Lombard Real Estate Market - 1st Quarter Comparison

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Real Estate Agent with ADT Security Services

A Multiple Listing search for Lombard, IL, today, shows that even though the number of homes sold has dropped the last couple of years.  The first quarter of 2008 home sales have increased over 2007 and home values have rebounded as well.  If you were waiting for the (national media's) bottom, you may have missed it.

Lombard Home Sales

The number of homes sold in the first quarter of 2008 are up 8 units, compared to 2007.  That is an increase of around 14%.  This may be a sign that there will be more homes sold in Lombard this year compared to last year.  This should have a good impact on the home values as well.

Lombard Home Prices

This graph shows the mean price of homes sold in the same time frames.  The 1st quarter of 2007 verses the 1st quarter 2008 is up almost $18,000.  As a percentage that is a gain in value of just over 5.9% and the current value is nearly the same as in the 1st quarter of 2006.

Keep your eyes on the Lombard prices not the national numbers.  The local numbers are truer indicators of what your home is worth.  If you would like an accurate home valuation, or you are considering buying a home contact your Lombard Realtor.

This information was obtained from the Multiple Listing Service of Northern Illinois and is considered to be accurate, but not guaranteed.  The data presented is of detached single family homes only.

 
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Rainer
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Richard C. Decker,P.A.-Realtor Broward County FL
RE/MAX Partners - Fort Lauderdale, FL
Richard- Interesing !  The same trend seems to be happening in Broward as well. Activity has picked up in the last month and the turn seems to have occured.  So  in 3-4 weeks the talking heads will probably be caught up and let everyone else know that.
Apr 01, 2008 08:01 AM #1
Rainer
36,982
Richard Parr
ADT Security Services - Slidell, LA
Home Security Specialist - Greater New Orleans, Louisiana
I bet that the talking heads will take more like 6-12 months to catch up because they are taking everything together as one market.  There are still some markets that are declining and that will go into their totals. 
Apr 01, 2008 08:14 AM #2
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Rainer
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Richard Parr

Home Security Specialist - Greater New Orleans, Louisiana
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