About Champaign County, IL

Champaign County IL Real Estate Market Report, December 2011

December 2011 Residential Sales Information Compared to December 2010

The following real estate market information concerns only residential sales in greater Champaign County, IL and includes houses, condos, co-ops, and zerolots

December 2011 Closed Sales Statistics:

• 164 units sold
• $129,688 average sale price
• 95.2% sale-to-list price ratio
• 126 average days on the market

December 2010 Closed Sales Statistics:

• 150 units sold
• $129,087 average sale price
• 95.0% sale-to-list price ratio
• 93 average days on the market

What's going on in our Champaign, IL real estate market?

Yet another December has passed us by and the month ended up looking a lot like last December...at least in terms of real estate! As you can see above, actual statistics for December 2011 were pretty similar to December 2010. Overall, days on the market has increased this year, yet we ended December with about 5% fewer homes on the market than last year and with a lower absorption rate (see chart below).

What this means is that we're off to a slightly better start for 2012, at least as far as sellers are concerned. As for buyers, keep watch on those interest rates as they've once again reached all-time lows and there's no way of knowing how long it will last.

Look for our Champaign, IL 4th Quarter and Yearly housing market reports here on our blog in the next day or two!

What is an Absorption Rate?

Last Month's (November) Market Report

*Information is deemed reliable, but not guaranteed to be accurate. Statistics in this report were obtained through the Champaign County Association of Realtors®

Last year around this time, I searched high and low...literally...to come up with a list of real estate extremes for the previous year. What was the most expensive home sold in and around Champaign IL during the year? Which home had the least square footage? etc. It was such a fun exercise I've decided to do it again!

Let's take a look at real estate extremes for 2011:

Most Expensive Home Sold: Situated in Greencroft subdivision in Champaign, this stately home sold for $1,025,000. A close runner-up located nearby sold for $955,500. Interestingly, there were 8 homes that sold in 2011 for $700,000 or more. In 2010, there were only 2.

Least Expensive Home Sold: A foreclosure in Valier, Illinois in Franklin County sold for $3,400. As you might expect, it was in need of a little TLC. It was one of two homes that sold for under $5,000 and one of 22 that sold for less than $10,000. All of these homes were located outside of Champaign-Urbana city limits.

Most Bedrooms: Sold to a company rather than an individual, this home with 12-bedrooms in west Urbana is surely being used as an investment property. The home is only steps away from the university.

Most Bathrooms: We have a tie! One home had 5 full baths and 2 half baths (also the most expensive home sold) and another had 4 full baths and 3 half baths. 7 total baths each!

Largest Home Sold: Once again, the most expensive home sold wins this round with over 7,000 square feet of finished living space.

Smallest Home Sold: With only 500 square feet of living space, this one-bedroom one-bath home in Valier, Illinois might just be the epitome of low-maintenance!

Oldest Home Sold: Built in 1857, this traditional farmhouse-style home is more than 150 years old. It’s located in Roberts, Illinois in Ford County.

And in case averages are of more interest to you than extremes, a typical home sold in 2011 in and around Champaign County had 3 bedrooms, 2 bathrooms, was purchased using a conventional loan and averaged in sale price just under $140,000.

Guess who I found strolling along Candlestick Lane this evening? None other than Santa Claus!

Candlestick Lane, otherwise known as Grant Place, has for 50 years been an Urbana holiday tradition. It began in the early 1960s when the power company sponsored a house decorating competition. The homes on Grant Place won and ever since have decked their homes with lights, holiday decor and, of course, candlesticks during the weeks leading up to Christmas.

During those weeks, all the homes are lit up from 5pm to 10pm daily and on some evenings, such as tonight, Santa hands out candy in the middle of the street as cars, bumper to bumper, slowly pass by with passengers marveling at the sight.

The light show continues through Christmas day. Be sure to drive by...and please give my kind regards to Santa!

What's the one thing that can put a damper on downtown holiday shopping? Paid parking!

Let's face it: no one likes pulling into those downtown parking spots, fishing for change in your pockets and car seats, and then attempting to keep track of time while you're shopping so that you don't arrive back at your car to find the dreaded parking ticket.

But yesterday on my visit to the Urbana library I was reminded of the City of Urbana's yearly holiday gift to its residents and visitors: free downtown parking. As I pulled into the parking lot, I saw the little bags covering the parking meters that read "Happy Holidays" and "Free Parking" and my day got just a little merrier :-)

It's the one time of the year when parking just about anywhere in the downtown area and a few places in the campus district won't cost you a thing, so take advantage of it! Simply look for meters that have been covered with the City of Urbana holiday bags.

In some locations, there's a two-hour parking limit per day, and in most cases that should be plenty of time to visit your favorite shops or restaurant. But if long-term parking is what you need, park in the parking garage which is also reportedly free for the holidays!

Champaign city is doing something similar this year by offering free parking for up to four hours in the Hill Street parking garage to anyone who spends at least $5 at a downtown business or restaurant. Just hold onto your receipt to give to the parking deck attendant on your way out and your parking fee will be waived. This little gift from the city is valid Monday through Friday throughout the month of December (parking is always free at the parking garage on Saturdays and Sundays)!

To the cities of Champaign and Urbana, many, many thanks! And to the rest of you, happy shopping!!!

Three meals a day (plus a snack or two in between) is something most of us take for granted. The fact is, many people go hungry every day. Yes, even here in Champaign-Urbana, there are people who don't know where their next meal will come from.

The Eastern Illinois Foodbank published a list of local food pantries and churches that are providing take-home meals to be prepared or are serving hot meals to those in need. A number of these places are even serving meals on Christmas day.

If you know of someone or a family in need, give them a copy of this list so they take advantage!

The Eastern Illinois Foodbank has also published a list of organizations in need of volunteers. Assistance is needed for the following tasks:

• Serving food
• Carrying groceries & sorting clothing
• Making a dish to share at a potluck
• Greeting clients
• Working in a garden

Either groups or individuals are welcome in most cases. This could be a wonderful thing for a small office to participate in or to do as a family as volunteering can be a great way to bring people closer together and renew your own feelings of gratitude for what you are blessed to have.

Visit the websites above for contact information and to learn more about how you can help others in need this holiday season!