How are home values in Edwardsville, Illinois?As you might imagine, this is a question I get all the time because people are confused and anxious about the worth of their homes.
If you look at the national media, you might be forgiven for thinking that everything in real estate is bad news. So let's take a deep, cleansing breath and look at the image of lovely Leclaire Park at the right and then peek at the real Edwardsville numbers for a dose of truth:
In 2009, 334 homes were sold in Edwardsville. The average home stayed on the market 157 days, and sold at an average price of $198,122.
Fast forward to 2010 and fewer homes were sold in Edwardsville -- 317. Those homes also stayed on the market a little longer -- an average of 168 days on the market.
But here's the great news: Home sales prices in Edwardsville actually ROSE 12.44 percent in 2010 over 2009. The average home in 2010 sold for $222,780 and posted a good list-to-sell ratio of 95 percent.
Today, at the midway point in 2011, Edwardsville home sales are on pace to be slower than 2010, but they are selling at a very stable price.
Year-to-date on June 1, 2011, just 102 Edwardsville homes have been sold. That's 20.7 percent fewer than January 1 to June 1 in 2010. However, prices on these sold homes are up nearly half a percent over 2010. (Note that some of the higher sales volume in 2010 can be attributed to the homebuyer's tax credit that was offered in the first half of 2010.)
What does all of this mean? To me it says that if you need or want to sell your Edwardsville home in 2011, it can be done efficiently if you have kept it in good condition and if you price it right from the very beginning using your Realtor's in-depth research on comparable, recent sales as a guide.
More questions about Edwardsville real estate? You can reach me at Nancy@GoshenRealtyGroup.com or follow the market on my site at www.GoshenRealtyGroup.com.
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