Berwyn IL Real Estate Market Report, week of December 8, 2014

By
Real Estate Agent with RE/MAX in the Village, Realtors
https://activerain.com/droplet/4s5B

Berwyn IL Real Estate Market Report, week of December 8, 2014

 

9 homes sold in Berwyn IL

There were 8 single family homes and 1 multi-family property sold this past week in Berwyn IL. The average sales price for the single family homes sold this week was $186,906. The average time on the market was 68 days.

Because these statistics are only for one week and for all of Berwyn, it may not tell you what is possible for a specific home. These are just the general market statistics of what happened in the last week in Berwyn IL real estate.

Own a home in Berwyn IL? Find out what it's worth here! (More info on selling a "dated" home.)

Least expensive home reported sold in Berwyn IL

The least expensive home reported sold this past week in Berwyn was a 2 bedroom, 2 bath brick bungalow home on a 37 x 126 foot lot on the 1200 block of East Ave. It sold for $99,750 as a foreclosure its first day on the market with an asking price of $108,000.

It was sold as-is, and the interior pictures show that the home is in need of repairs and updates. These cash buyers seem to have gotten a great deal for much less than the average selling price for the neighborhood!

Most expensive home reported sold in Berwyn IL

The most expensive home reported sold this past week in Berwyn was a 5 bedroom, 3.5 bath brick split-level home on the 1800 block of Ridgeland Ave. This professionally rehabbed home was upgraded throughout including an open concept main level with an open kitchen containing cherry cabinets, granite counters & high end stainless appliances, master bath with tub & separate shower, double sinks with granite counters, walk-in closet, and a 2nd master suite in the lower level. It had all new hardwood floors and new plumbing and electric. It sold for $270,000, just over asking price, and the sellers contributed $5,000 toward buyer closing costs, in just 9 days on the market.

Sold Deal Of The Week in Berwyn IL

In my opinion, the best deal of the homes sold this past week in Berwyn was a 2 bedroom, 1.5 bath brick octagon bungalow on the 2100 block of Maple Ave. It was packed with charm and character, stained glass windows, hardwood floors, and a white cabinet kitchen with stainless appliances. The listing indicates that the attic could be finished for extra living space. It sold for $181,500 after 74 days on the market (original asking price of $209,900, reduced to $199,900).

Foreclosures & Short Sales in Berwyn IL

One of the homes sold this past week in Oak Park was a foreclosure, and none were short sales.

Today there are 29 foreclosed homes for sale in Berwyn IL and 21 homes listed as a short sale in Berwyn IL.

Inventory & Absorption Rate in Berwyn IL

Today there are 157 single family homes for sale in Berwyn IL. If homes in Berwyn continue to sell at the same pace and no more homes hit the market, it will take 4 months to sell all the available homes. This statistic is for all homes in Berwyn and based only on this month's activity. Most people consider a housing market healthy if there is a less than 6 months' supply of inventory, so we're in what is considered a Seller's Market.

New Listings in Berwyn IL

There were 32 new properties (1 condo, 20 single family homes, and 11 multi-family properties) to hit the MLS this week in Berwyn IL. See all listings here!

This Week's Hot New Listing in Berwyn IL

The best deal in my opinion of this week's new listings in Berwyn is a brick Victorian 2-flat in the 3400 block of Grove Ave. It's got great curb appeal and tons of original woodwork inside. The units are each spacious 3 bedroom apartments. And the best part... It's priced at only $299,000! See all pics & details here!

Looking Forward...

2 condos, 6 multi-family, and 7 single family homes were reported as going Under Contract (contingent/pending) this past week in Berwyn IL... Not too bad for the holiday season! Currently there are 13 condos, 28 multi-family properties, and 94 single family homes in total that are Under Contract in Berwyn.

See the full Berwyn Market Insider here & subscribe for monthly updates!

More info on my FREE first time buyer consultations

The Fine Print: This report covers what happened for the week ending December 8, 2014 based on info from the MRED LLC multiple listing service (MLS). As always, there may have been more closings that may not have been reported to MRED as of today's posting as well as other closings that took place outside of the MLS. All data has been compiled from the MRED MLS by Laurie Christofano, Realtor with The Pych Team @ RE/MAX In The Village.

Posted by

Laurie Christofano, Realtor

ABOUT THE AUTHOR: Laurie Christofano has been a real estate broker since falling into the field in 2007 upon deciding to leave medical school. Passionate about local architecture and determined to make a living "helping people" (as she set out to do since deciding to become a doctor; albeit she's now helping with a different but also important aspect of people's lives), she's worked with buyers, sellers & renters all over Chicago's city & suburbs. Proud member of The Pych Team @ RE/MAX In The Village, Your #1 Pick! Learn more: http://traffic.libsyn.com/brianplain/TAA020.mp3

Find out how much your Chicago area home is worth in today's market:
go to http://myhousepage.com/chicagoland-house-values
(FREE service for Chicagoland homeowners)

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