With all of the news on t.v. and talk on the radio, you might be wondering how the value of your Plainfield IL townhouse or duplex is doing. Many homeowners today are keeping a close eye on their Plainfield IL property values with good cause.
While there is definitely depreciation going on in the market, there are other factors contributing to the health of the Plainfield town home and duplex market.
The volume of sales for the attached single family market in Plainfield IL is down drastically from March of 2008 when compared to March of 2009 by approximately 72%. There has also been an increase in market times of about 26% for those sales on average, meaning it’s taking about 26% longer to sell 72% less homes.
The townhome and duplex market in Plainfield IL has suffered an approximate 19% decrease in property value on average in March 2008, when compared to the same month in 2009.
Homes are still sold at approximately 95% of their asking price in both 2008 and 2009, meaning that for reasonably priced townhomes or duplexes, homeowners could expect to get about 95% of their list price and concede about 5% in the process of negotiation.
Plainfield IL Townhome and Duplex Market Data For March 2008:
Plainfield IL Townhome and Duplex Market Data for March 2009:
If you or someone you know has a property to sell in Plainfield IL, call me at 630-673-6233.
If you are behind in payments or in foreclosure, you may qualify for a loan modification or short sale. Call me to confidentially discuss the possibility of avoiding a foreclosure through one of these options.
Julie Ferenzi | Realtor®
Plainfield IL Homes for Sale