Blurbs from the Burbs by Chicago Northwest Realtor, Judy Greenberg

Buffalo Grove Real Estate Analysis- May 2010 by Judy Greenberg, Buffalo Grove Realtor

How is the Buffalo Grove real estate market doing?

Everywhere I go these days, whether at my child's volleyball game,  my social  bowling league on Saturday night or walking my dog, people are asking me the same question, how is the Buffalo Grove Real estate market doing?    If you  want my complete answer, we need to meet for lunch.  I'm definately a straight shooter and will give you the  411 on what is happenning in the Buffalo Grove real estate market. 

The long and short of it is that on paper, the Buffalo Grove  Real Estate market, especially the $250,000 to 400,000 priced home is definately holding its own and  is even showing nice signs of improvement.    However, if you talk to a  frustrated seller of a higher price Buffalo Grove home, they would not sound as optimistic.  

The Buffalo Grove real estate  analysis  I did last month  indicated that the number of  Buffalo Grove Real estate sales have  almost doubled and Buffalo Grove real estate prices, have even increased,   In 2009 the median Buffalo Grove selling price was $285,000 and in 2010 the median Buffalo Grove selling price was $295,000. Although it is only a little increase, it was an increase. 

Buffalo Grove Real Estate Analysis- First four months of 2010 

 Buffalo Grove Real Estate Analysis- First four months of 2009

 As of May 31st 2010, the market still seems to be improving in Buffalo Grove.  27 Buffalo Grove homes were closed in May  and the selling price increased in one month  from $330, 711 to $347,062.  Additionally the days on the market decreased from 136 days to 128 days.   All good signs!

The above post, Buffalo Grove Real Estate Analysis May 2010-  was written by Judy Greenberg, Buffalo Grove Realtor. 

Judy Greenberg's websites www.movetolonggrove.com and www.buffalogrovehomes.com all the information regardless as to providewhether you are a potential buyer or seller.  If you are a first time home buyer trying to determine how much you can afford, or an experienced buyer who is selling your home, Judy can help you with all your real estate needs .  As a seller you benefit from Judy's savvy internet marketing skills and strong negotiating skills, and as a buyer you benefit from her passion for finding you your perfect home!

Judy can be reached at 847-602-5435 or via email at info@buffalogrovehomes.com. Judy has helped people move in and out of  the Chicago Northwest  Suburbs. including but not limited to , Long Grove, Kildeer, Buffalo Grove, Lincolnshire, Vernon Hills, and Hawthorn Woods.

Why is the Buffalo Grove median price decreasing in February of 2010? 

The Median Sales Price in Buffalo Grove  in February was $195,148, down -21.9% from $250,000 in February of 2009 and down -21.9% from $250,000 last month. The Average Sales Price in Buffalo Grove in February was $226,640, down -20.8% from $286,333 in February of 2009 and down -15.8% from $269,294 last month.

Why aren't the  median sales prices increasing in Buffalo Grove?...  One reason and one reason only...  the number of  Short Sales and Foreclosures is substantially increasing.

It's not all bad news and I wouldn't be  be totally concerned however by the decrease in the overall  median prices in Buffalo Grove.   The  prices of the homes that show well,  and in excellent condition  are not decreasing but are actually increasing.    I just sold 2 homes in less than 14 days each because they were both maintained properly and both were the best homes in their price range.  

Its very challenging to sell a home in Buffalo Grove in these times because of  the amount of short sales and foreclosures listed every day.  That is why it is important  to use a real estate agent who really knows the  Buffalo Grove market!

The above article Buffalo Grove Real Estate- Market Report for February 2010 was written by Judy Greenberg, Realtor from Coldwell Banker Buffalo Grove

If you would like more information about the Chicago Northwest Suburbs,including  Buffalo Grove, Lincolnshire, Long Grove, Vernon Hills, and Lake Zurich  please do not hesitate to call me at 847-602-5435 or email me at info@buffalogrovehomes.com. 

My websites, www.movetoVernonhills.com , www.buffalogroveareahomes.com and my blog www.judygreenberg.com will provide you all the information regardless as to whether you are a potential buyer or seller!

