Buffalo Grove Real Estate Market Update
Buffalo Grove real estate sales got off to a very similar start in January 2019 as in 2018. Inventory levels have improved, so it will be interesting to see if inventory keeps up with demand as we approach Spring.
Single Family Homes:
Average Market Time
The average time a single family home remains on the market in Buffalo Grove was 108 days in January 2019, which was up from 85 days in January 2018.
Months Supply
As of February 1, 2019, there is 2.8 months supply of single family homes for sale in Buffalo Grove compared to 1.9 last year. Anything under 5 months is considered a seller’s market. Now is definitely a good time to consider selling.
Homes For Sale
At the end of January 2019, there are 95 single family homes for sale in Buffalo Grove, compare that to the 65 available at this time last year and you’ll see that inventory has improved.
New Listings
49 single family homes were listed for sale in January of 2019, compared to 48 new listings last year. We should see a significant influx of new homes listed over the next couple of months.
Homes Under Contract
22 single family homes went under contract in Buffalo Grove in January 2019 a slight decrease from 25 in January 2018.
Closings
18 Single family homes closed in January 2019, down nominally from 19 in January 2018.
Condos and Townhomes:
Average Market Time
The time Condos and Townhomes remains on the market in Buffalo Grove was 85 days which is up from 62 days in January 2018.
Months Supply
As of February 1, 2019, there are 2.6 months supply of Condos and Townhomes for sale in Buffalo Grove up from last year’s figure of 1.8. Buyers still have to move quickly when an attractive listing hits the market!
Homes For Sale
At the end of January 2019, there are 78 Condos and Townhomes for sale in Buffalo Grove, compare that to the 57 available at this time last year and you’ll see that inventory has improved..
New Listings
38 Condos and Townhomes were listed for sale in January of 2018, the same figure as last year.
Condos and Townhomes Under Contract
20 Condos and Townhomes went under contract in Buffalo Grove in January, which is a decrease from 30 from 2018.
Closings
16 Condos and Townhomes closed in January 2019, down from 18 in 2018.