General Real Estate; Other Areas; Real Estate Sales Statistics @ 18 May 2008 05:29 pm by judyorr
Comparable Sales Statistics for Bridgeview IL Real Estate from 2006-2007
If you read through the sales statistics on this website you’ll see a difference between every town. Total sales and prices were down from 2006-2007 for Bridgeview, IL. Use the Bridgeview Real Estate Sales Statistics link for data from 2005-2007.
|
Single Family Homes |
2006 |
2007 |
|
Total Amount of Homes Sold |
81 |
51 |
|
Average Sale Price |
$254,933 |
$246,147 |
These figures represent a 37% drop in total properties sold and a 3.4% price decrease. The decrease in homes sold is quite substantial and it feels like 2008 will be even worse.
|
Condo/Townhomes |
2006 |
2007 |
|
Total Amount of Homes Sold |
30 |
32 |
|
Average Sale Price |
$234,557 |
$193,706 |
The attached property sales figures represent a 6.7% increase in units sold but a large price decrease of 17.4%
The above figures show that all in all Bridgeview sales and prices have declined with the exception of a slight increase in condo/townhouse sales (only 2 more units sold from ‘06 to ‘07). I believe we will see further decreases and no one knows when the market will start improving.
This is another reason it is difficult creating a Comparative Market Analysis in many areas showing such decreases. We cannot compare prices from 2007 to today’s market values with increased inventories and market time. I’ve been hearing more about low appraisals so that is another aspect of selling that home sellers need to keep in mind.
Because of declining prices and increased inventory, it’s a great time to buy Bridgeview real estate. Give Judy Orr a call at 708-536-8200 or use the Contact Form if you’d like to view any Bridgeview homes for sale. Or check the Bridgeview MLS to search every single active listing for a Bridgeview real estate search.
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