Buffalo Grove Real Estate Market Update
The Buffalo Grove Real Estate Market continues to see good market conditions despite the low inventory. Single family home sales increased 20% and inventory increased more than 9% in April.
Market Times
Single family home market times decreased in April. Homes were on the market for an average of 16 days compared to 26 days last year at the same time, a 38.5% decrease. The average time a condo/townhome stayed on the market was 21 days compared to last year when it was 49 days, a decrease of 57.1%.
Months Supply
Single family home inventories in Buffalo Grove had a 1.2 month supply at the end of April, a 9.1% increase compared to last year at this time when the months supply was 1.1 months. The supply of condos and townhomes decreased 60% in April with a 1 month supply this year compared to last year when the months supply was 2.5 months.
Homes For Sale
At the end of April there were 47 single family homes for sale in Buffalo Grove, a decrease of 2.1% from last year when there were 48 homes for sale. The number of condos and townhomes for sale decreased 58.5% in April with 39 for sale this year compared to last year when there were 94 for sale.
New Listings
April single family home new listings decreased with 80 new listings compared to 98 last year at the same time, a 18.4% decrease. Condo and townhome new listings decreased with 71 new listings compared to 93 last year at the same time, a 23.7% decrease.
Real Estate Closings
The number of single family home sales increased with 48 closings this April compared to 40 last year, a 20% increase. Condo and townhome closings increased 41.5% with 58 closings this April, compared to the same time last year when there were 41 closings.
