RealEstateConsumerInfo.com

Real Estate Market Update - Northwest Suburbs - January 2015

This is the place to get those Northwest Suburban real estate questions answered!

What does 2015 have in store for our real estate market? First off, the housing inventory is now the highest it has been since the recession started. More people are now trying to sell their homes so that will benefit sellers where the market is booming but a detriment to those where the market has not yet quite recovered. Competition is a major market factor with prices increasing in other large national markets & a detractor for a Midwest market like ours. We have just not recovered as quickly as other national markets.

northwest suburbs

northwest suburbs

 

Our Northwest Suburban inventory level has increased slowly every month since October without fail. We are still in a 'balanced market' but competition will become more relevant over the next few months.

And those Prices?  Prices have virtually stayed flat for January but increased 2% overall from 2014. The indicators are showing that the prices will continue to increase but only marginally. Our market is considered balanced but my opinion is that we have too much inventory currently for price increases.

Average Days on the Market tells homeowners how long it's going to take to sell their home. This has varied each month and is also considered balanced for 2014. Each market area & subdivision is selling differently. Buyers are telling sellers to change their price or their condition if your home is currently on the market over 90 days. Market time is down 21% from 2014 which is a distinct improvement.

There is much talk about first time buyers not coming into the market which has caused this slowdown. Others have disagreed saying the problem is with financing's harsher standards and the inability for buyers to get their down payments. And some are also blaming the blizzards & cold weather.

Pundits are divided on whether interest rates will increase as predicted in June. 
 



lyn simsLooking for an agent that's knows the market?  I can zero in to your specific area and give you the current market details so you can make an informed decision and help your home sell faster. My experience plays an important role. I'm one of those unique people that will tell you how the market really is explaining the good with the bad.

Looking for a home in the area? Please give me a call or email me to talk about the possibilities. You will need current market strategies to get you into that new home.


December 2014 Report
Sources:  MRED January Stats 2015

lyn sims     LynSims.net      Schaumburg Homes

 

   'Like' Schaumburg IL Real Estate on Facebook

 

    LinkedIn     Google+    Email Lyn

 

 

