Highland Park IL Real Estate Market Update for 2010
2010 has come to an end – what will 2011 bring? As an active REALTOR I think that it is premature to forecast 2011. The opinions are all over the board – some believe that it will be similar to 2010, others fear it will be worse and some think that it will be a very good Spring Market.
Below is a snap shot of Real Estate transactions during 2010 in Highland Park:
| Bedrooms | # Sold | % Sold | Average Original List Price | Average Last List Price | AverageSales Price | SP:LP | SP:OLP | Average MT (Sold) |
||
| All | 286 | 100% | $740,105 | $673,501 | $602,465 | 89% | 81% | 228 | ||
| 2 or Less | 11 | 100% | $528,036 | $494,982 | $455,773 | 92% | 86% | 88 | ||
| 3 | 103 | 100% | $420,448 | $383,207 | $351,440 | 92% | 84% | 190 | ||
| 4 | 120 | 100% | $780,409 | $707,463 | $632,601 | 89% | 81% | 254 | ||
| 5 or More | 52 | 100% | $1,325,122 | $1,207,898 | $1,061,174 | 88% | 80% | 273 |
Summary: A total of 286 closed transactions took place in Highland Park in 2010 with an overall average sales price of $602,465 and an overall average market time of 228 days. If you take a closer look many homes had a significantly higher original list price and once the list price of the home was adjusted it SOLD.
If you are planning on selling your Highland Park IL home in 2011 call me for a comparative market evaluation of your residence. Some important tips to keep in mind: 1. List to sell – your house will need to shine within its price bracket. 2. List with a real estate agent who presents you with a marketing plan- know what kind of marketing and exposure your home will receive. 3. De-clutter – get rid of things that you do not plan on taking with you – donate, have a garage sale or sell on eBay.
The above article, Highland Park IL Real Estate Market Update for 2010, was written by Noah Levy – A REALTOR assisting sellers and buyers with their real estate needs.
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