(PRWEB) May 15, 2013
There was a dramatic increase in the number of closed sales for both attached and detached homes, condos, and townhomes in Palatine for the month of April 2013. The number of closed sales for attached homes increased by 72.1%, as the number rose from 43 closed sales in April 2012 to 74 closed sales for April 2013. Whereas, the number of closed sales for detached homes rose by 96.4%, as the number increased from 28 closed sales in April 2012 to 55 closed sales in April 2013. There was also an increase in the median sales price for attached and detached homes sold in the area. The median sales price for attached homes went up from $ 75,000 in April 2012 to $ 79,550 in April 2013, and the median sales price for detached homes also improved as it rose from $ 273,000 in April 2012 to $ 315,000 in April 2013. Both of these figures are promising news that the housing market is improving, especially considering the number of homes for sale in Palatine has decreased over the past year for both attached and detached homes.
The number of attached homes for sale dropped by 58.8%, as the number fell from 400 homes for sale in April 2012 to 165 homes for sale in April 2013, and the number of detached homes for sale fell from 256 homes for sale in April 2012 to 163 homes for sale in April 2013. The month did show more encouraging news, as the number of new listings for homes for sale in the area increase for April 2013. The number of new listings for attached homes rose from 80 new listings in April 2012 to 89 new listings for April 2013, and the number of new listings for detached homes increased from 63 new listings in April 2012 to 78 new listings for April 2013. However, there was a decrease in the months supply of inventory in April 2013 for both attached and detached homes, townhomes, and condos in Palatine.
The months supply of inventory for attached homes dropped from 9.1 homes in April 2012 to 2.7 homes in April 2013, and the months supply of inventory for detached homes fell from 9.3 homes in April 2012 to 3.9 homes in April 2013. The month did show a substantial improvement in the market time for both attached and detached homes. The number of days attached homes in Palatine remained on the market dropped from 180 days in April 2012 to 105 days in April 2013, whereas the number of days detached homes stayed on the market declined from 221 days in April 2012 to 100 days in April 2013.
Welcoming his 12th year of Real Estate experience, John Herman effectively turns buyers into owners, and closes listings successfully with Barrington Real Estate, Illinois. Clients are quickly referred to as guests in his home market, welcoming everyone to his performance standards uniquely separating him from the competition. John’s diligent work with clients earned him a 2011 Five Star Professional Award. As a daily hard working Realtor, John has made it in the top 7% of Real Estate agents granted this award. With his Master’s Degree, John is also certified in Foreclosure and Short Sale transactions along with certification as an Accredited Home Buyer Representative. John and his team are localized experts with over 20 years of real estate experience within the beautiful area of Chicago. John Herman controls the necessary actions to position the right inspector, plumber, or resourceful help needed to close every deal properly.
