Turnberry Ridge Subdivision – May 2008, Market Update

Turnberry Ridge Subdivision – Champaign, IL

The following data is taken from the CCAR MLS as of 5/13/2008
Closed Sales of Single Family Homes – Market Report

Year Average List Price Average Sale Price Median List Price Average Days on Market # of Closed
Sales
List Price to Sale Price Ratio
2005 $209,042 $220,820 $229,900 50 15 98.2%
2006 $223,756 $217,725 $219,900 60 16 97.3%
2007 $224,509 $219,664 $229,900 40 11 97.8%
2008 YTD $228,440 na $239,900 na 0 na

Much like Glenshire Subdivision,Turnberry Ridge has followed a similar path as the Champaign Real Estate Market in general. Given the small sample size, the average sale price has remained consistent over the last 3-4 years. Pricing and demand remains strong as well with average list price to sales price ratios fluctuating between 97% and 98%.
Unlike much of Champaign County the average days on market for a home listed for sale in Turnberry Ridge has actually dropped about 20% between 2005 and 2007. This number is a little surprising but given the consistent demand for this area it is completely understandable (and great news for homeowners in Turnberry Ridge).
Currently, there are 5 single family homes on the market in Turnberry averaging a total of 112 days on the market. So far this year the number of sales seems to be following the yearly trend but the days on market will be the number most home sellers will be watching in Turnberry.

More info on the Champaign Real Estate Market at www.ChampaignExperts.com

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