General Real Estate; Real Estate Sales Statistics; Main Areas; Oak Lawn @ 27 Jan 2010 12:55 pm by judyorr
The stats are back and let’s see how we did.
Detached Single Family Oak Lawn Homes Sold
# of Houses Sold | % Change | Average Sale Price | % Change
2009 | 2008 | | 2009 | 2008
313 268 16.8% $237,064 $196,518 -17.1%
Attached Oak Lawn Condos/Townhomes Sold
Attached single family is the combination of Oak Lawn condos, townhomes, duplexes, etc.
# of Houses Sold | % Change | Average Sale Price | % Change
2009 | 2008 | | 2009 | 2008
143 175 -18.3% $113,013 $142,449 -20.4%
Everything is down with the exception of single family Oak Lawn homes. Prices are down across the board and I can’t believe what I’m seeing. The average sale price of an Oak Lawn home is now under $200,000! We haven’t seen figures like these in many years.
Many sellers will not accept these facts and continue marketing their properties at boom prices. A home will sell in any market if it is priced right for the current market. If you need to sell because you’ve lost a job or have financial problems then you might consider a short sale. Just because you owe a certain amount of money on your mortgage does not mean you can get that price in today’s declining market.
You also have to consider the amount of Oak Lawn foreclosures competing against you. Sure, some of them are fixer uppers, but not all of them. There are some great Oak Lawn foreclosures and some just require cosmetic updating - well worth it for the low prices, even if you have to hire someone to do the work.
For past Oak Lawn real estate sales statistics starting from 2005, click the link. The data above was provided by the Northern IL MLS and our Mainstreet Board of REALTORS. If you’re interested in selling or buying an Oak Lawn home give Judy Orr a call at 708-536-8200 or fill out my Contact Form.
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