49 % of homes sold in Kane county in 2012 were distressed sales. 6546 residential properties sold in 2012 according to MRED MLS and of these 3216 were distressed sales. A distressed property is a short sale, foreclosure, auction or court ordered sale.
2013 enters with a slight increase in housing inventory in the suburban Chicago
With the exception of St. Charles, the Fox Valley area continues to see a very slight decrease in the housing inventory levels.
The market continues to steadily absorb the current level of housing inventory in the far western suburbs of Chicago. Is this indicative of a bottom in our real estate market? or just evidence that summer is the busy buying season here in Illinois?
According to the stats from Illinois Association of Realtors (IAR) the median home price for Kane County has declined 8.4% while the number of SF units sold increased from by 18.3% (July year over year).
The average home price for Kane County declined 14.5% .
So here in Kane county we are seeing an increase in the number of units sold while prices are still declining. More units are moving at the lower prices.
Are you researching schools in your search for a new home? Check out this recent article from the September 2012 issue of Chicago Magazine noting the best schools in Kane County.