August 2009 Real Estate Market Update for O'Fallon IL.

In August 39 homes closed in O'Fallon IL.  This is down from June (48) and July with 45. Of those 39:

4 were new construction and had an average sales price of $239,769 and 92 days on the market.

35 were re-sale homes with an average sales price of $179,956 and 134 days on the market.

Monthly totals for 2009

August Totals 2005-2009

Year to date totals 2005-2009

The magic number still seems to be below the $300,000 mark.  Of the 38 homes that closed in August 37 of them closed BELOW $300,000.

Currently there are 253 homes for sale in a wide variety of price ranges.  With the tax credit potentially coming to a close this is an opportune time to purchase.  For more info on the credit see below!