Schaumburg Single Family Homes Market Update

The above chart (click on it for larger view) shows the amount of inventory on a month by month basis over the past year. As you can see Schaumburg currently has 10 months of inventory which is 1.6 months less then in Aug of 2007.

Schaumburg has seen some depreciation over the past 24 months which is making it a great time to purchase a home. If you have any questions about the market feel free to contact us.

Schaumburg Real Estate Market Update - 08/04/08

The Schaumburg real estate market is still a "buyer market" and there are many good buys out there. Anyone thinking of buying a home should consider this a prime opportunity to purchase. Interest rates are still very low and many experts believe interest rates will rise to above 7% by next year. Interest rates are the number one factor in determining how much buying power you will have. Below are the current market stats for Schaumburg.

Schaumburg Single Family Homes

Lowest Priced Home: $204,900 for foreclosure 4 bedroom 2 bath home
Highest Priced Home: $2,495,000 for a 5 bedroom 5 1/2 bath new construction home

Current Active Listings: 237
Currently Under Contract: 34
Closed Sales in Past 90 days: 50

Schaumburg Attached* Homes

Lowest Priced Home: $95,000 for a studio condo
Highest Priced Home: $675,900 for a luxury 2 bedroom 3 and 1/2 bath townhome

Current Active Listings: 482
Currently Under Contract: 60
Closed Sales in Past 90 days: 87

For more detailed information about Schaumburg Illinois visit SuburbanHouseHunters.com.

*Attached homes are either condos, townhomes, or coach homes.

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".

Schaumburg Rental Search

The Suburban House Hunters Team has added rental services to their residential real estate services menu. So if you are looking for a rental in Schaumburg Illinois make sure to visit their site.

Rentals can include apartments, condos, townhouses, or single family homes. Many people don't realize that they can hire the services of a real estate professional that will have access to rentals. The real estate agent will be able to save the customer time and many time money as they are willing to negotiate for their client. The reason a real estate agent will be able to negotiate a better deal is they are an independent party. They will never live in the home or deal with the landlord again so they can be more aggressive then most renters will be.

Best of luck with your rental search.

Schaumburg Real Estate Market Update - 12/10/07

There are currently 217 single family homes listed on the MLS with a price range of $243,000 up to $1,250,000. Of the 217 homes currently listed 24 of them are currently under contract. This leaves 193 single family homes available.

Attached homes are either condos, townhomes, or coach homes. There are 427 attached homes on the market with a price range of $94,900 for a studio condo up to $729,000 for a luxury 3 bedroom 2 and 1/2 bath townhome. 44 of these listed homes are under contract as of today and that leaves 383 attached homes that are available. This is a huge inventory of homes and shows how strong the current buyers market is.

For more detailed information about Schaumburg visit SuburbanHouseHunters.com.