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

Quick Facts

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!  

__________________________________________________________________________