Well, we are approaching the end of the year and the real estate market has certainly changed. There are still a tremendous number of homes available for sale and prices are starting to drop a little as the typical buying season come to a close. According to the Multiple Listing Service, there are 328 single family homes and condominiums listed for sale in Campaign County, 138 of them in the City of Urbana. Here is how the asking prices break down:

• 37% are under $100,000


• 29% are between $100,000 and $150,000


• 18% are between $150,000 and $200,000


• 8% are between $200,000 and $250,000


• 8% are over $250,000
  

Since January, the MLS has reported 311 sales in the County. the average sales price is currently $122,820 and the sales prices break down like this:

• 41% under $100,000


• 32% between $100,000 and $150,000


• 19% between $150,000 and $200,000


• 5% between $200,000 and $250,000


• 3% over $250,000

During the same period in 2006, there were 393 sales with an average sales price of $114,549 for a single family home. That's a decrease in sales of about 21 % but an increase of about 7% in sales price.

While the drop in the number of sales is not good news, the fact that prices have held up is encouraging. The real estate gurus think that the slump in sales will last through at least the 2nd quarter of 2008. But, since real estate is so area specific, that may not be the case in our County. Continuing employment issues and local government attitudes are the keys to how our market will fair in the near future.

If you would like statistics on your particular neighborhood or price range or you have any other real estate of financing questions, please give me a call and I will be happy to help you.

For Virtual Tours of our Lisitngs

http://www.thornhillplace.com/

For a complete list of homes for sale anywhere in the USA

http://www.remax.com