Bartlett Illinois
Homes - $450,000 and up - Is anything selling?
Update for the Luxury Home Market
Well, to answer your question,
YES!
There have been 14 sales so far this 2008 year for the
$450,000 and up single family market. What are some
marketing tips that you might
want to know about if you are planning on selling your home?
Out of the
total
14 sales, only 1 home was built
before 1992.
Out of the 14 sales, 13 homes were built
after 2000.
They are considered 'newer' homes offering most of today's
features that buyers request. Hardwood floors, stainless
steel
appliances, open floor plans with 'Greatrooms', fireplaces, crown
molding, basements, remodeled kitchens, remodeled baths, 3 car garages,
brick and stone facades.
The top selling price has been
$1,100,600
and the average days on the market for this group is
224. There
are a few sales that have been only on the market for 7 to 30 days
which is
EXCELLENT
considering all the bad market press that we've gotten recently.
List price to sales price ratio has been from 92% to
98%. That equates to 2% to 8% off
the stated list price.
The normal ratio used to be around 3% during the 'good old
days'
with a fast paced market. One property did have a 21% sales
price
ratio which is very unusual and another instance of a
foreclosure
sale where that ratio was only 3%. Go figure!
My
advice to sellers after offering this research is buyers
do not want to do any work! As I reported previously in other
posts
,
buyers
are going to pick
the best house for the lowest price with the least amount of work
involved!
Newer
is selling - newer features are selling!
NO
WORK involved. NONE being
zero. No wallpaper removal, no painting, and for heavens sake
no kitchen remodel! I’ve also noticed
that buyers are becoming
'overwhelmed' with the process remodeling entails even in their
heads. So a warning to all sellers reading this
– your agent is not making this stuff up! Buyers do
not want to remodel your house! They don’t want to
change the 80’s wallpaper that you don’t even like
any more!
Wanna
see the RE/MAX Market Share in Bartlett?
Lyn
Sims (847)230-7324 at RE/MAX Suburban
The
Blog Dog knows Bartlett!
Email
her at: LynSims@remax.net
I proudly serve
and sell real estate in the Northwest Suburbs of Chicago. If
you are thinking about purchasing or selling your home in the
communities of Bartlett, Streamwood, Elk Grove Village,
Schaumburg, Hoffman Estates, Roselle, Palatine, Medinah, Itasca,
Bloomingdale, Carol Stream, Hanover Park, Elgin,
South Elgin, St. Charles and more importantly, want to work
with a local
area expert, contact me immediately.
Sources:
MRED MLS Northern IL, January-December 2008 Closed Sales in
coop with MRED.
Disclaimer:
All data and information provided on this blog is for
informational purposes only. Lyn
Sims makes no representations as to accuracy, completeness,
correctness, suitability or validity of any information on this site
and will not be liable for any errors, omissions, or delays in
information or any losses, injuries, or damages arising from
it’s display or use.
Bartlett Illinois Homes 450,000+ and up - Is Anything Selling? - 2008
Lyn Sims www.RealEstateConsumerInfo.com
