Fox River Grove Illinois - Real Estate Market Report

Why Fox River Grove Corinne? Well for those who don't know this small town in Northern Illinois it's situated on Route 14 northwest of the Barrington area. It's next door to Lake Barrington and some of the homes are in the Barrington school district boundaries. It's often selected by buyers as an alternative to Barrington because homes are less expensive in Fox River Grove.

I checked and found I have not done a real estate market report for Fox River Grove, so high time I started. Being a small area with just over 5000 residents, there are not hundreds of sales every year but I am pleased to see that in the last 12 months 59 homes have sold.

Fox River Grove home sales and marketing times.

The yellow line is showing the average marketing times to sell homes in Fox River Grove each year. I cannot access data for 2005 or 2006 but you can see from 2007 to 2008 we dipped down and then in 2009 saw a dramatic increase in days. 2010 was much better with 2011 rising slightly.

So what about volume of sales. Look at the blue line. Our high was 2005 with 92 sales that year, 2007 was pretty good with 75 sales then it sank. Going back this many years helps us all to see if things are getting better and it does seem as if we are climbing out from the bottom.

Last piece of data for this report. If the average marketing time is 159 days, how much inventory do we have in Fox River Grove's real estate market, is it a buyers, sellers or balanced market. Well if 6 months is a balanced market, which I think is a fair estimate, then we are still in a buyers market. Based on number of sales last year to number of current listings we have over 14 months of inventory in Fox River Grove. Of course homes sell and new ones are listed so it's a revolving market and we never have no homes available.

I hope this overview has been useful for Fox River Grove residents. If you are considering selling in 2012 ask for a home estimate, it's the best place to start so you can crunch your numbers.