Kane County sales continue to increase along with others in the seven-county Chicago metropolitan area. Unfortunately, the percentage of distressed homes for sale continues to rise, and the median price of home sales continues to fall.
Home sales in the seven-county metropolitan Chicago real estate market followed a familiar path in August, with more homes changing hands more quickly, according to an analysis by RE/MAX. And Kane County home sales are near the top of the list. August sales of detached and attached homes reached a combined total of 9,145 units, which is a robust 26.5 percent higher than in the same month in 2011 and the highest August sales total since 2007. The pace of sales also quickened. The average number of days that homes sold in August spent on the market before a sales contract was signed declined from 165 days a year ago to 139 days this August, the lowest market time for the metro area in any month since December 2007. For the second …
RE/MAX leader is optimistic that the improving economy and low interest rates will boost home sales.
The country's improving economic fortunes bode well for the residential real estate market in 2012, said Dave Liniger, chairman and co-founder of RE/MAX. His comments follow last week’s Illinois Association of Realtors’ (IAR) release of 2011 home sales. Based on the recovering economy, the leader of RE/MAX recently predicted a continued rebound in the nation's housing market this year. "Interest rates will remain at or near historic lows, and home prices will stabilize and start to rise by the end of the year," said Liniger in a prepared statement. "There is no question, the housing recovery will be slow and steady, but for many cities the turn-around is already happening." The numbers in Illinois seem to bear this out. As the year ended…
November home sales in the Chicago area show signs of stability, according to sales statistics issued by one real estate company.
Home sales activity in the metropolitan Chicago real estate market during November delivered another indication that a gradual increase in the number of homes changing hands is beginning to help stabilize home prices, according to an analysis by RE/MAX of sales statistics gathered by Midwest Real Estate Data, LLC. November home sales in the seven-county metro area totaled 5,408 units, 19 percent more than a year ago. Compared to sales in the prior month, November transactions were down 6 percent, a favorable result when considering that the average decline in sales from October to November during the prior five years was 13 percent. The median home sales price in the Chicago area for November was $150,000, 14 percent lower than in …
Tarun Mullick,MD, Therapeutic-Interventional Gastroenterologist
4:00 pm on Friday, September 21, 2012
It seems Kane county is turning around in housing.How about Office space and rents? Who tracks that? more ›