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Grundy/ Will Home sale splits
May 17, 2010 by Jim Ludes · Leave a Comment
Let us take a peek at property in Grundy and Will County. More specifically, single family homes that have closed between February and April this year and a couple year’s back.
February 1 – April 30 Grundy County:
2010: 92 homes sold, median value $162,400
2009: 76 homes sold, median value $163,000
2008: 82 homes sold, median value $188,750
2007: 113 homes sold, median value $197,500
February 1 – April 30 Will County:
2010: 1063 homes sold, median value $188,000
2009: 902 homes sold, median value $190,750
2008: 1098 homes sold, median value $239,000
2007: 1465 homes sold, median value $245,000
***What this shows me is that the number of Grundy County homes sold over this time frame is up 21% on last year and 12% over 2008, while being down 19% from 2007’s numbers. It shows that Will County homes sold are up 18% from last year, down a mere 3% from 2008 and down 27% from 2007. Like I’ve stressed in the past, do not worry about the median home values too much. One cannot say, “The Grundy County home I bought in 2007 for $197,500 is now only worth $162,400? I’ve lost 18% of my value?” NO! This merely means that the mix of homes has changed. Half the homes have sold for under $162,400 and half have sold for more than that. Median’s used because average can be too easily skewed by the $15,000 junker that sells or the 1.4 million dollar estate, especially when we’re looking at only 92 homes. In easiest terms, people are buying less expensive homes homes.***
"Small town values- BIG TIME results" isn't just a catch-phrase for Jim Ludes. For him, it's a way of life in and outside of real estate. "I was raised in Lockport at a time that it wasn't much more developed than the Coal City/ Diamond area is now. I spent seven years in a class with the same 30 kids. You learn pretty quickly in that environment how to treat people the right way," he admits. As for the other half of the slogan Ludes begrudgingly admits, "You have to brag a little bit in the business or people tend to forget you're in it. I've been a multi-million dollar producer for over 5 years and I believe that's a testament to the hard work I put forth with each and every client."