Tremendous residential and commercial growth is on the horizon for this charming town as several new areas are being developed.
"Ever growing Sugar Grove, Illinois, is one of the fast growing communities, located west of Geneva in the western suburbs of Chicago. Homes are selling quickly if priced correctly. Home prices range from the $190,000 to some at $1,000,000+," says Realtor John McNichols . "The steady interest rates spur on the market. Properly priced, well-maintained homes are quickly bought by mainly homebuyers. Sugar Grove is made up of some newer subdivisions as well as established neighborhoods. It has the best of both worlds as it has direct access to the Tollway and borders the soon-to-be Metra rail in adjoining Sugar Grove. Buyers and sellers are coming to the realtors armed with a better understanding of the real estate market as well as particular homes."
He adds, "Today, buyers and sellers are less dependant on realtors for basic information, rather they seek assistance in viewing a home, in prevailing market conditions, and in closing the transaction. The average market time for the typical residential transaction is 86 days -- a great time for the serious sellers. The average price of a home is $291,481. The average Sugar Grove home sells for 97 percent of list price. Sugar Grove has benefited from reasonable price increases, a good housing market, good schools and recreation, and a rising economy. Downtown Chicago will be reached via the Tollway systems or Metra rail this year. Now is a good time to buy or sell while the interest rates remain steady."
Realtor Dan Jungclas says, "According to the MLSNI (Multiple Listing Service of Northern Illinois) data, as of October, 121 Detached Single Family Homes have closed in Sugar Grove in 2005 at an average sales price of $348,574. That's currently an increase of 1.8 percent in value over that of 2004. Additionally, 34 Attached Single Family Homes (Townhouses, Condos, etc) have closed in Sugar Grove in 2005 at an average sales price of $213,106. That's currently an increase of 16.5 percent in value over that of 2004."
He notes, "The market is still hot! Market activity has slowed somewhat but that is normal for this time of the year and is seasonally expected. Properly priced properties and well maintained homes are selling quickly! Interest rates continue to remain quite favorable and this continues to motivate buyers! Buyers are well informed and quite savvy thanks to the Internet. Consumers are definitely feeling better about the future. Home sales will be tied to individual feelings about job security and the general economy not just mortgage interest rates. The Market is just waiting for you."
"Sugar Grove had 16 single family homes close in the month of August with an average price of $334,138 and an average market time of 108 days. The market time increased significantly as compared to July's figure of 85 days, but the average price also increased as compared to July's average of $318,742," says Realtor Peggy Brown .
"The village of Sugar Grove is located 50 miles southwest of Chicago, near the intersection of State Route 47 and US Route 30. Tremendous residential and commercial growth is on the horizon for this charming town as several new areas are being developed. Preserving the charm and character of Sugar Grove remains a priority, as does providing a comfortable environment for its citizens. Sugar Grove offers abundant opportunities for higher education due to its proximity to Waubonsee Community College, Aurora University and Northern Illinois University."
