29 Sep
How is the market?
Posted by Alice  |  Real Estate

We are being told via numerous news outlets that the Real Estate Market is up this year throughout the United States. Are you wondering if DuPage and Will counties are improving as well? The answer is YES!

The data for Single Family homes through August of 2013 shows some of the strongest gains in the last 3 years!  Here are answers to some the most common questions:

  1. What is the average number of Days on the Market?
    • We had our lowest in August with an average of 54 days on the market.  A huge drop from 109 days from April 2011
  2. What is the average Sale Price?
    • This is tricky because neighborhoods very and differ so much. But in Will and DuPage counties the average sale price peaked in June of 2013 at $289,000 up from $214,000 in January 2012
  3. What is the inventory like in our area?
    • Like most of the United States we are at the lowest! August had an inventory of 5,249 homes and 1,604 homes sold.  In August of 2012, there was an inventory of 7,074 and 1,264 homes sold.  This shows there are more people buying however much less to chose from. (Hint, hint, great time to SELL!) September of 2010 there were 9,777 homes and only 726 homes sold (Buyers Market)

This is exciting news for the housing market!  We are happy to see it is coherent with the national average.  If you have any questions or are trying to decide if it is a good time to sell your home, give us a call.  We are happy to answer your questions.

**Based on information for Single Family Homes from Midwest Real Estate Data LLC for the period 8/31/2010 through 8/31/2013. Due to MLS reporting methods and allowable reporting policy, this data is only informational and may not be completely accurate. Therefore, The Alice Chin Team and Coldwell Banker Residential Brokerage does not guarantee the data accuracy. Data maintained by the MLS’s may not reflect all real estate activity in the market.

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