Champaign Home Values – Survey and Update

A recent survey by HomeGain, (link) points out that 76% of home sellers think their properties are worth more than the suggested list price of their Selling Agent while 68% of home buyers think that homes are priced above their actual value.   Who do you think will win that battle?

It’s nice to live in Champaign.  Our market has experienced a downtown but compare it to the national averages and we come out looking great.  Recent statistics from the Champaign County Association of Realtors are below.  In general, the number of homes sold is up and the average sales price is down comparing November of 2011 to 2010.  This is similar to the real estate market statistics from earlier in the year.

The November Average Home Sale Price in Champaign County dropped to $132,781 from $159,324 in 2010.  The YTD average fell from $149,467 in 2010 to $139,573 in 2011.

Champaign Average Home Price

The number of homes sold in Champaign County was up 14% comparing November 2011 to 2010.  On a January thru November comparison the # of sales was up 4%.Homes Sold in Champaign

 

 

 

What does this mean for you?  If you are a home seller it means price is even more important than ever.  More homes are selling in Champaign County but the lower priced homes are moving quicker.  Influences on the average sale price include a large number of 1st time buyers, a decrease in property values in certain areas and a large supply of available homes.

Do you have a specific question on your home or values in your neighborhood? Drop me a note or call at 217-239-7114.

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