(PRWEB) October 27, 2013
Real estate agent, John Herman, and his team are pleased to release the latest results from September 2013’s real estate performance review for the Tower Lakes community. This month’s review showed a slowdown in the number of closed sales reported, but also a substantial increase of 44% in the number of homes for sale in Tower Lakes.
There were actually no closed sales reported in Tower Lakes for the month of September 2013. This kept the numbers consistent with the September 2012 report, which also showed no closed sales. Since there were no closed sales for the month, there are also no median sales price figures to report. It is good to mention that this community did see four closed sale previously in September 2011, with a median sales price of $360,750. It is also important to note that September 2011 saw a market time figure of 403 days.
Further review of the Illinois real estate performance review showed a dramatic increase in the number of homes for sale in Tower Lakes, as the total rose from 9 homes for sale in September 2012 to 13 homes for sale this year. This year’s figure represents a three-year high, as the total also stands higher than September 2011’s total of 11 homes for sale. The number of new listings on the market was cut in half this year, as the total dropped from two new listings for September 2012 to only one new listing for September 2013.
Additional good news reported in the September 2013 review was that the month’s supply of inventory is also at a three-year high. This number has steadily increased over the last three years as it gradually rose from a 5.8-month supply in September 2011 to a 6.4-month supply in September 2012 to a 7.6-month supply in September 2013. With more Tower Lakes homes for sale entering the market, this should lead to additional closed sales and an increased seller’s market.
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.