Local Real Estate Market Data –
Southwest Illinois Multiple Listing Service First half of 2010: The data below shows we’re normalizing and all moving in the right direction.
Significant, and consistent with what we’re finding locally, the list to sell ratios have stayed about the same, as well as the days on market. We’re finding that values have really not changed much, (comparing it to national data where reports of continued value losses abound.) And these days on market for good properties are not significantly different than in boom times…it takes 60-90 days at best to close on a listing. (There are homes for sale that have been on the market for extremely long periods of time, usually because of problems. A minimum of those must be included here, or the averages would have been higher.)
We do observe that the second quarter showed more interest in higher-value homes, probably a result of the termination of the first-time buyer incentives at the end of April.Finally, it’s consistent with our experience that good product, even in these days, does not stay on the market long. We’ve experienced some competition, even, on these. We persist in believing it’s truly a great time to buy a home. Earlier comments about “The Perfect Rainbow” are valid, provided extreme care is used in the purchase process.
So, residential sales for the first 6 m0nths of 2010:
Madison County sales were up 21.39%
St. Clair County sales were up 20.24%
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on Saturday, July 10th, 2010 at 4:01 pm and is filed under Local Homes Markets.
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