Schaumburg IL Market Update (6/18/2008)

Schaumburg's real estate market has improved over the last few months, but is still holding with 7.4 months worth of inventory. This number includes all single family and attached housing. With 689 total listings available at the end of May vs 745 in 2007 the numbers are slightly improved.

The total months of inventory peaked in December 2007 at 13.2 and that number has slowly decreased as more homes have sold then have been added to the market over the past few months. If current trends continue we could get to a "normal" market (6 months of inventory is considered normal) before this year is over.

For those that like stats here are the Months Supply of Inventory for the past 2 years:

May-08 - 7.4
Apr-08 - 7.4
Mar-08 - 7.1
Feb-08 - 8.2
Jan-08 - 10.4
Dec-07 - 13.2
Nov-07 - 10.7
Oct-07 - 9.8
Sep-07 - 11.7
Aug-07 - 8.8
Jul-07 - 8.4
Jun-07 - 7.7
May-07 - 7.8
Apr-07 - 3.8
Mar-07 - 3.7
Feb-07 - 4.2
Jan-07 - 6.7
Dec-06 - 8.4
Nov-06 - 8.1
Oct-06 - 5.9
Sep-06 - 7.1
Aug-06 - 6.0
Jul-06 - 5.0
Jun-06 - 3.3
May-06 - 4.4

With market conditions improving this is a great time to take advantage of the current "Buyers Market".