Was it a good year in 2013 for Inverness IL homes sold and how do you or I measure our answer? To come up with any kind of response we must look at data and the best source is from our multiple listing service. Known as the MLS it tracks homes listed and sold. We can also extract other data on a time basis. For example what was the average marketing time for the whole year, or a quarter or even a month.
To get a sense of how well home sales did in Inverness Illinois in 2013 you might like to review my market chart of Inverness home sales from 2007 to 2012. It showed an energetic year in 2012 compared to the previous five.
2013 market activity was identical to 2012 with a total of 123 homes sold. Interesting!
I expected it to have climbed a little.
Some Final Comparison Data For Inverness IL Homes Sold in 2012 and 2013
Average marketing time:
- 2012 – Detached homes – 284 days
- 2012 – Attached homes – 231 day
- 2013 – Detached homes – 167 days
- 2013 – Attached homes – 87 days
Average marketing times have come down substantially.
List To Sales Price Ratio:
- 2012 – Detached homes – 93%
- 2012 – Attached homes – 94%
- 2013 – Detached homes – 95%
- 2013 – Attached homes – 95%
Stronger asking prices and stability in market.
Average sales prices for Inverness IL Homes Sold:
- Detached homes – $586,224
- Attached homes – $366,597
- Detached homes – $568,713
- Attached homes – $360,960
A reduction of about 2/3%. Part of the market stabilizing.
Current Active Listings With No Contract:
- This time in 2013 – Detached homes – 53
- This time in 2013 – Attached homes – 5
- Now 2014 – Detached homes – 40
- Now in 2014 – Attached homes – 6
Less choice for buyers. Will we see more come to market in spring. When is spring? Can someone let Mother Nature know we are seriously fed up with winter.