Edwardsville, Illinois Real Estate Market Update
In January and February, 2010, 38 homes worth a total of more than $7.2 million were sold in Edwardsville, Illinois. There were 410 active listings in Edwardsville during those two months.
The average listing price of the homes that sold in January and February was $199,279 and the average selling price was $190,259. That's a list-to-sell price ratio of 96 percent.
The Edwardsville homes that sold in January and February were on the market an average of 153 days.
The highest priced home to sell in January and February was $549,900 -- a 4,050-square-foot ranch on Boulder Drive. The lowest priced home to sell was a 1,116-square-foot, two-bedroom home on Sand Road for $40,000.
Sellers should continue to exercise patience by noting the average days on the market -- 153. Only homes that are correctly priced from the beginning of their listing period and in top condition should be expected to beat that average. So, if you're highly motivated to sell -- cleanup, fixup, declutter, stage and price it right with the expertise of your agent.
Sellers also should discuss recent (within the last three months) comparable sales data for like homes with their agents to determine if they are priced competitively for the current market. Sellers, ask yourself whether you want to LIST your house or actually SELL your house and then behave accordingly.
Home buyers: You're still in a great position to find a terrific place at a price that continues to be affordable. "Affordable" means fair and reasonable and priced according to comparable sales -- not pennies on the dollar. In addition, interest rates continue to be low and choice (homes for sale inventory) -- while not as plentiful as a year ago -- is still abundant in our Edwardsville market. And please don't forget the federal tax credit which can net first-time buyers up to $8000 and repeat buyers up to $6500 if they are in contract by April 30 and closed by June 30. What are you waiting for?