General Real Estate; Real Estate Sales Statistics @ 14 Apr 2008 09:11 pm by judyorr
Alsip Single Family Homes Sold
Alsip had a large drop in the number of single family homes sold from 2006 to 2007 of 34.2%. Prices dropped 5.9%. Based on this information Alsip sellers need to realize that appraisers are going to pick up on this downward trend and will base their appraisals on this information. I’ve seen low appraisals happening already in other towns so a home must be priced at today’s market value, not the value of several years ago during the robust Seller’s Market.
Alsip Condos and Townhomes Sales Statistics
There was a larger drop with attached properties in Alsip. The amount of units sold dropped 39.5% from 2006 to 2007. Prices also dropped 9.5%.
Compare Alsip real estate sales statistics for the past 3 years by clicking on the link.
If you compare with other towns, each one is different. Some towns actually had price increases. Some had decreases in single family homes but increases in the condo/townhouse market. Those of us in the real estate business like to remind people that real estate is local. These individual city statistics give the local reality.
How low will Alsip IL real estate prices go? Are we at the bottom of the price decrease? No one can predict what 2008 will bring although I have had a much slower start to this year than in 2007. Predictions are that the 3rd or 4th quarter of the year will pick up but that is our normal slow down time, when the school year begins followed by winter and holidays.
If you are thinking of buying and/or selling Alsip real estate give Judy Orr a call at 708-536-8200 or use my contact form.
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