Market update for Washington

With everything Washington, IL has been through since the tornado ripped through there in Nov of 2013, it has been an interesting market to watch in terms of sales and data. For the latest figures, which take into account sales and activity up through the end of July 2014, we have the following:

For the month of July 2014, new homes coming on the market were down 8.6%, closed sales were up 11.8% and the average sales price was up 15%. You need to remember this is a smaller market, so it doesn’t take much to jump the percentages up and down. For example, closed sales being up 11.8% means that in July 2013 there were 34 sales compared to 38 sales in July 2014. Days on market was down form 69 days to 47 days-a nice drop of 31%.

Year to date totals, from Jan 2013-July 2013, compared to Jan 2014-July 2014, show the following:

New homes coming on the market were down 12.4%, closed homes were down 17%, average sales price was up 7.5% to $197,164. The listing price to sales price ratio was about the same…95.9% and the average days on market was down from 75 days last July, to 60 days this July, which was about 20%.

Leave a Reply

Your email address will not be published. Required fields are marked *