Bartlett Illinois Homes - $450,000 and up - Is anything selling?

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