The Spring real estate is in full swing. What can Plainfield IL home sellers expect to see in this market?
To start, volume of single family detached home sales in Plainfield IL this March is down by about 11% compared to the same time last year, while the depreciation in the price of single family detached home market is up by about 17.2%. Single family homes in March of 2009 are selling for about 17.2% less than they did just 12 months prior, on average.
The average sale price of a Plainfield IL home was about $280,133 last year, compared to $232,056 in March of this year. The good news is that Plainfield IL homeowners who have sold have gotten about 96% of their asking price on average. That means if you house if your home is not over-priced, you should expect to receive about 96% of your total asking price, and that sellers are only having to make about 4% concessions during negotiation.
3 bedroom single family homes suffered a 16% total average depreciation from last year, while 4 bedroom Plainfield IL homes decreased in value by about 24% on average. In contrast, single family 5 or more bedroom homes increased in value by about 9.6% on average.
Market times in Plainfield IL are down about 20% when comparing March 2008 to March 2009, meaning they are selling in about 20% less time than they did last March, which is great news for anyone selling a home in Plainfield IL!
March 2008 Single Family Real Estate Market Statistics:
March 2009 Single Family Real Estate Market Statistics:
If you, or someone you know are thinking about listing your home for sale in Plainfield IL this Spring call me at 630-673-6233.
If you are behind in payments you may qualify for a short sale or loan modification. Call me to confidentially discuss your options regarding foreclosure.
Julie Ferenzi | Realtor®
Plainfield IL Homes
630-673-6233
