Market Snapshot: Current Inventory

Here's a quick look at current inventory levels for available properties in Thornwood:

Single Family Homes: 25 active units in the MRED MLS...13 of these are under contract.  Monthly rate of sales is 3.7 units closing per month. Month's supply  of  inventory is 6.8 months!

Townhomes: 10 active units available in the MLS...7 of these are under contract. Monthly rate of sales is 2.3 units per month and therefore the month's supply of inventory is 4.3 months.

Anything above 6 months supply is a buyers market and under 6 months is a seller's market.  These numbers for Thornwood are more favorable than overall Kane County which has a current months supply of inventory of  7 months.

Silver Glen and Randall Roads

Did you know...?

School district #303 owns 45 acres of  vacant land on the southwest corner of Randall and Silver Glen Roads? Just FYI...

Bargain Home in Thornwood

I have to let you know when I see a good price on a property in Thornwood and not many FNMA homes come on the market in this neighborhood. But a new one just came on the market and it's worth a look.

Inventory Levels in Thornwood

Homes in Thornwood are selling quickly!
Currently, there are 28 homes on the market in Thornwood....14 of these are under contract.
Based on a sales rate of 6 SF homes per month, Thornwood has a 4.7 month's supply of inventory. Under 6 month's is a seller's market.  Compare this to Kane County overall where there is an 8 month supply of housing inventory.   This neighborhood is in demand .

2012 Third Quarter Sales

The average price per square foot for single family homes went up slightly in Thornwood for the third quarter of 2012. Listed here are the sale for Third quarter 2012 ( July 1 - September 30). Click directly on the image to increase the size.

Price per square foot for sales in Thornwood, South Elgin, January - June 2012 IL

All sales in the Thornwood subdivision are posted here for the first half of 2012. Interestingly, the average  price per square foot remains $116...the same at the last half of 2011 (see my previous posting for prior numbers). Square footages include above grade area only and  are obtained from the township assessor and are deemed reliable but not guaranteed. Other info obtained from MRED multiple listing service. (To enlarge click directly on the image) 

Haines Middle school chosen as one of top 5 in Kane County (2012) by Chicago Magazine

The public schools serving a community are always an important factor to consider when deciding to purchase a home. Haines Middle school (district #303 serving Thornwood) has been chosen as one of the top 3 in Kane County. I am proud of the students, staff and parents at Haines. Congratulations!
Read more here in this month's Chicago Magazine 

Townhome Stats First Half of 2012

Here is a summary of 2012 first and second quarter stats  (January 01, 2012 through June 30, 2012)  for the townhome units in the  Thornwood neighborhood.

• 7 town homes sold in Thornwood with an average marketing time of  98 days.
• $120,000     Median town home price.
• $ 116,250    Average town home price.
• $ 120,000     Highest price town home sale.
• $ 105,000     Lowest price home sale.

Only 15% of homes listed for sale actually sold--- 83% expired or cancelled. The sold price as a percentage to ORIGINAL list price is 62 %.

Thornwood Housing Stats for First half of 2012

Here is a summary of 2012 first and second quarter stats  (January 01, 2012 through June 30, 2012)  for the single family detached homes in the  Thornwood neighborhood.

•  28 Single Family Homes sold in Thornwood with an average marketing time of  132 days.
• $345,000   Median home price.
• $361,208    Average home price.
• $ 550,000   Highest price home sale.
• $ 225,000   Lowest price home sale.

Only 27% of homes listed for sale actually sold--- 73% expired or cancelled. The sold price as a percentage to ORIGINAL list price is 77 %.

Scroll down through the older posts to compare this to the year- end 2011  and you will see that the market is still following a downward trend as all categories listed here went down. Average single family home price decreased by 5.0% and the median SF  home price decrease by 5.5%.

Report Card Links to District #303 schools serving the Thornwood community

The quality of the schools within a community has an effect on property values.  I have included some links below  to the Chicago Tribune report card for area schools. I encourage potential homeowners to research the schools before making a decision to purchase.

You will find additional information at my website: www.FoxValleyResidential.com (scroll down on the left hand side to click on "Information on Illinois schools)



Chicago Tribune Report Card for Corron Elementary School

Chicago Tribune Report Card for Ferson Creek Elementary School

Chicago Tribune report card for Haines Middle School

Chicago Tribune Report Card for St. Charles North High School


Important Follow-up Link about the federal standards

Housing Inventory Levels in Thornwood

Absorption Rates are one market indicator that Realtors use to determine the overall "health" of the housing market. It is the rate at which the market is absorbing the current level of inventory. I post absorption rates on a monthly basis on my blog (at www.foxvalleyresidential.com).
But I tract the rates for the Thornwood neighborhood specifically.

As of today's date Thornwood has 3.5 months of single family inventory but the townhomes have 9.6  months supply of inventory. Its a good time to be a seller in the single family market and a buyer in the townhome market.

Just as a basis of comparison Kane County has 8.8 month's supply of single family inventory and 9.8  month's of attached housing inventory.

So Thornwood  fares significantly BETTER as a neighborhood than the greater Kane county area while the townhomes are right in line with the county overall.

Water Quality Report is available

The Otter Creek Water District provides water for the neighborhood of Thornwood in South Elgin, IL.

The most recent report for the period 1/1/2011 to 12/31/2011 is available at this link: 

 Water Quality Report for Thornwood Neighborhood

Interesting Facts: 

• Two active wells that tap into the MT. Simon sandstone aquifer at a depth of 1970 feet provide water to the community.
• The district's purification plant uses an ion exchange process for softening and home water softening devices are NOT recommended.

