*As you can see, I'm a little bit behind on monthly market reports! So very sorry for making you wait. December's report will be published today, also, and January will be done in the next couple of weeks once that information becomes available. As always, feel free to email me with questions...
Champaign County IL Real Estate Market Report, November 2012
November 2012 Home Sales Information Compared to November 2011
The following real estate market information concerns only residential sales in greater Champaign County, IL and includes houses, condos, co-ops, and zerolots
November 2012 Closed Home Sales:
- 204 units sold
- $147,826 average sale price
- 95.5% sale-to-list price ratio
- 97 average days on the market
November 2011 Closed Home Sales:
- 143 units sold
- $133,601 average sale price
- 94.3% sale-to-list price ratio
- 128 average days on the market
What's going on in the Champaign County, IL real estate market?
You might think that the holidays and the nearing year-end would equate to a slow month of real estate sales, and some years it might...but not this November! Total units sold increased tremendously for the month compared to November 2011 and the average sale price saw a marked increase, as well (though, I will once again point out that the average sale price can fluctuate greatly from month to month and does not necessarily indicate an actual rise or fall in prices).
The absorption rate is also relatively low for this time of the year due to a lower inventory of homes on the market compared to recent years and increased sales. In fact, our absorption rates from March through the present have been the most stable numbers we've seen in several years. It certainly looks as though we've been in the process this year of a slow and steady recovery.
*Information is deemed reliable, but not guaranteed to be accurate. Statistics in this report were obtained through the Champaign County Association of Realtors®