The numbers take a soft turn down as we approach the end of summer...but no fear there...that's normal for the real estate market.....He's the way it stack up for July 2008:
By The Numbers...
For July 2008 Single Family Detached Homes (Information courtesy of MLSNI)
Naperville
Active Listings:1137 (as of 8/01/08)
Sold(7/01/08-7/31/08): 164
Months Supply(Act/Sold): 6.93Months
High Sold Price: $1,417,000
Average Sale: $477,866
Average Market Time:138
July 08 Top Subdivision (sales): Ashbury (10),Tall Grass(7), Spring Hill (5)
Aurora
Active Listings: 1161 (as of 8/01/08)
Sold (7/01/08-7/31/8): 124
Months Supply(Act/Sold): 9.36 Months
High Sold Price: $560,000
Average Sale: $214,216
Average Market Time: 146
July 08 Top Subdivision (sales): Hometown (8), Oakhurst (7) , Stonebridge (3)
Plainfield
Active Listings: 989 (as of 8/01/08)
Sold (7/01/08-7/31/08): 71
Months Supply(Act/Sold): 13.92 Months
High Sold Price: $741,636
Average Sale: $260,880
Average Market Time: 138 Days
July 08 Top Subdivision (sales): Lakewood Falls(6) ,Clublands (5),Wesmere (5)
Oswego
Active Listings: 365 (as of 8/01/08)
Sold (7/01/08-7/31/08): 34
Months Supply(Act/Sold): 10.73 Months
High Sold Price: $453,000
Average Sale: $290,978
Average Market Time: 222 Days
July 08 Top Subdivision (sales): Ashcroft Place (5) Church Hill Club (5)
What concerns me know is lenders 'tightening up' the outstanding equity lines...some as much as by 50% . False impressions to the homeowners as to the actual value...yes, we have seen 15%+ reduction in pricing but is it already time for the lenders to step in and start the stampede? I give the Lenders and Banks a thumb down on that move....you want to create panic? That will do it.
Your thoughts?
-Dawg-
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