Hinsdale Area Market Report

I spent a few hours this morning looking over stats for the MLS listings in the Hinsdale area. Homes sales are clearly down from 2008. This is what I see from the reports, indicating that it is still a good buyers market. Call me for more information on homes for sale.

Home sales are down 16% from 2nd quarter 2008, which was already lower year over year from the 2nd quarter of 2007 and 2006. Many of the transactions that did go through were discounted builder properties, bank owned properties and short sales. This is the current trend for transactions in DuPage County and the western suburbs of Chicago.

2170 homes single family homes closed in Dupage for the 2nd quarter of 2009. The average market time for these listings was 188 days, and the average sale price was $329,921.

In the 2nd Quarter of 2008, there were 2285 home sales with an average sale price of $375,931…

This totals to a drop in sales of around 5%, and a pricing drop of 12%. Homes are getting more affordable in Dupage County… This is in part to the many foreclosures that lead to Bank sales, and short sales. (Where sellers cannot pay anymore, and the lenders take less at closing, to avoid the extra costs involved with a foreclosure.)

Home sales are up across the country, and in Illinois…but it doesn’t look like this is the case in Dupage County. So buyers, you can still get a good deal!

Don’t forget the $8000 1st time buyer credit expires 11/30/09! You must close on or before that date to qualify!

The data in this post is from MLS Service.