After enjoying a white-hot marketplace fueled by strong buyer demand, low inventory and record low interest rates, we began a slow, predictable return toward a more typical market. Though we have experienced a return to stability with a rise in interest rates and increased inflation, our market remains resilient and resistant to discouraging national trends. In 2022, our market saw 1443 units sold, down 9%, and a total of $199,000,000 in total sales volume, down 7.5%. Driven by low inventory and continued buyer demand, home values remain strong with average sales price rising 2% to $138,475 and the median sales price rising 5.8%. In further positive news, 78% of homes sold in Macon County were on the market less than 30 days; 91% sold in less than 60 days.
Brinkoetter Realtors was involved in 50% of all residential transactions in Macon County. On the list side, our average sales price of $169,000 was 22% higher than the MLS Macon County average and yielded a 99% List-to-Sell percentage. A small difference in sales price could mean a big difference at the closing table.
Though national headlines leave would-be buyers and sellers with a crisis of confidence, here in Macon County the news remains optimistic. “A lot of what you see on the news can vary greatly across the country,” says Brinkoetter Realtors Designated Managing Broker/ Owner, Tom Brinkoetter. “Our local market is not impacted on the same scale as larger metro areas like Chicago, Las Vegas, Phoenix, San Francisco. This is evident in the migration of consumers from outside of Central Illinois looking to relocate and reduce cost of living. Our market will remain strong and attractive due to its stability and affordability.”
Continues Brinkoetter, “The biggest challenge in our local market as of today is the lack of inventory. But our challenge is a seller’s greatest opportunity. Listing your home now in this less-competitive market could mean more potential value for your home and the chance to capitalize on a great moment to make a change.”
For the takeaway, we encourage you to not be rattled by what you read and hear, the strong buyer trend continues leaving an advantageous real estate market for sellers. If you’re thinking about listing your home, we offer a Free Comparative Market Analysis with no pressure to list your home. Knowing the potential value of your property not only lends to a more-informed decision about listing and determining an appropriate asking price, it provides you critical information about potential equity you have acquired.
Let’s start a conversation! Click here to learn more or follow the link to connect with your Brinkoetter Agent.
Brinkoetter Realtors leads the industry with interactive software, innovative communication, cutting-edge technology, and a highly-skilled team, committed to serving our clients throughout Decatur and Central Illinois. Get more attention, more exposure and make a bigger impact when you list with Brinkoetter Realtors. Go to Brinkoetter.com to connect with one of our agents today!
*statistical data sourced from the Central Illinois Board of Realtors, MLS for Macon County residential listings
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