1st Qtr 2015 O'Fallon IL Housing Market Report
The O'Fallon IL Real Estate 1st Quarter numbers are in. Although the average price is down over 5% from last quarter, it's up nearly 3% from last year. Both the Final List/Sell ratio and the Original List/Sell ratio increased considerably from the previous year and previous quarter.
Inventory remains on pace with last year and as expected has increased considerably (16%) since last quarter as the weather has warmed and home owners have been able to do those last few projects to get their homes show ready.
|O'Fallon IL Market Statistics|
|Quarter Ending 1Q-2015|
|1Q-2015||Previous Period||Previous Year|
|Median Price||$180,500||$175,250 (3.00%)||$163,950 (10.09%)|
|Average Price||$183,711||$193,839 (-5.22%)||$178,384 (2.99%)|
|Sales Volume||$18,554,777||$21,709,926 (-14.53%)||$11,416,603 (62.52%)|
|No. of Sales||101||112 (-9.82%)||64 (57.81%)|
|New Pending Properties||90||69 (30.43%)||75 (20.00%)|
|Active Listings||324||278 (16.547%)||322 (0.62%)|
|New Listings||180||103 (74.757%)||152 (18.42%)|
|List / Sell Ratio||97.71%||96.83% (0.91%)||95.83% (1.96%)|
|Original List Price / Sell Ratio||95.04%||93.50% (1.65%)||91.95% (3.36%)|
|Days on Market||138||104 (32.69%)||151 (-8.61%)|
With a Barometer of 0.062, our market remains balanced. The Market Barometer is a rough estimate of the health of the local Real Estate market. It is calculated by the number the number of sales / active property) -.25, to allow for a negative value.
- The Market Barometer compares homes sold to current active listings
- A threshold of +0.10 indicates more of a sellers market, and a -0.10 indicates more of a buyers market. A ballanced market is anything in between
For more information, sign up for you personal Market Snapshot report.
Get your Personalized Market Snapshot!