Are you curious about rentals in Thornwood?

The rental market is HOT and very active right now. 

Here I have posted what some recently rented homes in  Thornwood.

Single Family Homes :

5 Ellington, a 4 BR 2600SF home rented in May, 2012  for $2200/month.
651 Watersedge, a 4 BR 3564SF executive  home rented in May, 2012 for $2750/month.
552 Watersedge, a 4BR 3200SF executive home rented in June, 2012 for $2900.

Townhomes*:
207 Nicole unit D. A 2 BR, 1.5 bath Chandler model  rented  in April, 2012 for $1175/month
315 Thornwood Way unit E,3BR, 2.5 bath Everton model rented in June, 2012 for $1500/month.
277 Nicole unit C, 3BR, 2.5 bath everton model, rented in May, 2012 for $1500/month.


*Townhome rentals typically require board approval.


If you want more information about the rental market in Thornwood please contact me at the email/phone listed below.
Info above taken from MRED MLS and believed reliable & accurate but not guaranteed.

38% of available homes are contract pending

As of today...34 single family homes are available on the market through MRED MLS...and 13 of these are under contract thats 38% of the available SF homes.

Just posted! recently closed sales in Thornwood

See photos, dates and sales prices of recently closed sales in Thornwood when you check out the Facebook page photo albums.
Facebook Photo Album of recent sales.

Visit frequently to see updated postings.

This beautiful lakefront home at 686 Lakeridge Dr. sold for $339,000 on 5/14/2012.

HOT market in Thornwood!

Each month I calculate inventory levels for surrounding Fox Valley communities. See my Blog for a table with the month's supply of housing  inventory: Cindy's Blog. I also keep track of inventory levels in Thornwood.

There is 6.4 month's supply of detached housing inventory in the Thornwood. Anything over 6 months is said to be a buyer's market. The month's supply for April was 15 months of housing inventory. SO you can see a large decrease in the homes available in this desirable community.
Just as a basis of comparison the month's supply for Kane County is 11.6 for April and 17 months for St. Charles.
If you are thinking of buying a home in Thornwood don't hesitate...they will go quickly. If you are thinking of selling, this is the best time in months to put your house on the market.

Busy Spring Market in Thornwood

As of today's date (4.16.2012) there are 33 detached single family homes on the market in Thornwood and 16 of these are under contract.

There are 13 town homes available for sale and 4 of these are currently under contract.

If you are thinking of buying, don't hesitate in this neighborhood. Units priced right go quickly!

If you are thinking of selling, now is a great time to to sell, buyers are out there buying.

Easter Egg Hunt, Saturday, April 7

Fun activities are always in the works like this annual Easter Egg Hunt at Gazebo Park in the Southwest section of Thornwood.Find out about more of the neighborhood activities on the Facebook page for the Thornwood Social committee

Bike Trails!

Biking is just one more activity that is available to the residents in the wonderful neighborhood of Thornwood.

Check out these maps that connect Thornwood to miles of beautiful bike trails.

Be sure your map includes google bike map in the legend in order to see how you can get there from Thornwood.

Fox River Trail connects to Thornwood,

From there the trail connects to the Fox River Trail that goes from Algonquin to Aurora along the river.

Here are two more detailed maps from the Kane County Forest Preserve that show you how to access the nature center on the east side of the river.

If you are an avid cyclist and want to find out more about biking in Illinois I suggest you check out www.traillink.com to see the many wonderful trails that are available nearby.

679 Chasewood Drive, South Elgin, IL

View details here Wonderful landscape in the backyard...koi pond, fire pit, paver patio, large trees ...see video here.....UPDATE...this home sold for $360,000 on 5/30/2012. Contact me to see others like it.

Price per Square Foot of homes in Thornwood

Price per Square Foot is one way of looking at the value of a home. It is especially relevant when several other factors are relatively equal. Such is the case when comparing properties within one neighborhood. I have compiled a table of all detached single family sales that occurred in Thornwood in the last half of 2011 (7/01/2011-12/31/2011).

Square footage figures do not include below grade areas (finished or unfinished). But the homes that are at the higher end of the range will most likely have higher quality of finish of the above grade areas and most likely have finished basements.

This snapshot will give you an idea of the range of valuation within Thornwood and help you determine where your specific property falls within the neighborhood.

The range for Thornwood is from $92.00 SF - $155.00 SF and the average is $116.00.

Is your home better than average in finish and features? How does it compare to the most recent sales?

You can find out the square footage of any home from your assessor. Here is a link to the St. Charles Township Assessor to find out square footages for Thornwood. Homes north of McDonald Rd. can be found at the Elgin Township Assessor.

Townhome stats for 2011

Here is a summary of 2011 stats for the townhomes in the

Thornwood neighborhood.

• 16 townhomes sold in Thornwood with an average marketing time of 197 days.
• $128,750 is the Median townhome price.
• $126,438 Average townhome price.
• $151,000 is the Highest price townhome sale.
• $100,000 is the Lowest price townhome sale.

Only 36% of townhomes listed for sale actually sold--- 61% expired. The sold price as a percentage to original list price is 70%.

2011 Statistics for Thornwood

Here is a summary of 2011 stats for the single family detached homes in the

Thornwood neighborhood.

• 37 Single Family Homes sold in Thornwood with an average marketing time of 196 days.
• $365,000 Median home price.
• $380,475 Average home price.
• $645,000 Highest price home sale.
• $255,000 Lowest price home sale.

Only 34% of homes listed for sale actually sold--- 66% expired or cancelled. The sold price as a percentage to original list price is 79%.