The Lake Zurich Real Estate Market Overview for October 2019

October 09, 2019 - /PressAdvantage/ - The Property Up team has analyzed the October 2019 statistics for the Lake Zurich real estate market and has determined that there is a balanced market.

Properties are selling at about market value. This is supported by the fact that in September there were 18 homes in which buyers paid under asking price, 3 where they spent asking price and 1 where the buyers paid over asking price.

In October there are 195 homes actively for sale, and 323 homes were sold in the past year. This helps analyze that there is approximately a 7.24 month supply of homes, which is about the same as last month.

Compared with a year ago, there are 10 more homes for sale than there were in October 2018 when there were 185 for sale, and in 2019 there are 195. The market is a bit more active in September 2019 when 22 homes were sold. There were 21 homes that sold in September 2018.

Single-family homes were selling in September 2019, with 20 single-family homes sold as well as 2 condos.

The market picked just slightly in September compared with August 2019 with homes selling approximately 7 days quicker. In August homes sold in an average of 41 days and in September that figure fell to 34 days. Condos sold slower, however. The average days on the market for Lake Zurich condos was 128 days in September, compared to just 37 in August 2019.

There is good news for buyers overall in Lake Zurich as prices continue to trend downward. In August the average list price was $360,000. In September it was $352,000. The median sold price also decreased from $337,000 in August to $328,000 in September. This does not necessarily mean the same homes for sale in Lake Zurich would see this type of decrease, but the overall average of homes listed showed this decrease.

Based on recent sales, buyers with a budget between $135,000 and $232,000 might expect to be able to find up to a 2.8-bedroom home, a 2-bath home and perhaps a 1800 square foot home.

Buyers with a budget of $232,000 to $477,000 would be able to find 3.5 bedrooms, 2.2 baths, and about 2000 square feet.

Buyers over $477,000 were buying homes with 5 bedrooms, 4+ bathrooms, and above 3500 square feet.

###

For more information about PropertyUp, contact the company here:

PropertyUp
Alina Herman
(847) 847-4711
assistant@propertyup.com
18-5 E Dundee Rd Suite 200, Barrington, IL 60010

ReleaseID: 60031642

Latest News

Huawei exec: Chinese tech giant wants to be 'transparent'

Oct 23, 2019

WASHINGTON — A top executive of Chinese tech giant Huawei said Friday that the company is prepared to be "open and transparent" as it looks to persuade the U.S. government that it can be trusted and that national security concerns about its technology are unfounded. "The first thing we need to do is we need to demystify this company," Paul Scanlan, chief technology officer of Huawei's carrier business group, said in an interview with The Associated Press. "We are a Chinese company, we are based in China, the majority of the people are ethnically Chinese, so there's nothing to say...

Native American group seeks to slow Alamo church renovation

Oct 23, 2019

SAN ANTONIO — A Native American group is calling on officials to slow down the renovation of the Alamo church in San Antonio, after archaeological reports showed human remains were found at the property. The Tap Pilam Coahuiltecan Nation filed a federal lawsuit last month seeking to halt the $450 million makeover of the sacred shrine that's on track to be completed by 2024. The San Antonio Express-News reports the group wants a say in what happens to unearthed human remains because many group members are descendants of people who lived near the site. Ramón Vásquez, an executive member of...

China criticizes Apple for app that tracks Hong Kong police

Oct 23, 2019

HONG KONG — Apple became the latest company targeted for Chinese pressure over protests in Hong Kong after the ruling Communist Party's main newspaper criticized the tech giant Wednesday for a smartphone app that allows activists to report police movements. HKmap.live, designed by an outside supplier and available on Apple Inc.'s online store, "facilitates illegal behavior," the People's Daily said in a commentary. "Is Apple guiding Hong Kong thugs?" the newspaper said. Beijing has pressed companies including Hong Kong's Cathay Pacific Airways to take the government's side against the protests, which are in their fourth month. Apple didn't immediately respond...

APNewsBreak: US government unveils final Utah monument plan

Oct 23, 2019

SALT LAKE CITY — The U.S. government's final management plan for land in and around a Utah national monument that President Donald Trump downsized doesn't include many new protections for the cliffs, canyons, waterfalls and arches found there, but it does include a few more safeguards than were in a proposal issued last year. The Bureau of Land Management's plan for the Grand Staircase-Escalante National Monument in southwestern Utah codifies that the lands cut out of the monument will be open to mineral extraction such as oil, gas and coal as expected, according to a plan the agency provided to...

Shard reveals how Cyprus' ancient kingdoms managed economy

Oct 23, 2019

NICOSIA, Cyprus — The discovery of a small clay shard inscribed with a partial inventory of goods at a 2,500-year-old citadel suggests that Cyprus' ancient city states "more than likely" managed their economies using a homegrown system, not an imported one, an archaeologist said Wednesday. University of Cyprus Professor Maria Iacovou told The Associated that the recent discovery at the ancient kingdom of Paphos on Cyprus' southwestern coast refutes the notion that Cypriot city states managed their economies based on systems brought over from foreign kingdoms, like those of neighboring Phoenician city states. The inscription on the shard was in...

About Us

Science Thread delivers quality and fascinating science and technology content that matters on a daily basis and makes it go viral.