August 2011 Home Sales – Champaign Realtors Association

Home Sales in August of 2011 were up and down.  The Champaign County Association of Realtors reported 239 units sold up 40% from August of 2010.  This number is down from 254 units sold in July 2011 which reflects a typical seasonal slowdown.

August 2011 Market Report

The total home sales volume in August was $35,720,320 up 24% from August of 2010.  August was down approximately 6% from July 2011’s home sale volume of 37,893,616.

August 2011 Champaign Home Sales Volume

2011 Year to Date:  Units sold are up less than 1% at 1632 (1621 units sold YTD in 2010).  YTD volume is down about 7% at $224,666,867.

My thoughts:  July and August of 2011 are considerably stronger than the same period of 2010.  I think a majority of this increase can be credited to the home buyer tax credit that expired in June of 2010.  That tax credit “borrowed” a lot of home buyers from the next 12 months and kept the sales numbers low for July, August and September of 2010.   With that in mind I think it is very impressive that the units and volume have rebounded so strongly.

The sales volume did not experience the same increase as the units sold in August and this is mainly due to the decrease in the average sale price.  In general, lower priced homes are having an easier time selling this year.  There are always exceptions though!  Our real estate team had 2 homes in the Ironwood Subdivision in SW Champaign sell with in 2 weeks of list date at almost 98% of asking price.

The keys to success in selling a home in Champaign County remain to be price, condition and exposure.  If you are interested in getting your home ready for sale check out these home selling tips or contact Mark Waldhoff.

For a free and instant estimate of your home’s value visit ChampaignValues.com

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