The Lake Zurich real estate market is hopping! In general I am going to only refer to single family homes in Lake Zurich, because that represents the bulk of our home sales. We’ve got 86 available homes, we’ve got another 55 homes under contract. Time to dig a little deeper and look at some trends. I’ve prepared some market activity charts to help buyers and sellers understand the market as it relates to them. Sellers can plan a sale for 2016 and buyers can understand how strong offers need to be.
Average Marketing Times For Homes in Lake Zurich
Going back as far as 2007 it’s clear to see the real estate market in Lake Zurich has recovered. As sales climbed, average marketing times declined, considerably. Years 2013/4/5 show it should take less than 3 months to sell your home.
Asking to Sale Ratio for Lake Zurich Homes Sold
Homes in Lake Zurich on average sell around 95% of the final asking price. Similar to the chart above we can see that 2013/4/5 and solid performing sales years with homes selling at 97% of asking price. This is important information for Lake Zurich home buyers. Low ball offers are out! The Lake Zurich real estate market won’t tolerate them.
2016 Home Sales in Lake Zurich
It’s always a slow start to any real estate market in the midwest. We are driven by factors including the weather, holidays, school holidays and vacation times. Spring and summer are our busiest times of year. So to look at sales in Lake Zurich for January through today would give a skewed view. Average market times will be longer and sales will be sluggish. So rather that post that data, I’ll hold off for a few more months. Let’s come back in June and see how the Lake Zurich real estate market is fairing.