Buffalo Grove Real Estate 2009 stats

As a Buffalo Grove realtor, everywhere I go, people are asking me how is the real estate market doing?  Before I answer this 64 dollar question, I want to pose to them one question,  are you a  potential buyer or a potential seller? 

Well folks, here are  the 2009  Buffalo Grove Illinois real estate facts!

In Buffalo Grove 205 single family homes  and 211 condos/townhomes sold in 2009.  The average price of a single family home in  Buffalo Grove 2009 sold for $360,421 and a condo/townhome sold for $189,687.

How do 2009 Buffalo Grove statistics compare to the 2008 Buffalo Grove real estate statistics?

 Almost t he same amount of  single family homes were sold in  Buffalo Grove  in  both 2008 and 2009.  In 2009 more condos and townhomes in Buffalo Grove were sold than in 2008.  However,  Buffalo Grove homes have definately decreased since 2008 making it a great time to buy. These charts also indicate that when the seller's prices reflect current market conditions, it is a good chance that the properties will sell much faster.

Buffalo Grove Real Estate analysis for November 2009 by top realtor in the Buffalo Grove area.

As a Buffalo Grove realtor, the number one question that I am always asked is..... "How is the Buffalo Grove Real Estate  Market Doing?"  Obviously, my clients ask me this question but I am also asked this question by friends, family and/or acquaintances. I am asked this question at the grocery store, while I am walking my dog, at school functions, as a spectator at my son's volleyball game , parties, anywhere and everywhere.

So to answer "How the market is in Buffalo Grove  Illinois"  I have summarized the following information for my readers.

1. Home prices in Buffalo Grove  are currently similar to what the prices were in 2002/2003

2.There were 14 closed detached sales in Buffalo Grove  Il in November 2009. compared to only 7 homes that closed in November 2008.   If you would like to know what a particular  Buffalo Grove sold for, just email me and I will be happy to send you the sales price.

3. The  highest selling price for a single family home in Buffalo Grove in November 2009  was $617,000 while the lowest sales price in Buffalo Grove in November 2009  was  $180,000.

4.Two of the Buffalo Grove  November closed sales were short sales and one was a REO

5. The average listing market time in Buffalo Grove, Il  in November of 2009 was 173 days - understand that this is an average and that "pricing a home right for today's market and staging your home" will result in a quicker sale.

6. The average sales price for the 11 months of  2009 in Long Grove was $248,303 down from  $306,870 for 11 months of last year.    Why has the average decreased by approx 18%in one year.   One reason for the major decrease is that there are more short sales and Bank Owned Property than there have ever been.

The good news is that more homes are being sold every month and when the inventory decreases, homes will of course  increase in value.

I think that it is a wonderful time to sell if you are looking for a great opportunity to buy - I have had two clients who recently sold their homes for less than they had paid for them in 2003  but made up the difference and more when they purchased their next home. .

If you do not own anything it's a wonderful time to buy too.  With the extended tax credits in place and interest rates under 5% for a conventional loan - there are some amazing opportunities in Buffalo Grove, Illinois.  Actually one of my lenders said they can get a 4.5 percent 30 year conventional fixed loan.

So How is the Market in Buffalo Grove Illinois?  I think it's great! The market in Buffalo Grove Illinois is filled with opportunities!! 

Whether you are in the market to buy a home or to sell your current home in Buffalo Grove it is important to keep abreast of the Buffalo Grove Grove market statistics (or at least to work with a Buffalo Grove  REALTOR who does.)

If you would like more information about the Chicago Northwest Suburbs,including Buffalo Grove, Lincolnshire, Long Grove, Vernon Hills, and Lake Zurich  please do not hesitate to call me at 847-602-5435 or email me at info@buffalogrovehomes.com. 

My websites, www.movetolonggrove.com , www.buffalogroveareahomes.com and my blog www.judygreenberg.com will provide you all the information regardless as to whether you are a potential buyer or seller!

Are you looking for a new home in the near future.?... Then click on icon on the right and  I'll help to find you the perfect home.