Your Market update for February 2009. Activity is increasing from January!
Right now O'Fallon IL has a fantastic selection of homes in a wide variety of price ranges. As of today (Feb. 25th 2009 there are 240 homes for sale in the 62269 zip code. Interest rates are still low and the first time home buyer $8,000 tax credit make this an excellent time to be shopping for a new home.
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TOTAL HOMES FOR SALE= 240 (slightly up)
Of the 240 on the market:
NEW CONSTRUCTION = 35. Average price $238,435 (down from $242,404)
And average Days on Market is 316.
RESALE HOMES= 205 Average price $224,637 (Up)
and Days on Market is 138 (Down)
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HOMES UNDER CONTRACT =23 (02/02/2009-02/25/2009) UP almost 50%!
Of the 23 with a contract:
NEW CONSTRUCTION= 5 Average price $236,873
and Days on Market is 181.
RESALE HOMES= 18 Average price $156,850
and Days on Market is 130
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CLOSED HOMES= 11 (homes closed 02/01/2009-02/25/2009)
Of the 11 that closed last month:
NEW CONSTRUCTION =3. Average price $241,333
and Days on Market is 168
RESALE HOMES = 8, Average price is $194,588
and Days on Market is 101
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So, not all bad news. There are a few bright spots with the homes going under contract in the last 25 days jumping from 13 to 23!
We have information available for other areas as well. If you would like this data just let us know.
Information deemed reliable but not guaranteed. Data pulled from SIRMLS.
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