A recent Multiple Listing search for Addison, IL, homes shows that even though the number of homes sold has been decreasing, the home prices have been climbing. The information was broken down into one year increments dating back three years.
The graph above shows that the number of homes sold is down about 60% versus 3 years ago.
Even though the number of homes sold is down significantly the price has been on the rise. See the bar graph above. From the 24-36 month range to the 12-24 month range the mean price of sold homes increased by almost $10,000. In the last 12 months prices rose by almost $4,000 over the previous year. In this period, Addison home prices are up about $13,500 or as a percentage prices have increased by about 4.3%.
The local information shows that although the national media is talking about how bad things are and how much worse things will get, Addison real estate values have actually been increasing. Local market prices are truer indicators of your home's value. To get an accurate valuation of your home, contact your Addison Realtor.
This information was obtained from the Multiple Listing Service of Northern Illinois and is considered to be accurate, but not guaranteed. The data represents detached single family homes only.