(PRWEB) September 01, 2013
The John Herman Team is pleased to announce the July 2013’s real estate performance review results for homes in Palatine.The month showed an increase in both the number of closed sales and the median sales price for homes in the area.
The number of closed sales for attached homes rose by 24%, increasing from 57 closed sales in July 2012 to 71 closed sales in July 2013, and the number of closed sales for detached homes rose by 45% going from 44 closed sales in July 2012 to 64 closed sales in July 2013. There was also an increase in the median sales price for homes in the area, as the median sales price for attached homes rose from $76,500 in July 2012 to $95,000 in July 2013 and the median sales price for detached homes increased from $260,000 in July 2012 to $304,100 in July 2013.
The Illinois real estate performance review did, however, show a decrease in the number of attached and detached homes for sale. The number of attached homes for sale dropped from 356 homes in July 2012 to 170 homes in July 2013, and the number of detached homes for sale fell from 257 homes in July 2012 to 189 homes in July 2013. The month showed mixed results for the number of new listings for homes in the area. The number of new listings for attached homes increased from 83 new listings in July 2012 to 103 new listings in July 2013, whereas the number of new listings for detached homes dropped slightly from 87 new listings in July 2012 to 86 new listings in July 2013.
There was also a decline in the month’s supply of inventory for Palatine homes for sale.The month’s supply of inventory for attached homes dropped from 7.9 homes in July 2012 to 2.7 homes in July 2013, and the month’s supply of inventory for detached homes fell from 8.1 homes in July 2012 to 4.2 homes in July 2013. There was some improvement made in the market time for homes sold in this community. The number of days attached homes stayed on the market dropped from 167 days in July 2012 to 112 days in July 2013, and the number of days detached home remained on the market fell from 154 days in July 2012 to 41 days in July 2013.
About John Herman:
John Herman, Hometown 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.