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 more than 18% and inventory decreased more than 62% in September.
Single family home market times decreased in September. Homes were on the market for an average of 17 days compared to 75 days last year at the same time, a 77.3% decrease. The average time a condo/townhome stayed on the market was 40 days compared to last year when it was 74 days, a decrease of 45.9%.
Single family home inventories in Buffalo Grove had a 0.9 month supply at the end of September, a 62.5% decrease compared to last year at this time when the months supply was 2.4 months. The supply of condos and townhomes decreased 54.1% in September with a 1.7 month supply this year compared to last year when the months supply was 3.7 months.
Homes For Sale
At the end of September there were 41 single family homes for sale in Buffalo Grove, a decrease of 50% from last year when there were 82 homes for sale. The number of condos and townhomes for sale decreased 36% in September with 71 for sale this year compared to last year when there were 111 for sale.
September single family home new listings decreased with 45 new listings compared to 67 last year at the same time, a 32.8% decrease. Condo and townhome new listings decreased with 44 new listings compared to 51 last year at the same time, a 13.7% decrease.
Real Estate Closings
The number of single family home sales increased with 44 closings this September compared to 37 last year, an 18.9% increase. Condo and townhome closings decreased 17.4% with 38 closings this September, compared to the same time last year when there were 46 closings.