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Champaign County Real Estate Market Report, July 2010
Champaign County Real Estate Market Report, July 2010
July 2010 Residential Sales Information Compared to July 2009
The following real estate market information concerns only residential sales in greater Champaign County, IL, and includes houses, condos, co-ops, and zerolots.
July 2010 Closed Sales Statistics:
175 units sold $164,703 average sale price 96.4% sale-to-list price ratio 90 average days on the market July 2009 Closed Sales Statistics:
337 units sold $157,660 average sale price 95.8% sale-to-list price ratio 87 average days on the market  

 
What's going on in Champaign's real estate market?
For a couple of months now I've been pointing out that the number of homes on the market has grown to over 2,000 and has stayed there, and I also noted that the last time we had this many homes on the market was in mid to late 2007. Now, if you take a look at my absorption rate chart below, you'll see that the rate for July skyrocketed up to 11.7!
What this means is that in the past month, the rate of home sales in Champaign County has slowed so that if sales were to continue at that same rate, it would ... more

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