Current Stats compared to July 2007 last year
Average List Price - 137,268 , down 1%
Average Sales Price - $131,303, down 3%
Average Days on the Market - 130, up 9%
According to the Southwestern Illinois Regional MLS, the average sale price on a home in our region fell by just three percent between July 2007 and July 2008. The average number of days a home stayed on the market rose from 119 in 2007 to 130 in 2008 and the list-to-sell ratio is at 96 percent versus 97 percent in 2007.
All in all, what these market statistics show is that we have not experienced the down turn in real estate prices like most of the country. The average sales price in our area is only down 3%, compared to 20% or more on the east and west coasts.
Don't let the national news stories lead you astray. Real estate is very localized, and our market is not crashing down around us. If you need to buy or sell, give me a call today.
About the Author: Kristina Pratt is a REALTOR® with Goshen Realty Group at RE/MAX Preferred Partners in Edwardsville, Illinois. She and Nancy Milton help their customers buy and sell homes and investment properties in St. Louis' Illinois suburbs of Madison and St. Clair counties with special emphasis on the communities of Edwardsville, Glen Carbon, Maryville, Collinsville and Troy. For more information, visit their web site at http://www.GoshenRealtyGroup.com or e-mail Kristina@GoshenRealtyGroup.com
