ending February 29, 2012 to 753 new listings for the year ending February 28, 2013. There were also mixed results for the median sale price for home, townhomes, and condos in Palatine, as the median sales price for attached homes increased slightly from $76,000 for the year ending February 29, 2012 to $77,000 for the year ending February 28, 2013, and the median sales price for detached homes fell slightly from $269,000 for the year ending February 29, 2012 to $275,000 for the year ending February 28, 2013. There was also improvement in the market time, as the market time for attached home fell from 174 days for the year ending February 29, 2012 to 152 days for the year ending February 28, 2013, the market time for detached homes decreased from 174 days for the year ending February 29, 2012 to 160 day for the year ending February 28, 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 Masters 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.

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