(PRWEB) May 01, 2013
There was a significant increase of 71.6% in the number of closed sales for homes, townhomes, and condos for sale in Long Grove for the year ending March 31, 2013. The number of closed sales rose from 74 closed sales for the year ending March 31, 2012 to 127 closed sales for the year ending March 31, 2013. This is good news considering the number of homes for sale in the area has declined for the third straight year. The number of homes for sale fell from 137 homes for the year ending March 31, 2011 to 129 homes for the year ending March 31, 2012 to finally 108 homes for sale for the year ending March 31, 2013.
There was also a decrease in the number of new listings for homes for sale in Long Grove, as the number fell from 257 new listings for the year ending March 31, 2012 to 235 new listings for the year ending March 31, 2013. This created a decrease in the months supply of inventory for the year ending March 31, 2013. The months supply of inventory has fallen for the past three years, dropping from 23.1 homes for the year ending March 31 2011 to 19.6 homes for the year ending March 31 2012 to 12.1 homes for the year ending March 31 2013. The year also saw a slight decrease in the median sales price for homes, condos, and townhome in Long Grove. The median sales price declined from $ 650,000 for the year ending March 31, 2011 to $ 576,944 for the year ending March 31, 2012 to $ 560,000 for the year ending March 31, 2013. There was, however, improvement in the market time, as the number of days homes remained on the market fell from 306 days in March 31, 2012 to 189 days in March 31, 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.
