RealEstateBuyMe.com: Hoffman Estates IL Homes - How long will it take to sell?

This is the 'Months Supply of Inventory' for Hoffman Estates IL Single Family Homes for 2009.

This number is also called the 'Conversion Rate' or the 'Absorption Rate' which is how long and how much inventory is on the market in that particular town. Obviously, the higher the rate, the longer the market time for homes in that community.

Does your agent know the 'Absorption Rate' and will they share that information with you? It shouldn't be kept a secret because it plays a pivotal role in how your home should be marketed.

So we obviously have different levels of 'Absorption' in the market and I've tried a new visual demonstration for you.

• Q tip Rate - nothing much getting sold.
• Toilet Paper Rate - I think a few Buyers are out there but they are just sitting there and spinning their roll.
• Empty Toilet Paper Rate - Just OK, nothing terrific, steady as she goes, things are looking up!
• Generic Paper Towel Rate - Buyers are remembering about the tax credit deadline, still cautious and mulling over values.
• Bounty Towel Rate - This is where Sellers might see a micron of appreciation. The market is faster than this 'picker upper'.
• Fluffy Towel Rate - Pretty darn good, feels good too!
  
• Sham Wow Rate - This is the good old days of Real Estate!  Homes don't sit on the market at all!  Sellers are happy and Buyers are mad during this level. All is right with the world!

Well, let's come back to earth and discuss the current market for Hoffman Estates IL homes! Good news is that the inventory is down by 28% over a year ago of December 2008. Either people are not moving and have given up or rented their homes.  

December 2009's sales rate was 14 homes under contract vs. November's 17. Down by nearly 20%. December and January are usually slow months and sometimes even slower depending upon how much snow we get! 

This is the official rating for Hoffman Estates   

Past Post - Hoffman Estates Supply of Inventory June 2009