O Fallon, IL

Good news!

19 homes closed in January in O'Fallon IL. Even better, this is up 6 from the January 2009 total of 13.

Of the 19 , all were re-sale. Average market time was 181 days.

Bad news!

Prices are down. Average sales price for Jan 2010 was $136,000 down from $157,000 for Jan 2009.

As I mentioned above 19 homes closed in Jan 2010, this is up from 2009 and in line with 2008 numbers.

Price still continues to dictate what is selling. This trend should hold steady thru the first quarter of 2010.

So all things considered...not bad there are signs of life. Currently there are 37 homes under contract in O'Fallon IL. Showing activity is strong and interest rates are still very attractive.

Stay Warm!

Greetings!

There is no escaping the images of loss and destruction from the earthquake in Haiti. The response has been overwhelming to say the least. In an effort to assist even further we are collecting shoes. So look in your closet, look under your bed. In my case take it away from the dog.

Chances are there is something for your feet you no longer need but can be put to very good use. No worries we won't comment on your choices in footwear. Both of our offices have been set up as drop off locations or just email us and we will come by and pick them up for you.

Thank you in advance for your continued support.

1668 Windham Way

O'Fallon IL 62269 (map it)

4 Emerald Terrace

Swansea IL 62226 (map it)

Regards,

“I decided to join Homes for Heroes as soon as I heard about the program. It is a great way to help out and give back to the men and women that do it for all of us on a daily basis. HFH gives me the opportunity to say ‘Thank You’ to our first responders, fire fighters, police offices and military personnel for all of their hard work in making our country a better place.”

Rick is Loan Officer with Gershman Mortgage in Ofallon Illinois. You can reach Rick at 618-222-1300 or email him at rkinchecloe@gershman.com

New Construction Homes in O'Fallon, Illinois
Keck Ridge Subdivision

Approximatly 4 Miles to Scott AFB

Starting from $186,900 to $249,900

Built by Larry Fulford Construction

Offered by
Realty Executives of Metro East
1109 Hartman Ln, Suite 200
Shiloh, IL 62221
(618) 235-0754

Click here to view our website and floorplans

Real Estate Market Update O'Fallon IL December 2009:

After a mild summer winter has arrived. As I write this it is 8 whole degrees.

December was a brisk month for Real Estate in O'Fallon. 27 homes closed so a lot of folks got a new home for the holidays.

Of the 27 that closed:

25 were pre-owned; these had an average sales price of $156,922 and an average market time of 177 days.

2 were new construction, with an average sales price of $237,907 and 166 days on the market.

Activity has been consistent from 2007-2009 for the month of December. This is encouraging given the current state of the Real Estate Market. For example In 2007 26 homes closed, 2008 30 homes closed and in 2009 26 homes closed.

While this is good news the average price for homes closed in December has dropped.

In 2006 the average sales price for December was $221,006 this December (2009) it is down to $162,921.

Price range still holds steady, the bulk of the homes closed fell below the $300,000 mark. This is a trend that has been consistent during 2009.

Stay tuned for the 2009 Year in Review!