Champaign County IL Real Estate Market Report, October 2012

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Real Estate Agent with Beringer Realty

Champaign County IL Real Estate Market Report, October 2012

October 2012 Home Sales Information Compared to October 2011

The following real estate market information concerns only residential sales in greater Champaign County, IL and includes houses, condos, co-ops, and zerolots

October 2012 Closed Home Sales:

  • 188 units sold
  • $141,968 average sale price
  • 95.3% sale-to-list price ratio
  • 76 average days on the market

October 2011 Closed Home Sales:

  • 157 units sold
  • $147,779 average sale price
  • 93.3% sale-to-list price ratio
  • 101 average days on the market
Home Financing Champaign Urbana

What's going on in the Champaign County, IL real estate market?

As the statistics above indicate, the number of home sales in greater Champaign-Urbana for October 2012 exceeded the number for October 2011, and at this point, there's no doubt that total home sales for the entire year wil exceed last year's figure. Yay :-) Also interesting is that there was a significant decrease in the average days homes spent on the market. All year we've had lower inventory and more sales compared to last year, which has led to more competition for buyers and, it seems, fewer days on the market for sellers. I would expect days on the market to increase a bit as we head into the slower, winter months; however, I also suspect we'll maintain low levels of inventory as we have all year. All things considered, it's not a terrible time to have your home on the market.

 Champaign Urbana Real Estate Absorption Rates

What is an Absorption Rate?

Last Month's (September) Market Report

*Information is deemed reliable, but not guaranteed to be accurate. Statistics in this report were obtained through the Champaign County Association of Realtors®

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Shannon Lewis is a Realtor® and broker at Beringer Realty located in Urbana, Illinois. She and her partner, Debbie Hensleigh, help home buyers and sellers in Urbana, Champaign, Savoy, and many other surrounding communities.

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call 217-552-8059, or email Shannon@HomeplaceAdvisors.com

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