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Champaign IL Housing Market Report 2nd Quarter 2011
Champaign IL Housing Market Report 2nd Quarter 2011
Below you'll find two charts comparing residential sales statistics for the 2nd quarter of this year to the 2nd quarter of last year. Like I mentioned in my recent June report, the average sale price has dropped dramatically this quarter compared to this time last year, and this is largely due to an abnormal increase in low-priced sales. Let me quote the explanation I gave in my June report:
"From January to December of 2010 we had a total of 207 residential sales in the price range of $1 - $49,999. From January to June 30th of 2011, we have already had 208 sales in that same price range, meaning we're on track to have TWICE as many sales in the lowest price range as last year. (Last year 9% of the total sales were in this price range, and so far this year 18% of the total sales are in this price range.) That, my friends, will certainly bring prices down for the year."
In that same report, I also briefly discussed the drop in total number of sales and why this doesn't concern me, at least not at this time. June ... more

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