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May 2007 Home Sales in Rock Island Illinois Drop 31.7%, Prices Decline 14.9%, From May 2006!
Real Estate Market Report of Home Sales for May 2007 for Rock Island, Illinois:
                                                                                                 
May 2007 Home Sales in Rock Island Illinois Drop 31.7%, Prices Decline 14.9%, From May 2006!
REALTOR-assisted "Closed" single-family home sales in the city of Rock Island, Illinois decreased by a significant 31.7% in the month of May 2007, down from the same period in May 2006.
With 28 closed sales transactions in May 2007, the Rock Island market showed a decrease of 13 units (31.7%) from the May 2006 total of only 41 closed sales transactions.
On an even more discouraging note for home sellers, the average sales price of home sales that closed during the same period show a decrease of 14.9%: down from $90,369 in May 2006, to $76,848 in May 2007.
The average number of days on the market (from home listing date to sale pending date) increased significantly as well, from 23 Days in 2006, to 47 Days in 2007, a increase of 51.1%.
The list price to sales price ratio, (reflecting the percentage of the last recorded listing price of a property versus what the property eventually sold for) remained virtually the same, 97.6% in 2006 to 97.5% in 2007. 
The Quad-City Area market is made up of the cities of Davenport, Bettendorf, LeClaire, Eldridge and Blue Grass, in Iowa. And Moline, Rock Island, East Moline, Silvis, and Milan, in Illinois.
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