Real Estate Market Conditions

May 2012 McHenry Real Estate Market Conditions

May 11, 2012

The Real Estate Market still is showing clear signs of recovery. It feels like the calm before the storm. There is a sense of confidence not sharp but dull, calm confidence.

Tax bills are out and there are some unhappy people right now and justly so. Values are down and homeowners fought hard to have their assessments reduced only to find out 6 months later the tax multiplier was raised (particularly in Nunda Township) to nullify any strides they had made to reduce the tax burden. Consequently many are right back where they started.

Here is what the market looked like the past month:

There were 49 closed detached single family homes ranging from $15,900 to $610,000 and 6 closed attached single family homes ranging from $32,250 to $170,000. Showing a big jump in closed Detached transactions the past month and slightly less attached homes closing.

Currently there are 430 detached single family homes listed for sale ranging in price from $29,500 to $2,195,000. This is a slight percentage less than last month not typical of this time of year.

There are 78 attached single family homes listed for sale ranging in price from $29,900 to $259,900. This shows a large increase in attached homes on the market, which is typical of this time of year.

The Roller coaster continues. Even stronger demand for rentals which are making
rents higher. Appraisal based value problems continue. Large percentage of available properties continue to be short sales vs. reo/bank owned and regular market.

See you in June, Ahhhhh Summer…. Yes!
By Jill and Sean Ryan

April 2012 McHenry Real Estate Market Conditions

April 13, 2012

Hope everyone had a glorious Easter!

April 2012 is showing signs of “we are at bottom” and “houses are going to go up in the near future”. Many articles are surfacing stating the obvious that buying a home is less than renting a home; definitely true especially in attached housing.

March 2012 was a very good month for sellers with many home sales for regular market on the up rise. The market is still flooded with short sale properties resulting in a cloudy real estate picture. Throw out the short sales and foreclosures (which are being bought up quickly at discounted prices) and there are not many quality, well priced properties on the market. If this continues a natural supply, demand shift will occur.

There were 34 closed detached single family homes ranging from $18,000 to $399,900 and 9 closed attached single family homes ranging from $50,000 to $105,000.

Currently there are 442 detached single family homes listed for sale ranging in price from $14,900 to $2,400,000 and there are 63 attached single family homes listed for sale ranging in price from $29,900 to $199,000.

Active detached homes remain constant; detached active listings dropped substantially.

Outside factors to help the real estate market; gas prices coming down, unemployment coming down.

Commercial leasing very strong in comparison to last year at this time.

By Jill and Sean Ryan

March 2012 McHenry Real Estate Market Conditions

March 12, 2012

March 2012 McHenry Real Estate Market Conditions

By Jill and Sean Ryan

March 2012 is offering a sense of credit relief in the near future. Many articles are surfacing to support a housing recovery or at least a stop to the housing downturn.

February 2012 was a competitive month for us, multiple offer situations for our buyers. For our sellers buyers who provided offers to low to come together. The buyer “I am offering rock bottom” mentality exists for the time being but looser credit and less inventory may change that.

There were 26 closed detached single family homes ranging from $32,000 to $357,000 and 11 closed attached single family homes ranging from $29,900 to $126,000.

Currently there are 441 detached single family homes listed for sale ranging in price from $20,000 to $2,400,000 and there are 74 attached single family homes listed for sale ranging in price from $29,900 to $199,000.

Very consistent stats looking at January compared to February of this year.

A very mild winter and record breaking warm March has made showing & selling homes this year a pleasure.

The biggest factor remains credit availability to first time homebuyers in conjunction with inventory. Homes being offered for sale with FHA or VA financing are commanding the highest dollar. Homes being sold “as is” or Short are the best bargain; cash is king.

Investors are still enjoying a strong rental market and reasonable gains on “flips”.

February 2012 McHenry Real Estate Market Conditions

February 14, 2012

Spring is in the air! How did January of 2012’ in the McHenry Real Estate Home Market do? Lets’ take a look at the stats for the month of January….

There were 27 closed detached single family homes ranging from $18,000 to $313,431 and 11 closed attached single family homes ranging from $51,000 to $129,000 with $1800 in points.

Currently there are 436 detached single family homes listed for sale ranging in price from $20,000 to $2,400,000 and there are 71 attached single family homes listed for sale ranging in price from $29,900 to $199,000.

Comparing January of 2012 to January of 2011…

Closed Listings 41 up 17.1%
Under Contract 57 up 131%
New Listings 99 down 9.2%
Listings for Sale 527 down 28%
Market Time 139 days down 24.5%
Average List Price down 7.8% or $175,855
Average Sales Price down 28.7% or $124,820
Median Sales Price down 11.8% or $97,500

We continue to see a trend to lower inventory and a significant change in listings under contract with a slight rise in closed listings comparing January 2011 to January 2012.

The Ryan Team looks forward to an exciting month of Feburary. Beat the Winter Blues and Mark your calendars for the Wauconda Chamber of Commerce Expo. Please visit us at Both G15 (we are the first booth walking in the main exhibit). We will have literature on hand, games, prizes, raffles & giveways. One Real Estate Expert will be on hand at all times to answer any real estate question you may have. Joining us will be Elizabeth Méndez-Larsen with Prospect Mortgage to answer any of your real estate financing

January 2012 McHenry Real Estate Market Conditions

January 7, 2012

McHenry Real Estate Market Conditions – Jan 2012

Since it’s the New Year it’s a great time to take a look at what happened in 2011’ in the McHenry Real Estate Home Market....

Detached Single Family

Median Sales Price $135,000 down 15.6%

Average Sales Price $161,575 down 12%

Average List Price $224,775 down 11.8%

Average Market Time 173 days down .8%

Percent of Orig Price Received 85.1% down .8%

Homes for sale 570 down 8.9%

New Listings 1016 down 17.2%

Attached Single Family

Median Sales Price $82,500 down 28.6%

Average Sales Price $93,142 down 21.7%

Average List Price $112,509 down 24.6%

Average Market Time 166 days up 5.1%

Percent of Original Price Received 82.2% down 6.7%

Homes for sale 114 down 23.3%

New Listings 214 down 20.4

Seems to be a trend towards less inventory which peaked at the end of 2009. A sharp decline thereafter and a minor but steady increase in closed sales. Detached housing being hit the hardest. New listings decreasing quite a bit in 2011.

From a personal business standpoint December 2011 and the start of 2012 has been the busiest we have seen for over 25 years.

Homebuyers it is and remains to be a fantastic opportunity to buy! Low interest rates remain hovering in and around 4%. Freddie/Fannie Mac “Homestep” homes are great opportunities to buy at foreclosure prices but at “fixed-up” condition. Many times a 2 year home warranty is included to owner occupants.

HUD home are another option to buy below market. However HUD homes can be very challenging to purchase. Upside is owner occupants/first time homebuyers sometimes have incentives.

See you next month!