Elmhurst real estate news & market updates

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Elmhurst Real Estate Update By Tom Makinney Jr.

Elmhurst Market Statistics for January

Prior 12 months property sales increased from 564 in 2014 to 574 in 2015.  January 2015 property sales vs January 2014 property sales decreased from 27 to 20 homes sold. Prior 12 months average sales price increased 4.5%, from $456,412 in 2014 to $477,142 in 2015. 
The January Average Sales Price decreased 5.2%, from $433,630 in January 2014 to $411,009in January 2015. The January 2015 vs. January 2014 median price decreased 19.6%, from $370,000 to $297,400. The January Average Days on Market (DOM) increased from 128 in January 2014 to 176 in January 2015.

The January 2015 MSI of 7.26 months was at its highest level compared with January of 2014. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. Remember, 5.5 months is considered a “balanced” market by most.

                

 

THE BEST HOMES SELL FAST!

Smart sellers understand that a proactive selling strategy can go a long way in getting their home sold quickly, and for top dollar. Here are three tips for today’s sellers:

  1. Make your home shine. Buyers like to envision a home they can move right into. Clean carpets, fresh paint, and a nicely landscaped yard can go a long way to make perspective buyers feel at home.
  2. Anticipate the selling season. Many sellers wait for the market to pick up before they place their home for sale, but smart sellers anticipate these seasonal adjustments and list their homes early in the sales cycle. Give yourself the best opportunity by placing your home on the market before everyone else does!
  3. Price your home right. Markets change, so don't be influenced by last year's selling activity and home prices. We will evaluate your home based on the most recent sales data and price it to sell for the most money in the shortest amount of time.

Whether you're looking to sell today or are thinking of selling tomorrow, please feel free to call and ask for an analysis of our recent market activity. We would be more than happy answer any questions you might have.

MAKE YOUR COUNTER OFFER COUNT

With today's competitive housing market, it is more important than ever for home buyers get their financial house in order when applying for a loan. Be sure to review your credit report with your mortgage professional and get pre-approved for your loan before making an offer on a home. A little preparation goes a long way and can mean all of the difference when it comes to closing on that dream home.

Contact us today to get the right loan for your current needs! We can recommend proven lending professionals who can help you position yourself for your next home purchase.

   
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