Real Estate Market Update for Edwardsville IL
The numbers are in for September 2012, so here's a quick look at how things are going in the local housing market in Edwardsville.
The current average price for sold homes is $250,397. That's a 23.7 percent increase over September 2011. Good news -- prices are on the rise.
Twenty-nine houses sold in Edwardsville during September 2012, up 26 percent from September 2011. So, more houses are selling than at this time last year.
An important measure of the health of the housing market, is pending sales -- those homes under contract, but not yet sold. Pending sales in Edwardsville in September 2012 were at 21, up 23.5 percent over the same period in 2011. So, more homes are going under contract.
In September 2012, just 253 homes were actively listed for sale in Edwardsville, down 8.3 percent over 2011. That means a little less competition for sellers, which is good news for moving your home efficiently.
Twenty-nine new listings went on the market in September 2012, down a whopping 38.3 percent from September 2012.
The list to sell ratio -- the measure of how much the average home sold for versus its list price -- increased by 1.94 percent over 2012. So homeowners are selling for 95.61 percent of their final listing price on average.
And, days on the market prior to selling have decreased slightly to 167, a 3.47 percent decrease from 173 days in 2011.
What's the bottom line? September 2012 figures indicate that home prices are rising, for-sale inventory is decreasing, and a higher percentage of homes are selling more quickly than last year.
If you're thinking of selling your Edwardsville home, contact me at 618-791-8007 or Nancy@GoshenRealtyGroup.com for an honest assessment of what your property can sell for in the current improving market.
Thinking of buying in Edwardsville? Search for homes for sale in Edwardsville like a pro on my website at 618Life.com.