Thirty existing homes were sold in Edwardsville, Illinois during June 2009 at an average sale price of $178,187. Resale homes that closed during the month had been on the market an average of 119 days.
New home sales in Edwardsville continue at a low pace with just three sold in June. The average new home price for those sold during the month was $298,333 and they had been on the market an average of 322 days prior to closing.
In July 2009, no new homes were sold in Edwardsville and 33 existing homes closed. The homes that closed during the month had been on the market an average of 139 days prior to selling and sold at an average price of $176,356.
Currently, there are 214 active resale homes on the market in Edwardsville and 20 new construction homes. At July's sales pace, that means there is more than 6 months worth of existing home inventory available in Edwardsville.
What does this information tell a seller in the current market? That your home should be priced correctly and be presented in the best possible condition to rise to the top of the choices in your price category. Don't "test" the market with a price higher than recent comparable sales to "see what happens." What will happen is this: buyers will turn to properly priced properties and write offers while your home lingers on the market.
Questions about what your home could sell for today? Email, call or text me and we'll set an appointment to look at your property.
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