Friday, November 9, 2007

Slight pickup in activity

We had a slight pickup in activity yesterday & I can already see some things coming through for today.

In yesterday's BG Single Family Home action
-2 properties went under contract
-3bed 3.5bath @ 604 Caren is under contract & had a list price of $424,900
-4bed 2.5bath @ 1010 Hobson is under contract & had a list price of $519,500
-3 New listings
-3bed 2bath @ 880 Shady Grove listed for 319,900
-4bed 2bath @ 488 Lauren listed for $349,000
-3bed 2bath @ 579 Sycamore listed for $359,500
-830 Wedgewood was reduced from $899,900 to $879,999
-2 Closings
-761 Woodhollow closed for $324,000
-2108 Birchwood closed for $615,000

Attached market was much slower
-161 Fabish a 2bed 2.5bath in Old Farm went under contract with a list price of $254,900
-New listing @ 8 Oak Creek....a 2bed 1bath condo for $159,900
-20k price increase? 860 Weidner was $299,900 & is now @ $319,900

It was good to see action in the Single Family home market again, actually very good to see at this time of the year.

I know this is a Real Estate blog, but today we saw another terrible move to the downside in the stock market.
11/9/07 Dow -1.69% Nasdaq -2.52% S&P -1.43%

What does this have to do with the Buffalo Grove Real Estate market?... Actually a lot. These recent moves down are due to credit concerns with more banks reporting more problems. This effects consumer confidence, lending, & the list goes on & on. Hopefully we'll see a turnaround soon, but I'm personally doubtful....I've been wrong before & hopefully I'll be wrong about this.

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