And more importantly...where should I price my home to SELL?
For those sitting on the fence about market value and what homes are actually selling for... read on!
O'Fallon IL so far in 2009:
90% of the homes closed for less than $300,000. These homes averaged about 141 days on the market or about 4.5 months.
The days on market for those homes over $300,000 soars to 208 days or about 7 months.
The Real Estate Market for June 2009 showed much the same as above.
85% of homes closed in O'Fallon IL in June 2009 closed under $300,000 with a market time of just under 4 months. Jump over $300,000 and market time increases to over 6 months.
So... pricing as always is very critical. In some cases a homeowner may be better off pricing more competitively for a faster sale (fewer house payments, taxes and insurance) than going a bit higher to "see" what may or may not happen. Price = Time. This will become even more important as summer draws to a close. Fall and winter historically bring fewer home sales and elevated market times.
Hope everyone had a safe (dry) and enjoyable 4th of July weekend!
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