The headline in the Peoria Journal Star on 7/15, reads…
“Peoria area’s second quarter home sales rise.”
In reading further into the article, it details that “rise” is .5% for the central Illinois market as a whole, which specifically is 8 more homes sold in the second quarter of 2016 compared to the second quarter of 2015 (1,702 homes up to 1,710 homes).
I’m all for positive headlines wherever they can be found. I look at the national market, the local market, and then our specific market within the local market. The more knowledge we have on the market, the better we can position our homes to sell.
Specifically for the Dunlap market, the closed sales in the 2nd quarter of 2016 compared to the 2nd quarter of 2015 were down 25% (84 homes to 63 homes). Homes for sale were up 46.6% (103 to 151). Months supply of inventory was up 53.7% (5.4 months to 8.3 months). Median sales price was down 14.5% and Average sales price was down 15.4% ($338K to $286K).
So that’s the 2nd quarter 2016 results for Dunlap compared to the 2nd quarter of 2015.
For the specifically the month of June 2016 compared to June 2015 in Dunlap, we have the following stats.
New homes coming on the market, up 25.6%,
Closed sales were equal–0% change at 30 closed homes in June 2016 and June 2015.
Days on market-also unchanged.
Inventory/supply of homes for sale overall, up 47.9%, from 96 homes in June 2015 to 142 homes in June 2016.
For a detailed breakdown of the June data for Dunlap, click here.
For a detailed breakdown of the overall central Illinois market, which also breaks down specific price range data, click here.
For specifically the 2nd quarter 2016 data, comparing it to 2015, for Dunlap as well as the other area markets, click here.