For Chicago and Counties of Cook, Kane, Dupage & Lake, April saw more properties SOLD compared to the month before! This is the 3rd month in a row for increased sales. But the numbers are still off from 2008.
Single family home sales were up close to 19%, and sale price went up slightly about 1% compared to April 2009.
For Attached properties like condos and town homes, sale were upo 24% from April, and the average sale price dropped 4%. This could be related to the discounting of single family homes over prior months.
The market is attributed to low interest rates, and property pricing reaching an all time low from seller price changes, bank owned properties selling for .60 cents on the dollar, and pre-foreclosure sales. The market is still driven by bargain hunters... Plus February through July are busier months for property sales.
If you are a seller who wants top dollar your home needs to be special, show like a model, have a perfect location, and limited competition in your neighborhood.
Detached Single Family Homes
Sold: 4/2009 2449 properties 3/2009 2049 properties
Average Sale Price: 4/2009 $263,066 3/2009 $262,010
Average Market Time 4/2009 189 3/2009 191 days
Attached Homes (Condos, duplexes, town homes, etc)
SOLD: 4/2009 1487 properties 3/2009 1195 properties
Average Sale Price: 4/2009 $253,425 3/2009 $264,031
Average Market Time 172 days
Properties Under Contract NOW from March
Single Family Homes: 1004 properties Average List Price $316,974
Attached Homes: 572 properties Average List Price $214,349
Both property types the average list price is down from the month before, as well as the number of properties under contract still. This could be because many investors and buyers on the fence bought in February & March with 30-45 day closings.They may have purchased before pricing went up.... and rates as well.
Want to know your property value? Call or email me...
John Hybl Realty Executives Suburban
JohnHybl@RealtyExecutives.com 630-975-9000
Search 70,000 properties for sale in Chicago & the Suburbs at www.JohnHybl.RealtyExecutivesSuburban.com
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