    Lyn Sims    Schaumburg IL Area    Northwest Chicago Suburbs  ●  (847)230-7324

1 commentLyn Sims • February 11 2015 10:38AM
Real Estate Market Update - Northwest Suburbs - January 2015
share
This is the place to get those Northwest Suburban real estate questions answered What does 2015 have in store for our real estate market? First off, the housing inventory is now the highest it has been since the recession started. More people… more
Down Payment Assistance - Schaumburg IL
share
SmartMove Program in Illinois IHDA’s mortgage program, SmartMove, offers first-time homebuyers an affordable 30-year fixed-rate mortgage and up to $6, 000 for down payment. SmartMove is the perfect solution for borrowers who have limited funds for… more
Hoffman Estates IL Real Estate - Understanding Supply & Demand
share
Hoffman Estates IL Real Estate - Housing Market Info December 2014 Looking for current and concise market information for your Hoffman Estates Home? You've come to the right place so let's delve right into the information. Let's talk about a few… more
Schaumburg Homes - Housing Market Info December 2014
share
Schaumburg Homes - Schaumburg IL Real Estate - Housing Market Info December 2014 Looking for current and concise market information for your Schaumburg Home? You've come to the right place so let's delve right into the information. Let's talk… more
1719 S Green Meadows Blvd, Streamwood IL 60107 $149, 900
share
more
Home Amenities that Buyers will Sacrifice For
share
Home buyers have always been willing to pay for some features more than others and Pulte Builders has done a survey showing what the results recently told us. What buyers WOULD give up? 44% said they'd be willing to give up a location near public… more
200 Hill Ct, West Chicago IL 60185 $369, 900
share
$369, 900, 4Bd/3Ba Single Family House, 3239 sqft. Lyn Sims | RE/MAX Suburban | 847-230-7324 200 Hill Ct, West Chicago, IL 60185 LOTS OF SPACE, GREAT YARD, GREAT PRICE! 4Bd… more
Northwest Suburbs Real Estate Market Update - November 2014
share
This is the place to get those Northwest Suburban real estate questions answered Our Northwest Suburban inventory level has increased slowly every month without fail. You've got slightly more competition now than earlier this year so be sure… more
2325 Knollwood Ct, Schaumburg IL 60194 $139, 000 Towne Place
share
Lyn Sims Phone Number Direct: 847-230-7324 Email Address lynsimsremax@yahoo. com Web Site www. lynsims. net Mobile Search m. lynsims. net Mailing Address RE/MAX Suburban 2311 W. Schaumburg Rd. Schaumburg IL… more
1341 Filly Ln, Bartlett IL 60103 $184, 900
share
Lyn Sims Phone Number Direct: 847-230-7324 Email Address lynsimsremax@yahoo. com Web Site www. lynsims. net Mobile Search m. lynsims. net RE/MAX Suburban 2311 W. Schaumburg Rd. Schaumburg IL 60194.. more
222 Sierra Pass Dr, Schaumburg IL 60194 $161, 000
share
Lyn Sims Phone Number Direct: 847-230-7324 Email Address lynsimsremax@yahoo. com Web Site www. lynsims. net Mobile Search m. lynsims. net RE/MAX Suburban 2311 W. Schaumburg Rd. Schaumburg IL 60194.. more
119 E Beech Dr, Schaumburg IL 60193 $176, 000
share
Lyn Sims Phone Number Direct: 847-230-7324 Email Address lynsimsremax@yahoo. com Web Site www. lynsims. net Mobile Search m. lynsims. net RE/MAX Suburban 2311 W. Schaumburg Rd. Schaumburg IL 60194.. more
987 Huntington Dr, Elk Grove Village IL 60007 $179, 000
share
Lyn Sims Phone Number Direct: 847-230-7324 Email Address lynsimsremax@yahoo. com Web Site www. lynsims. net Mobile Search m. lynsims. net RE/MAX Suburban 2311 W. Schaumburg Rd. Schaumburg IL 60194.. more
1528 Laurel Oaks Dr, Streamwood IL 60107 $194, 000
share
Lyn Sims Phone Number Direct: 847-230-7324 Email Address lynsimsremax@yahoo. com Web Site www. lynsims. net Mobile Search m. lynsims. net Mailing Address RE/MAX Suburban 2311 W. Schaumburg Rd. Schaumburg IL… more
Northwest Suburbs Real Estate Market Update - October 2014
share
Real Estate Market Update - Northwest Suburbs - October 2014 This is the place to get those Northwest Suburban real estate questions answered! Our Northwest Suburban inventory level has increased slowly every month since June. You've got… more
Schaumburg IL Recycling Event
share
The Township of Schaumburg will be hosting a free electronics recycling and paper shredding event from 9 a. m. to 12 p. m. on Saturday, November 8, 2014 at the township located at 1 Illinois Blvd. in Hoffman Estates. The event is open to Schaumburg… more
Keep your Wallet Closed at that next 'Investor Event'
share
You see these seminars that offer to teach you how to invest in real estate and eventually take over the world but is there any value in what they are teaching? I attended an event not too long ago from Pathway Events Presentation and I'll be… more
The Distinct Impact Foreclosures have on a Neighborhood
share
I always new that foreclosures depressed neighborhood prices but I came across a study that showed the actual impact in dollars. As agents we all know that 1, 2 or 3 foreclosures in a subdivison has a definite effect but how many of us ever sat… more
Haunted Houses near Schaumburg IL
share
Feel like a Haunted House this Halloween? There is never a better time to get the hell scared out of you than the month of October! Looking for a few frights in the area? Here's all the info I've collected for you all in the same place. I'm… more
Schaumburg K-9 Dog Park
share
The K-9 Dog Park in Schaumburg is now open and will offer leash free enjoyment! The 6. 5 acre site will feature a large pond with a specifically designed ramp to help the dogs get in and out of the water. Other ammenities are a covered… more