Are We at the Top of the Market in Central Illinois?

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Where is the Decatur area market heading? What can you expect from it in the coming year? These are questions we hear all the time, so today we’ll take a look at some of the recent market trends in order to answer them!

So far this year, 86 single-family homes have sold, which is a whopping 43% more sales than we saw at this point in 2015. In other words, 2016 is off to a stellar start. The downside is that we’re down as far as our listing inventory is concerned: there are only 502 active single-family homes on the market right now, 14% less than at this point in 2015. Because homes are selling at such a high rate and inventory is so low, the average sales price has jumped 27% to $109,704. 
 

Our average list-to-sale price at Glenda Williamson Realty was 96%, so the homes we listed sold for about 96% of what the seller was asking. Additionally, the average days on market for our team ran about 90 days faster than the market average! In other words, sellers who list with us get their homes sold a whole lot faster!

All of this means that now is a fantastic time to list your home or buy a new one. There isn’t much competition out there and people have a lot of buying power! It’s unclear how much longer these conditions will last, so don’t wait if you’re ready to make a move.

If you would like more information about the state of our current market, please don’t hesitate to reach out to us. We would love to help you with any of your real estate needs.