Oswego, IL detached single family home sales in December 2021, were only 1 short to match 2020's sales of 46 - only 45 closed sales. The YTD numbers were much better with 659 closed in 2021 compared to 650 in the previous year. The lowest priced home in 2021 was a 2 bedroom 1 bath with 1,029 sq. feet at $135K and the highest home was a 6 bedroom, 7.1 bath home at 6,150 sq. ft. on 3 acres for $1,500,000. In 2020, the lowest priced home was a 3 bedroom 1 bath at 1,456 sq. ft that sold for $82,500 and the highest priced home was a 6 bedroom, 4.1 bath, 4,000 sq. ft. on 2.1227 acres for $785,000. The numbers speak for themselves as the price appreciation this past year surpasses 2020's by a longshot.
Currently, inventory stands at a low of only 37 active listings, with 2 of those in "new" status and only 1 in "reactivated" status. There are currently 41 homes under contract and another 5 in "pending" status. Hopefully, inventory levels will rise as homeowners return from their holiday vacations and return to their jobs in the next week or so.
With interest rates suppose to increase in upcoming months per the Federal Reserve, home buyers should start earlier than the spring market to take advantage of the current rates. Ready to start your real estate journey? Give us a call and let's get the ball rolling!
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