I just finished going through April's market numbers (I know... it's a little late since we are almost done with May, but better late than never!) and it looks like there is still a lot of opportunities in the market! Here is a recap:
For market activity in April, here are the numbers. The stats are YTD, compared to the YTD numbers for April of last year:
Number of New Listings are down over 20%
Number of Pending Sales are down over 30%
Number of Closed Sales are down over 27%
Average Days on Market have increased almost 10% to 89 days
The Median Home Price has decreased 6% = $108,000, which is still above the Median Home price for 2007 = $106,250
The List Price to Sale Price Percentage has dropped to 91.2%, which is the lowest it has been in over 6 years!
The Housing Affordability Index is 215, which is up over 12%, and it is a great indicator of just how affordable it is to live in the Peoria area! The baseline is 100...
Here is the supply of single famile, pre-owned homes, in terms of months of inventory, in the market:
Overall - 6.2 months
Up to $75,000 - 4.5 months -- A seller's market!!
$75,001 to $125,000 - 5.7 months
$125,001 to $225,000 - 6.0 months
$225,001 to $500,000 - 10 months
$500,001 and Up - 20.4 months
So depending on what price range you are looking at, the market is in a different level of activity. And it will mean something different for a buyer or a seller as well. If you have any questions about any of this information or would like to know more about this market please let me know. It would be my pleasure to help in any way that I can!
Thanks,
Brian Rule
Realtor - The Rule Team
Keller Williams Premier Realty
309-303-0557
brian@TheRuleTeam.com
www.TheRuleTeam.com
http://DigitalCompass.acnrep.com
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