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1st quarter ‘08 update for Elk Grove homes and Real Estate:
Single Family Condo/Towhomes
Active listings: 137 Active listings: 119
Under contract: 13 Under contract: 12
Sold & Closed: 17 Sold & Closed: 18
Average days on market: 177 Avg days on market: 221
Elk Grove homes are no exception, it is still a buyer’s market here. But sellers, if you price right for the condition your home is in you will find a buyer willing to pay for it. Rates are great right now, and selection is everywhere so buyers get out there and find your new home!
167 single family homes were sold in ‘07. It took an average of 114 days and the average sale price was $338,265. Today there are 125 listings on the market and 9 of them have buyers working through the purchase process.
For townhomes and condos, 208 sold and closed last year in an average of 98 days at an average price of $192,688. If you’re looking for one now, there are 199 available and 10 of those have gone under contract with buyers.
The past 3 mos for single family homes in Elk Grove Village, Illinois have looked like this (data from MLSNI):
Total Listings: 188
Available: 129
Under Contract: 20
Closed: 39
Elk Grove appears to be doing better during this slow period. Percentage wise there are more listings under contract and closed for the past 3 months than in many of the other Northwest Suburbs. Average market times are also a bit lower, just over 150 days for available listings. Still clearly a buyer’s market though.
