(PRWEB) October 31, 2013
The John Herman team realtors are pleased to provide details on the latest real estate performance review for homes for sale in Palatine for September 2013. This month showed a significant increase in the number of closed sales for both attached and detached homes in the area.
The September 2013 performance review showed an increase of 45 percent in the number of closed sales for attached homes in Palatine, as the number rose from 42 closed sales in September 2012 to 61 closed sales in September 2013. This increase continued with detached homes, which showed an increase of 12 percent in the number of closed sales, as the total jumped from 47 closed sales in September 2012 to 53 closed sales in September 2013. There were mixed results for the median sales price for the month. The median sales price for attached homes rose by 38 percent, increasing from $76,500 in September 2012 to $105,750 in September 2013. Whereas, the median sales price for detached homes fell slightly, declining from $311,000 in September 2012 to $310,000 in September 2013.
The report went on to reveal a decrease, however, in the number of homes for sale in Palatine. The number of attached homes for sale dropped by 58 percent, decreasing from 342 homes in September 2012 to 142 homes in September 2013. The number of detached homes for sale also fell for this month, dropping from 235 homes in September 2012 to 196 homes in September 2013. Mixed results were reported in the Illinois real estate performance review for the number of new listings for homes in the area. While the number of new listings for attached homes declined from 77 new listings in September 2012 to 69 new listings in September 2013, the number of new listings for detached homes rose from 55 new listings in September 2012 to 94 new listings in September 2013.
Also reported was a dramatic 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 7.4-month supply in September 2012 to a 2.2-month supply in September 2013, and the month’s supply of inventory for detached homes dropped from a 7.0-month supply in September 2012 to a 4.2-month supply in September 2013. There was some improvement in the market time for homes sold in this community. As the market time for attached homes fell from 108 days in September 2012 to 61 days in September 2013, and the market time for detached homes dropped from 119 days in September 2012 to 74 days in September 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 two percent 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.