Oswego, IL Saw a 23.7% Drop on Days on Market in June, 2018!

By
Real Estate Broker/Owner with Heart Realty Group, Inc.. IL-471.002355

If you are a buyer and wondering why you lost out on homes in June, 2018 in the Oswego, IL this will help explain your loss.

Homes in Oswego, IL only stayed on average 45 days on the market compared to June, 2017's 59 days!  That is a 23.7% drop!

With only 63 closed sales in June, 2018 compared to 2017's 87 closed ...less inventory and more buyers caused many buyers to be involved in multi-offer situations and get frozen out because of bad advice or inability to pay over list price!  Price appreciation shows this effect with a 6% price increase from 2017's median sale price of $276K to the current median price of $292,500!

The current inventory levels are as follows:

Active - 99

New   - 18

P/C    - 7

Reactivated - 3

Total Available:  127

 

Under Contract - 81

Pending:  10

 

Closed - 7/1/18 to 7/28/18 - 44

Closed - 7/1/17 to 7/28/17 - 49

 

We still have two full days left to close on any homes currently under contract or pending so the final numbers look pretty good for July, 2018

 

This is all great news for sellers but for buyers....not so much.  For those homes that are in "move-in" condition in preferred neighborhoods - either they go under contract on the same day they are listed or buyers get involved in "multi-offer" situations which will force some buyers to drop off if they are not financially able to go over list or list.

 

This is the time when having a full time agent that knows the market and can get those listings as soon as they hit the MLS, make the showing appointment and write that contract as fast as possible the best way to win the home search!

 

 

Posted by

Evelyn Santiago

Managing Broker - 630-251-0059

Heart Realty Group, Inc.

We are Passionate About Real Estate!

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
Illinois
Groups:
HyperLocal Neighborhood and Community Posts
Tags:
oswego il real estate agent
oswego il june 2018 home sales
sellers market in oswego il
small town oswego il

Post a Comment
Spam prevention
Spam prevention
Post a Comment
Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
311,250

Evelyn Santiago, Managing Broker Heart Realty Group, Inc.

Passionate About Real Estate & Our Clients!
Ask me a question
*
*
*
*
Spam prevention

Additional Information