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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