Homes Are Selling Like It’s 2006, Says Realtor.com

What a month!
Here in Northwest Chicago suburbs the real estate market is great! we started out with very low inventory in spring, which bode well for purchase activity this year, according to Fannie Mae’s June 2015 National Housing Survey.
Now the sellers are feeling more upbeat and thanks to  increased job and income growth, more homeowners are considering to sell their homes this year, instead of waiting. This could help reverse the low inventory. 

For the fifth consecutive month, the number of houses under contract are up—and it’s the most activity we’ve seen since the height of the housing boom, the National Association of Realtors® reported.

NAR’s Pending Home Sales Index for May, an indicator based on contract signings for existing single-family homes, condos, and co-ops, increased 0.9% over April to 112.6. That’s 10% higher than last year, and the highest level of activity since April 2006, when the index was 113.7.

Let's compare a couple towns here in Northwest Suburbs of Chicago for June 2015

PALATINE, IL 

The average Days On Market(DOM) shows how many days the average Property is on the Market before it sells.
The market time has dropped substantially to 33 days on the market. That is really great news!
The DOM (Days On Market) for June was down -47.6% from 63 days last month (market accelerating).

An upward trend in DOM tends to indicate a move towards more of a Buyer's market, a downward trend a move towards more of a Seller's market.


And here is the report I did for detached single family homes.
The Average Sales Price in June was $372,489, up 5.7% from $352,568 in June of 2014 and up 5.0% from $354,897 last month. June 2015 ASP was at highest level compared to June of 2014 and 2013.

BARRINGTON, IL 

The market time is a little longer, but mainly because of the price point.
Because of the home values, there are less buyers shopping for the price range in Barrington, but it doesn't mean the market is slow there, not at all!

The DOM for June was 65, down -35.6% from 101 days last month. The June 2015 DOM was at a mid range compared with June of 2014 and 2013.

Together, these results point to a healthier home purchase market, with more renters likely to find owning to be more cost-effective than renting and more sellers likely to put their homes on the market,” says Doug Duncan, senior vice president and chief economist at Fannie Mae.

Are you thinking of selling your home?

Are you looking to get the most amount of money for your real estate in the least amount of time?
Excellent!
If you would like to receive the most current estimated value of your home, just email me and I will do a homework on your home.

Also, to make sure you are taking the right decision when listing, I would love to meet up to see your home and discuss what I can bring to the table to get your home sold in 30 days or less, that is different from other agents. Contact me NOW!

You will find that I work very hard for my Sellers and my many customers will confirm this to you.

I value my clients and the trust that they have in me to get their home sold. I’ve always been a committed customer advocate throughout my entire business career and your voice of satisfaction after the closing of your home sale is the greatest gift I can ever receive in my Real Estate business. You will always know that I will deliver on my Real Estate promises; if I said it, rest assure I’ll deliver.

Thank you,
Your Realtor, Diana Matichyn