Greater Champaign County Real Estate Market Activity Snapshot: July 4 - 10, 2010
The following data is for Single Family Residential Homes
New Listings: 92
- Average List Price: $177,608
Pending Sales: 25
Closed Sales: 30
- Average List Price: $179.834
- Average Sale Price: $173,583
- Sale-to-List Price Ratio: 96.5%
- Average Days on Market: 125
Total active listings at the end of the week: 2,049 (39 listings more than last week)
Last week's real estate market report.
Last month's (June) real estate market report.
Summary: One thing is for certain this week: the first-time homebuyers tax credit has passed! As you can see, pending and closed sales are down significantly this week, and what could be problematic is that the number of homes on the market at 2,049 has risen yet again.
I think it's safe to say that many homebuyers bought a few months sooner than they otherwise would have in order to take advantage of the tax credit, and now the activity appears to have declined. Hopefully activity will pick up a little and our market will level out over the next few weeks. *By the way, this is happening in many other areas throughout the country, as well. With the end of the tax credit, it was to be expected (though the media would have you thinking otherwise!).
Any questions? Just leave a comment below or contact me here!
*This information is deemed reliable but is not guaranteed to be accurate.
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