(PRWEB) September 03, 2013
The John Herman Team is pleased to announce the July 2013’s real estate performance review results for homes in Tower Lakes. The month of July 2013 revealed a significant increase in the number of homes for sale, the number of new listings and the month’s supply of inventory for homes in this community.
There was a significant increase in the number of homes for sale this month, as the total rose by more than 33%. The number of homes for sale rose from 9 homes in July 2012 to 12 homes for sale in July 2013. There was also a dramatic increase of 200% in the number of new listings, as the number rose from only 1 new listings in July 2012 to 3 new listings in July 2013.
The Illinois real estate
performance review did, however, show a decline in the median sales price as it fell by 8% going from $412,000 in July 2012 to $379,000 in July 2013. There was also a decrease in the number of closed sales, as the number dropped from 2 closed sales in July 2012 to 1 closed sales in July 2013. While this represents a decrease of 50%, it is still better than in July 2011 when there were no closed sales.
The month revealed an increase in the month’s supply of inventory for Tower Lakes homes for sale.After seeing a decline last year as the month’s supply of inventory fell from 9.8 homes in July 2011 to 5.1 homes in July 2012, this year’s figure rose to 7.4 homes in July 2013. The market time for homes in this community increased dramatically, as the number of days homes remained on the market rose from 59 days in July 2012 to 502 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.