(PRWEB) September 20, 2013
The John Herman Team is pleased to release the latest results from the August 2013’s real estate performance review for homes in Palatine. The month of August 2013 showed an increase in the number of closed sales and the median sales price for attached and detached homes in this community.
The August 2013’s review showed an increase of 13% in the median sales price for attached homes in Palatine, as the number rose from $84,000 in August 2012 to $95,100 in August 2013. In addition, the median sales price for detached homes rose by 17%, increasing from $277,500 in August 2012 to $325,000 in August 2013. There was also an increase in the number of closed sales in this community, as the number of closed sales for attached homes rose from 64 closed sales in August 2012 to 66 closed sales in August 2013, and the number of closed sales for detached homes increased from 48 closed sales in August 2012 to 51 closed sales in August 2013.
The monthly Illinois real estate performance review did, however, show a decrease in the number of homes for sale for both attached and detached homes. The number of attached homes for sale fell from 350 homes in August 2012 to 168 homes in August 2013, and the number of detached homes for sale dropped from 244 homes in August 2012 to 184 homes in August 2013. The review showed mixed results for the number of new listings for attached and detached homes in Palatine. The number of new listings for attached homes dropped from 91 new listings in August 2012 to 88 new listings in August 2013, and the number of new listings for detached homes increased from 50 new listings in August 2012 to 77 new listings in August 2013.
There was also a decrease in the month’s supply of inventory for Palatine homes for sale. The month’s supply of inventory for attached homes fell from a 7.6-month supply in August 2012 to a 2.7-month supply in August 2013, and the month’s supply of inventory for detached homes dropped from a 7.4-month supply in August 2012 to a 4.1-month supply in August 2013. There was also a decrease in the number of days homes in Palatine remained on the market. The market time for detached homes fell from 160 days in August 2012 to 83 days in August 2013, and the market time for attached homes dropped from 127 days in August 2012 to 66 days in August 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.