Berwyn IL Real Estate Market Report, week of January 19, 2015

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

Berwyn IL Real Estate Market Report, week of January 19, 2015

13 homes sold in Berwyn IL

There were 7 single family homes, 3 condos, and 3 multi-family properties that sold this past week in Berwyn IL. The average sales price for the single family homes sold this week was $183,657. The average time on the market was 114 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 3 bedroom, 1 bath brick ranch home in the 1500 block of Harvey Ave. It sold for $115,000 as a foreclosure in 148 days on the market with an asking price of $133,500.

It was sold as-is, and the interior pictures show that the home is in need of updates throughout. These buyers seem to have gotten a good 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 4 bedroom, 3.5 bath brick bungalow with a complete 2nd floor addition on the 3700 block of Ridgeland Ave. This professionally rehabbed home was upgraded throughout. It sold for $337,500 in just 15 days on the market with an asking price of $359,900.

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 3 bedroom, 2 bath brick Cape Cod single family home in the 1900 block of Maple Ave, in Berwyn's "Gold Coast". It was updated throughout and sold for just over asking price, $223,000, with the sellers contributing $3,000 toward the buyer's closing costs.

Foreclosures & Short Sales in Berwyn IL

4 of the homes sold this past week in Berwyn were foreclosures, and 1 was a short sale.

Today there are 23 foreclosed homes for sale in Berwyn IL and 16 homes listed as a short sale in Berwyn IL.

Inventory & Absorption Rate in Berwyn IL

Today there are 127 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 are bordering on what is considered a Seller's Market.

New Listings in Berwyn IL

There were 26 new properties (2 condos, 1 commercial space, 17 single family homes, 1 vacant lot, and 5 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 3BR, 2BA brick Queen Anne Bungalow on Riverside Drive. It sits on a 33x125 foot lot and has a new kitchen & baths, refinished hardwood floors, and nice finishes. And the best part... It's priced at only $239,900! See all pics & details here!

Looking Forward...

21 properties: 2 condos, 3 multi-family and 16 single family homes were reported as going Under Contract (contingent/pending) this past week in Berwyn IL... Not too bad for the middle of winter! Currently there are 9 condos, 32 multi-family properties, and 91 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 January 19, 2015 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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Rainmaker
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ActiveRain City and State Listing Group
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Appealing layout, specific market location identified by City and State, along with useful information designed to attract buyers and sellers to you is what the Group City & State: Listings and Market Reports is all about. Nice job.

 

Jan 19, 2015 10:43 PM #1
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Laurie Christofano

ABR, The Pych Team at RE/MAX in the Village
Buy or Sell in Chicagoland
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