Glenshire Subdivision – July 2008 Real Estate Market Update

Glenshire Subdivision – Champaign, IL

Glenshire Real Estate Market Update:

Real Estate Market Summary – 1/1/08 thru 7/28/08

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 $197,400 $205,900 38 12 94.4%
2006 $212,450 $208,585 $214,900 55 12 98.2%
2007 $197,908 $193,096 $194,900 97 13 97.1%
2008 YTD $199,550 $193,000 $199,700 68 4 96.7%


Well, Glenshire Subdivision has been catching up to the overall market averages over the last 2-3 months. 4 closed home sales averaging $199,550 in sale price and a relatively low 68 days on the market for those sales. There are also 2 pending sales which will bring the total number of closings to 6. After a slow Spring these sales help bring the YTD numbers back in normal ranges for Glenshire. It is worthwhile to note that the 4 closed sales averaged 68 days on the market compared to 131 for the active listings. This is a strong testament to accurate pricing when you list and sell your home. LP/SP ratios remain firm at 96.7% for Glenshire compared to 96.5% for the overall Champaign County market.
There are currently 6 homes in Glenshire actively marketed through the CCAR MLS averaging 131 days on the market.
Remember, Glenshire is a small area out of Champaign County so the average numbers will tend to flucuate on a monthly and yearly basis. If you are interested in comparing these numbers to the overall, local market please contact me for more info.

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

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