Champaign County IL Real Estate Market Report, September 2010
September 2010 Residential Sales Information Compared to September 2009
The following real estate market information concerns only residential sales in greater Champaign County, IL, and includes houses, condos, co-ops, and zerolots.
September 2010 Closed Sales Statistics:
- 150 units sold
- $157,248 average sale price
- 95.8% sale-to-list price ratio
- 80 average days on the market
September 2009 Closed Sales Statistics:
- 191 units sold
- $141,426 average sale price
- 96.5% sale-to-list price ratio
- 79 average days on the market
What’s going on in Champaign’s real estate market?
The number of sales monthly continues to decline into the less active months of the year. Still, the average sale price and days on the market are looking quite good. The fact remains that in most cases the Champaign, IL homes that are in top showing condition and priced compellingly will sell quickly, while many others will sit on the market with little activity.
An interesting statistic this month is the increased number of cash purchases and conventional loans with a decreased number of FHA loans, though in this area, we’ve always had far fewer FHA loans being used than other areas of the country. One reason for this phenomenon in September could be that there were more repeat buyers as opposed to first-time buyers, but that is just speculation on my part.
The absorption rate rose again this month, as expected. It will be interesting to see at what point it levels off this winter going into 2011.
*Information is deemed reliable, but not guaranteed to be accurate. Statistics in this report were obtained through the Champaign County Association of Realtors®