Kenilworth, IL Housing Report
Home Sales 2012
The news is coming at us from all sides, proclaiming, "Real Estate Market Comeback" or "Home Prices Increase." Yes and no.
As we know by now, real estate is very, very local and national trends may be quite different from what is happening here. I just returned from a trip to Los Angeles where the market is hot, inventory is low, and multiple offers are common. Lots of disappointed buyers.
Our market in Kenilworth and the North Shore is holding steady - although the price drop in Kenilworth was dramatic at 25%. Total sales were slightly up and list to sell price ratios were the same. It's always tricky to gauge trends in Kenilworth because it's a small village and there are fewer sales from which to draw from. Just a few skewed prices can skew the entire year's numbers.
|Avg. Sell Price
|Days on Market
|% of List to Sell Price
|Homes||31 35||$1,244,000 $1,713,000||251 236||91% 91%|
Sales of single family homes in Kenilworth decreased from 35 to 31 but prices, as mentioned above, fell. There were no condo sales in 2011 with which to compare.
While the differences were not great between 2012 and 2011, it is definitely not a pure buyer's market anymore. Homes that are priced properly and in good condition will sell quickly, sometimes with multiple offers. Buyers are ready to go and are usually pre-approved for a loan.
Are you getting ready to move in 2013? Call me anytime with questions or thoughts - I would be happy to meet with you and discuss the Kenilworth real estate market.