Market Update by Price Range - April, May, June 2009

Diligently trying to keep both buyers and sellers informed on the local Elgin Illinois housing market has been my goal for many years.  This market update gives you the number of homes that have sold by price range so you get a feel for the current sales activity.  Which is up by the way!

75% over the last quarter!

Is it the $8000 Tax Credit?  Is it the lower interest rates?  Or maybe just great values in the area? 

How can you use this information if you are a buyer?   The price range that you are thinking of purchasing in, is it one of the more active price areas of the Elgin market?  It would be telling you that there are a lot of other buyers also in your price range all looking for that 'deal!'  

How can this information help you if you are a seller?  If you are planning on selling your home in Elgin soon, you can see which price ranges are the most active.  Clearly the price range above $250,000 has been non-existent and rarely sales have occurred.  You might have to plan accordingly for extra market time.  As a seller, you have to be sure that your home's curb appeal and presentation is ‘spot on’ in a market like this.  Possibly some extra updates and staging might be required before you put your home on the market.  Do you know what the average market time is for your price range?

For the Elgin Multi-Family Home Sales from April to June 30th, 2009 you can clearly see that over 68% of the closed sales have been under the $250,000 price range.  The lowest sales price was $16,250 and the highest was $252,500.

What about foreclosures Lyn?  Of those 44 total sales, 15 were foreclosures and 3 were short sales.  Most of those foreclosures were under the $100,000 price.  Probably a lot less than what you expected right?

Looking for a market expert to help you sell your home in the area?

Looking for a great home in the area?

   
      Lyn Sims (847)230-7324
           at RE/MAX Suburban

The Blog Dog and I proudly serve and sell real estate in the Northwest Suburbs of Chicago.  If you are thinking about purchasing or selling your home in the communities of Schaumburg, Hoffman Estates, Elk Grove Village, Roselle, Palatine, Medinah, Itasca, Bloomingdale, Carol Stream, Bartlett, Hanover Park, Streamwood, Elgin, South Elgin, St. Charles and more importantly, want to work with a local area expert, contact me immediately.

Resources:  MRED MLS of Northern IL, my little calculator and golf pencil.

Elgin Illinois Multi-Family Market Update by Price Range ©2009 Lyn Sims - TheBlogDog.net