As we rounded the halfway point of 2020, we reflected back on the 6 months behind us. We’ve moved from a pandemic lockdown to a gradual reopening. The novel coronavirus (COVID-19) has reshaped how we live our lives. Unique health, social, and economic factors have intersected to create an equally unique housing environment. Even during these inclement times, our local real estate market remains strong. As we emerge from these unprecedented times, we take stock of the present and make plans to move forward.
One question residents of Macon County want to know: What’s happening in our local real estate market?
Through the first half of 2020, there were 636 sales vs. 574 sales in the first half of 2019 which represents a 10.8% increase in the number of homes sold. The average sales price increased 6.17% to $120,931 in 2020 from $113,904 in 2019. The list to sales price ratio remained steady at 95%, along with days on the market at 77. All of this serves as a testament to the health and resilience of our local real estate market.
”Pending sales are running almost parallel to the number of active listings in Macon County,” says Brinkoetter Realtors Owner and Designated Managing Broker, Tom Brinkoetter “leading to homes selling as quickly as they’re coming on the market. Though inventory volume remains low, the market is stronger compared to year over year total sales.”
Says Brinkoetter, “Now more than ever, it's critical to be prepared before planning your next move. Get in touch with your lender, obtain a pre-approval letter, and be ready to make an offer. In our current market, we are seeing multiple offer situations. Low inventory, low interest rates, and steady demand are driving a quickened pace and competitive race for buyers to find a new home.”
Pro Tips:
~ When you’re actively looking, be sure to check the New Listings page to stay on top of fast-moving market.
~ At Brinkoetter.com, detail pages for all of our listings offer interactive floorplans, 3D Virtual Walkthroughs, Video Tours, and HDR Photography that allow you to step inside your future home from the safe comforts of yours.
“As a company, we are adapting to the changing times; how we conduct business, how we interact with our clients, and how we move forward,” states Brinkoetter. “We’ve always prided ourselves on being innovative and proactive which has allowed us, and our team of experienced agents, the agility to provide continued quality service to our clients and the community. We are present in today and are looking forward to tomorrow.”
Whether you’re looking to buy or sell, Brinkoetter Realtors has the team and resources you need to get started. Give us a call 217-875-0555 or visit Brinkoetter.com today!
*statistical data sourced from the Central Illinois Board of Realtors, MLS
Posted by Ryan Campbell on
Leave A Comment