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Tuesday, 17 September 2019
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This Old House - Do-it-Yourself

Why August is the Ideal Time to Check Out Houses for Sale in Schaumburg

Written by Posted On Sunday, 18 August 2019 15:29

Why August is the Ideal Time to Check Out Houses for Sale in Schaumburg

In August 2019, the real estate market in Schaumburg is balanced. There are deals to be had for both buyers and sellers. 

This report will focus on different aspects of the August 2019 Schaumburg market, like how quickly Schaumburg sellers sold their homes, how the market is performing compared to last year, what types of homes are on the market, and more.

Currently, there are 633 active houses for sale in Schaumburg on the market. At the same time in 2018, there were 517 homes for sale in the area.

Over the last 12 months, 1256 homes have been sold in Schaumburg. In July 2019, there was a decrease in the number of homes sold compared to one year ago. 147 homes sold in Schaumburg in July 2018, compared to 118 in 2019.

It is expected that it would take approximately 6 months to sell all the 633 homes that are currently on the market.

During August 2019, 17 buyers paid above the asking price for their homes in Schaumburg, which is good news for the sellers. Any time someone pays above the asking price, it indicates that multiple buyers are bidding on the same properties, something that would favor the selling party.

In the previous month, 49 of the homes that sold were single-family homes, while 69 were condos. This data potentially points to the rising popularity of condominiums in the Schaumburg area.

On the other hand, single-family homes sold faster than condos in July 2019. Single-family homes took, on average, 22 days to sell, while condos took an average of 26 days. These numbers remain constant from a year ago during June 2019.

There are currently 215 single-family homes and 324 condos listed among the houses for sale in Schaumburg.

One of the good indications for a seller in Schaumburg is that the median price of homes sold rose from $243,000 in June to $263,000 in However, there’s also an indication that buyers are bargaining harder, since the average list price decreased from $280,000 in June to $268,000 in July. 

 

Here’s what buyers can expect to get depending on their budget in Schaumburg, during August 2019:

  • Lower price range - Between $82K to $172K, buyers can expect to get 1.8 bedrooms, 1.3 bathrooms, and approximately 1032SF of space.

  • Medium price range - Between $172K to $521K, buyers can get 3 bedrooms, 1.9 bathrooms, and 1706SF of space.

  • Higher price range - Between $521K to $780K, the buyer will get 5.2 bedrooms, 3.8 bathrooms, and around 3672SF of space.

Schaumburg is one of the biggest and most prominent suburbs of Chicago, and it’s home to a wide variety of businesses both large and small, including some multinational corporations. There are world-class shopping, dining, and entertainment options available in Schaumburg. 

Residents have plenty of things to do with excellent access to nature and community events like farmer’s markets. Schaumburg is regularly ranked as one of the best suburbs in the country and has a population of around 74,000.

When it comes to houses for sale in Schaumburg, there is a variety of options for home-buyers including homes on the waterfront and homes with pools. There are also a few luxury homes and ones located on a golf course.


Even though the market might be slightly favorable to sellers, there are still some great deals to be found in Schaumburg for buyers for investors, or others on a budget. There currently 59
homes in Schaumburg that are listed below the market and are considered great deals.

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propertyup

John Herman is a managing broker of the PropertyUp, has been providing superior service to clients in the Chicagoland area since beginning his real estate career in 2002.

 

John Herman has been recognized as one of Trulia’s top 1% Realtors and has been a recipient of the Five Star Professional Top Producer Award  6 years in a row. This prestigious award is given to just 2% of the Realtor population in the greater Chicago area (approximately 700 out of the 42,000 Realtors in Illinois). This award is based on customer satisfaction from past clients.

John says “We pride ourselves on a fast response; we answer calls and e-mails 7 days a week 12 hours a day. We have a unique home marketing program that extensively markets property beyond Illinois MLS listings portal.” 

 

John has a bachelor’s degree, a Master’s Degree, an Accredited Home Buyer Representative Certification along with Real Estate Negotiation Expert Certification. John Herman is a published author of multiple real estate books that help buyers and sellers navigate real estate market.

https://barringtonhomesforsale.com
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