This month we are looking at condo sales in Champaign. The count of sales was up 4.4% YTD compared to the same time-frame last year. Condos in Champaign are selling in all price points but the most active are $200k and below. View Condos for Sale in Champaign Condo developments like the M2 and One... Continue Reading →
Spring home sale stats are very positive in Champaign. Local home sellers have seen a huge increase in activity in the last month and inventory levels remain low. In fact, we've seen multiple offers on 3 of our last 6 pending sales! Thinking of a move? Take a look at these numbers and let us... Continue Reading →
Next we look at the active competition. In any given time-frame only a certain number of homes will sell. How does the home need to be priced to compete against the neighbors but still maximize the value for features and amenities in the property?
We seen 13 closed sales of luxury homes in Champaign so far this year with an average list price of $640,885. This is slightly down from the 18 sales and $706,507 average list price we saw in the same time frame last year. There are currently 2 luxury homes under contract. One great classic home on University avenue listed at $725,000 and a beautiful home on the lake in The Trails at Brittany.
Champaign County real estate inventory is averaging 5.3 months of supply. This represents a fairly balanced market between home buyers and sellers. 5 to 6 Months of supply is the standard for balance between a buyer's or seller's market. Five or less and the demand is strong enough to label it a Seller's Market. Six... Continue Reading →