Real Estate Performance Review for Tower Lakes Announced by Herman Group

Share Article

There was a slight decrease of in the number of closed sales for homes, condos, and townhomes in Tower Lakes.

Deals on Illinois homes

Deals on Illinois homes

There was an improvement in the market time for the year

There was a slight decrease of in the number of closed sales for homes, condos, and townhomes in Tower Lakes. The number of closed sales fell from 14 closed sales for the year ending February 29, 2012 to 13 closed sales for the year ending February 28, 2013. While this represents a decrease of 7.1% it is still substantially higher than the year ending February 28, 2011’s figure of 7 closed sales. There was also a slight decrease of 8% in the median sales price for homes in the area. The median sales price dropped from $407,500 for the year ending February 29, 2012 to $375,000 for the year ending February 28, 2013. There was a decrease in the number of homes for sale in Tower Lakes for the third straight year, as the number of homes for sale fell from 16 homes for the year ending February 28, 2011 to 12 homes for the year ending February 29, 2012 to finally 9 homes for the year ending February 28, 2013. The number of new listings for homes in the area also fell for the third straight year.

The number of new listings decreased from 34 new listings for the year ending February 28, 2011 to 26 new listings for the year ending February 29, 2012, and then down to 20 new listings for the year ending February 28, 2013. The month’s supply of inventory for homes, townhomes, and condos in Tower Lakes fell over the last year, as this number dropped from 7.3 homes for the year ending February 29, 2012 t0 5.5 for the year ending February 28, 2013. There was an improvement in the market time for the year, with the number of days homes in the area remained on the market falling from 252 days for the year ending February 29, 2012 to 110 days 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. John's 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 Master's 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.

Share article on social media or email:

View article via:

Pdf Print

Contact Author

John Herman
Follow us on
Visit website