Statistics

How long does it take to sell a 4 (or 4+) bedroom house in Coal City, Diamond, Carbon Hill? Not as long as it used to!

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Often the mark of the current health of a real estate market is thought to be, “how many new construction homes are being built?” This illustrates exactly how good the Will County market is doing at the current time. New construction, single family homes are up over 20% from a year ago at this time!

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Will County put almost 22% more houses under contract this June than last! 5% fewer homes were listed, leading to a decrease of actual inventory available of almost 30%

While almost 22% more houses were contracted, over 15% more closed than a year ago. Closings for the rolling year are up nearly 11%!

Market time has increased by almost two weeks on median but sold prices have too!

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June 2015 was a booming month in homes placed under contract, up more than 34% from this same month a year ago. New listings, however, were down by more than 18%. This helps contribute to their being almost 52% less inventory for potential home buyers.

For houses sold and closed, the median value is up almost 6% for the rolling year (June 2014 to 2015 compared to the previous 12 months), the market time is slightly less to get under said contract and the month’s supply has dropped by almost a full month!

It’s becoming a better and better time to be a seller in Grundy County.

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The Grundy County housing market continues to thrive. Prices are rising, more houses are selling, and inventory and market times are falling.

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“How long will this house be on the market?” – many buyers

The short, honest, answer to that question is, “I don’t know.” No one likes to hear that- but it’s the truth. At any given time someone can be interested in any house on the market and it could sell tomorrow. As a stat-driven-REALTOR I think numbers can lead you on the right path to educated choices. They will never guarantee anything, of course, but they will give you an inkling as to how long something should take. Take this chart of Will and Grundy County properties to close in the last three months (9.28.14 to 12.28.14); 2558 bits of data (closed sales of any type $20,000 or higher) comparing listing market time to percentage of  original list price sold for. I’m on record as preaching that houses generally sell for 94-96% of last list price. I think this shows that I’m not wring.

How do I use this fancy chart to tell me what I asked, smart guy?

Well, you DO need the help of a market expert (I’m one, but there are others). If a house you’re selling or one you’re interested in buying is priced correctly (ie: within 4-6% of where the professional tells you it is likely to sell for), you can surmise that it won’t be on the market very long. If your pro thinks that its value is about 80% of where it is listed, it has just a good of a chance at selling in 120 days as it does 30. PLEASE NOTE: This date is for the FINAL list price. So if that house you have your eye on drops its price, it’s odds of selling sooner will very likely increase. Of these 2558 properties, 1864 (72.9%) had NO price drops in its listing time.

Will/ Grundy County closed sales 9.28.14 to 12.28.14, of better than 70% list price to sales price and 365 days or fewer on the market.

Does this help or make it more unclear?

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Morris Closed Sales Data

December 4, 2014

Sales in Morris continue to be as strong in 2014 as they were a year ago. 12 month rolling data shows Morris has only dipped below 230 closed property sales one time since May of 2013 (and that was only as low as 229 in August). Way to go Morris!

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Tornado Recovery in Diamond Estates/ Farmstone?

November 23, 2014

I’ve been spending a lot of time in Diamond Estates this week. Many homes, damaged in last year’s tornado, are fixed with homeowners back in place- some bigger and better than ever before. Others are works in progress. Because it’s how my brain works, I wanted to put a number on the subdivisions’ recovery- or [...]

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Will County Hot Stats: September 2014

October 16, 2014

Will County continues to be a thriving market in Illinois. In September of 2014, listings and houses under contract are way up (21 and 27 percent, respectively). Homes closed are up 6% year over year and the time to sell those houses is way down (almost 34% year over year). This is a solid market.

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Grundy County Hot Stats: September 2014

October 13, 2014

It’s hard to imagine 2014 is already three quarters in the books, but it is. Here’s how the year is stacking up in vital real estate statistic form. Grundy County closed one fewer house this September than last. That means the market here is virtually identical in terms of units moved. Year over year, we’ve [...]

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