Our Hawthorn Woods real estate market report for the first quarter of the 2017 year will look at how many homes sold each month and compare it to 2016. We’ll report percentage of sales price to asking price and review the average days on market. Then we’ll look at current listings, average sales prices and whether the spring market activity is here.
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- What Does This Mean For Hawthorn Woods Home Buyers
- What Does This Mean For Hawthorn Woods Home Sellers
- Browse Hawthorn Woods IL Homes For Sale
The Hawthorn Woods IL Housing Stats For January Through March 2017
Single Family Home Sales by Month
- January 2017 – 6 sales (compared to 10 in 2016)
- Average marketing time was 195 days
- Average sold price was $477,084
- List to sell % = 95
- February 2017 – 11 sales (compared 11 to in 2016)
- Average marketing time was 258 days
- Average sold price was $508,191
- List to sell % = 95
- March 2017 – 17 sales (compared 16 to in 2016)
- Average marketing time was 155 days
- Average sold price was $504,738
- List to sell % = 97
Attached Homes – Townhomes in Hawthorn Woods Country Club
Hawthorn Woods Country Club is the only place you’ll find townhomes in this country suburban community. There were a few sales during the first quarter and we’ve combined the data which is as follows:
- January – March 2017 – 2 sales (compared to 1 in 2016)
- Average marketing time was 70 days
- Average sold price was $317,500
- List to sell % = 98
Summary of Stats
Hawthorn Woods is a small real estate market sharing the area and zip code with Long Grove, Kildeer and Lake Zurich. The average price for single family homes is consistent. Closings are down on 2016, prices are steadily but slowly climbing and marketing times are declining. The townhomes sell much faster than the single family homes which is good for sellers.
What Does This Mean For Hawthorn Woods Home Buyers
37 new listings have hit the real estate market in Hawthorn since April 1st. Four of those are already under contract. That brings the total to 109 choices with an average asking price of around $620,000. That’s quite an increase in available homes, up about a third, maybe too many too quick which will force a longer marketing time unless they start absorbing at a fast rate. It’s a great choice for buyers! In 2016 there were 165 Hawthorn woods homes sold. Therefore we have an inventory supply of about 8 months.
What Does This Mean For Hawthorn Woods Home Sellers
It’s still leaning towards a buyers market especially with the rush of listings that came onto the market so far in April. While prices are inching up this may cause them to stop again. Contrary to what the media feeds us, real estate is always local and Hawthorn Woods is not the same as Palatine or Phoenix or Miami. SO be aware that it might still take six months to sell and if we see more listings coming onto the market and not equivalent sales, the pressure will be on pricing, yet again.
Spring Is Here
We know it, the weather tells us so. The rush of listings is clearly a spring event, much more so than in Kildeer and Long Grove this year. It remains to be seen if we’ll have as many buyers rushing to Hawthorn Woods as is needed to absorb an influx of listings. We’ll check back in a month or so to see what the answer is!
Relocating to Hawthorn Woods
If you are relocating to our area, Hawthorn Woods is a little less expensive than Long Grove or Kildeer, homes are on acre lots, and we’re country suburban in nature. The schools for Hawthorn Woods are mixed, several boundaries crossing through the village. You can view all available homes using our quick links below. Don’t forget to check out similar homes in Long Grove and Kildeer.