Market Update by Price Range - December 2010
Diligently trying to keep both buyers and sellers informed on the local Elgin IL housing market has been
my goal for many years. This market update gives you the number of homes that have sold by price range so you get a feel for the current sales activity. Which is up by the way!
How can you use this information if you are a buyer? The price range that you are thinking of purchasing in, is it one of the more active price areas of the Elgin market? It would also be telling you that there are many other buyers also in your price range all looking for that 'deal!'
How can you use this information to help if you are a seller? If you are planning on selling your Elgin Home soon, you can see which price ranges are the most active. Clearly the price range above $350,000 has been non-existent and rarely sales have occurred. You might have to plan accordingly for extra market time. As a seller, you have to be sure that your home's curb appeal and presentation is ‘spot on’ in a market like this. Possibly some extra updates and staging might be required before you put your home on the market. Do you know what the average market time is for your price range?
For this market update in Elgin Homes you can clearly see that over 74% of the closed sales have been under the $200,000 price range. The lowest sales price was $22,000 and the highest was $700,000. Wow!
What about the foreclosures Lyn in Elgin Homes? Foreclosures are going to be around for some time and each one that comes on the market is offering a bargain price. It's good for buyers giving them great purchase opportunities but not for sellers. The foreclosures are keeping the median sales prices low. Every foreclosure that is listed at that reduced price actually pulls down the pricing of all the homes in the surrounding neighborhoods.
Looking for a market expert to help you sell your Elgin Home? If you are researching this update to possibly sell your Elgin Home, please email (on the right) or call to discuss the advantages of my marketing abilities and getting your home turned to 'SOLD'.
Looking for a great home in the area? If you are thinking of buying an Elgin Home, please consider me as a 'buyers agent' for your purchase. An experienced veteran, like myself, can steer you through the 'mine field' on your way to your first or tenth home!
Elgin Historic Homes (before 1930)
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