With summer almost over lets review what is happening in 3 small villages outside of Aurora, IL....the 2nd largest city in the state.
2009 July July 2009 2009
Town Single Family S/F Attached S/F YTDSF S/F YTDAF S/F
Montgomery 20 8 7 6 133 62 36 23
Oswego 29 13 8 3 168 63 51 19
Yorkville 17 6 5 1 111 40 19 9
Aurora 119 51 43 17 590 269 236 83
2008 July July
Town Single Family S/F Attached S/F YTDSF S/F YTDAF S/F
Montgomery 23 5 1 1 137 15 31 5
Oswego 30 1 5 0 184 11 70 4
Yorkville 19 2 5 1 124 8 34 2
Aurora 121 22 44 7 678 * 346 *
Total 2008 1108 555
The numbers clearly show that short sales/foreclosures are over 40% of the closed sales in 2009 vs. 2008. We are behind in actual sales from 2008 but the margin isn't really wide in most cities. July was pretty close to 2008 volumes.
The rest of the year should be interesting. Hopefully, more 1st time home buyers will take advantage of the $8K credit and snatch up some of the good bargains available in short sales and foreclosures.
Become a statistic - Buy a Home in 2009!
*Separate Indicators for Foreclosure/Short Sales not started until mid-2008
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