Our August Market Update Is Hot off the Presses

Central Illinois Real Estate Podcast

The latest numbers from our market are in, and they’re hot off the presses. As it turns out, August of 2017 was the best month we’ve seen in over six years.

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The numbers for our August market are hot off the presses, and I’m here to share them with you today.
These statistics are a great indicator of where our market is and where it’s headed. Locally, this August was the best month we’ve seen in over six years.
With 160 houses selling this August, we’ve seen a 24% growth from the number of homes that sold in August of 2016. The number of total home sales this year, up until the end of August, is now nearly even to what we saw last year, thanks to this boost.
Between January and August of this year, a total of 887 homes were sold. In 2016 during that same time, the number of sold homes was 886.
Houses are also selling faster this year than they were in 2016. In fact, the current average for days on market is 83, which is 30% less than the average a year ago.
There is one small piece of news that isn’t so good, which is that the average sale price is down by 8%.

This August was the best month we’ve seen in over six years.

Nevertheless, our market is mostly seeing positive trends. We are in a balanced market when it comes to price ranges below $250,000. This means that there is an equal number of buyers and sellers.
However, price points above $250,000 are still seeing a buyer’s market.
For further information on our current market, you can reference this chart.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.