Shorewood, IL Real Estate Market Report 10/10/10
Today, Shorewood, IL has 125 single family homes for sale with a median list price of $249,900. There are 18 homes under contract. The average market time is 221 days or 7.4 months. Prices range from $52,500 to $699,000. See all of these listings at http://www.roakehomes.com
In the last 30 days, 19 homes for sale have closed at a median price of $195,864 and 23 homes have had the listing expire or have been cancelled. Sold homes had an average list price of $251, 164 and were on the market, on average, for 155 days. Expired/cancelled Shorewood homes for sale averaged $277,813 with average market time of 289 days. Of the 19 closings, 8 were distressed with a median sales price of $190,000 and average sales price of $225,768. The 11 'traditional' home sales had a median price of $244,000 and an average sales price of $227,957.
This data provides evidence that buyers are still selective in their home search and that they are buying a disproportionate number of distressed homes. The average difference in sales price of only $2,189 indicates that buyers may not prefer foreclosure and short sale properties, but are interested in homes that are viewed as being below market value. Correct pricing continues to be crucial to selling a home in the Shorewood, IL real estate market.
If you're thinking of selling your home in Shorewood, contact Steve Roake for a free Comparative Market Analysis.
Also, please see the Plainfield Market Report.