1st Qtr 2015 O'Fallon IL Housing Market Report
The O'Fallon IL Real Estate 1st Quarter numbers are in. Although the average price is down over 5% from last quarter, it's up nearly 3% from last year. Both the Final List/Sell ratio and the Original List/Sell ratio increased considerably from the previous year and previous quarter.
Inventory remains on pace with last year and as expected has increased considerably (16%) since last quarter as the weather has warmed and home owners have been able to do those last few projects to get their homes show ready.
| O'Fallon IL Market Statistics | |||
| Quarter Ending 1Q-2015 | |||
Quick Facts |
1Q-2015 | Previous Period | Previous Year |
|---|---|---|---|
| Median Price | $180,500 | $175,250 (3.00%) | $163,950 (10.09%) |
| Average Price | $183,711 | $193,839 (-5.22%) | $178,384 (2.99%) |
| Sales Volume | $18,554,777 | $21,709,926 (-14.53%) | $11,416,603 (62.52%) |
| No. of Sales | 101 | 112 (-9.82%) | 64 (57.81%) |
| New Pending Properties | 90 | 69 (30.43%) | 75 (20.00%) |
| Active Listings | 324 | 278 (16.547%) | 322 (0.62%) |
| New Listings | 180 | 103 (74.757%) | 152 (18.42%) |
| List / Sell Ratio | 97.71% | 96.83% (0.91%) | 95.83% (1.96%) |
| Original List Price / Sell Ratio | 95.04% | 93.50% (1.65%) | 91.95% (3.36%) |
| Days on Market | 138 | 104 (32.69%) | 151 (-8.61%) |
With a Barometer of 0.062, our market remains balanced. 
The Market Barometer is a rough estimate of the health of the local Real Estate market. It is calculated by the number the number of sales / active property) -.25, to allow for a negative value.
- The Market Barometer compares homes sold to current active listings
- A threshold of +0.10 indicates more of a sellers market, and a -0.10 indicates more of a buyers market. A ballanced market is anything in between
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