The Lake Zurich IL real estate market is one we have have just started reporting on and this is the first in our monthly activity reports. We have also added Lake Zurich as an area you can search homes for because alongside Barrington, we have been servicing nearby suburbs for home owners and buyers for several years.
Well January is done and it’s time to take a peak at sales and see if buyers are active. I have nothing for you to compare to so I want to start by showing you the sales each year since 2007. Then we can get into the details of January’s sales.
By the way, expect to see higher attached home sales because of the new developments of town houses in recent years.
Year by year comparisons always reveal some interesting facts. We can clearly see that there’s a little way to go to exceed the sales in 2007 but what I find more interesting is how consistent the four years in between were, especially for single family homes. 2012 was a much better year that 2011 with sales up 22%.
Lake Zurich Home Sales January 2013
Now we have some raw data to use as a comparison for this year, it’s time to look at last month.
- Single family homes sold – 11
- Condos and Town Houses Sold – 0
January is always a low month for closings, remembering these buyers likely started their contracts back in November or December. No doubt there will be higher numbers to report in February and March.
- Average marketing times for the 11 closings – Just 83 days.
- Average sale price $276,864.
- Sale ratio was 97% of asking price.
All of these indicators tell us that buyers are no longer in the driving seat here. So if you are buying in this popular town, be prepared to pay market value, low ball offers will get laughed at now. Sellers can likely comfortably wait for the right offer without too much stress. Make your offer, the first offer, the best offer. Start your home search today.