How are Homes Selling in the Timberline Valley and Westlake Neighborhoods

With 9 homes on the market at this time we are looking at a 3 1/4 month supply. This measure of inventory is what is referred to as the absorption rate. It means that at the current rate of sales it would take 3 1/4 months to sell all of the inventory. When the absorption rate is between 5-6 months of supply you are experiencing a balanced market. Less than 5 and the scale tips into "Sellers Market" category.

Southwood Home Sales Up 43%

43 homes sold in Southwood (SW Champaign location) over the last 12 months.  An increase of 43% from the 30 home sales the prior year.  Average days on market for closed sales stayed basically the same at 120 days (2 days faster than the previous year). The average sale price for a home in Southwood... Continue Reading →

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