This post was inspired by a post written by Brian Block, fellow Active Rain member and Realtor in Northern Virginia and Washington DC. You can read his original post here.
I found this market snapshot that he did of his area really interesting. I wondered how our numbers here in Madison County, Illinois compare. After a few hours of MLS research, here is what I came up with.
From April 2008 til April 2009 2,786 houses in Madison County sold. 174 homes sold in under 30 days, 643 sold in under 60 days, 469 in 90 days, 383 in 120 days, 274 in 150 days, 217 in 180 days, and 626 180+ days.
During this time, there were a total of 6,128 homes for sale. 2,760 of them sold, 1,247 expired or were taken off the market, 1,717 are still active and 404 have a contract pending. This gives us a percentage of 48%... that means 48% of the homes put on the market are not selling.
The number one reason houses don't sell? Price. I can't emphasize it enough. You can hire the best agent in the world, have the best marketing, hold open houses every Sunday - your house will likely still be for sale when your listing contract is up.
Here's the really telling information - if we look at the list to sell percentage of the houses that did sell, you'll see a trend that the longer your house is on the market the farther that number falls. (The list to sell ratio is real estate speak for the percentage of your asking price that you receive. For example, a $100,000 asking price with a 98% list to sell ratio is a closing price of $98,000).
Here's a break down...
30 days or less on the market - list to sell ratio is 98.8%
31 - 60 days on the market - list to sell ratio is 96.3%
61 - 90 days on the market - list to sell ratio is 95.1%
91 - 120 days on the market - list to sell ratio is 94.5%
121 - 150 days on the market - list to sell ratio is 94.4%
151 - 180 days on the market - list to sell ratio is 94.7%
181+ days on the market - list to sell ratio is 93.7%
The average listing price of a home during this time in the MLS was $155,165. If you listed at the right price from the beginning, you could expect to receive 98.8% of this price - or $153,303. If you priced your home too high, and had to chase the market down you would have sold for around $145,385 - a hypothetical loss of $7,918.
The best advice I can give to sellers is this... hire an agent that tells you the truth. Do not chose your listing agent based only on the price in their CMA. Ask them to talk to you about the current market conditions, how long you can expect your home to be on the market at different price points and what the current competition looks like. Remember that the market conditions - not the agent - determine the price of your home.
Don't risk your home becoming stagnant on the market. Price it right from the beginning, and the whole process will be faster, smoother and easier on you and your bottom line.
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About the Author: Kristina Pratt is a Realtor with the Just Ducky Homes team at Coldwell Banker Brown Realtors in Edwardsville, Illinois. She and Nancy Milton help their customers buy and sell homes and investment properties in St. Louis' Illinois suburbs of Madison and St. Clair counties with special emphasis on the communities of Edwardsville, Glen Carbon, Maryville, Collinsville and Troy. For more information, visit their web site at http://www.JustDuckyHomes.com or e-mail Kristina@JustDuckyHomes.com
This weekend grab your canine companion and head down to St. Louis for the annual "Bark In The Park" event. (My canine buddy is my dachshund, Missy - she's pictured below.)
Every year animal lovers and their four-legged friends converge on Cricket Field in Forest Park for a weekend of fun activities. This year's schedule begins with a Dog Walk for Animals at 11 am. 
Then get ready to be entertained by the Purina Incredible Dog Team. From noon until 2 p.m. the AB Clydesdales will be available for photos. At 1:00 Busch Gardens and Sea World presents Amazing Animal Athletes.
Make sure your dog is dressed to the nines and enter the Best Dressed contest. Or maybe your dog is athletic and you'd prefer to win the best stunt or trick award. There is also a contest for best dog/owner dance and best yodel or howl. (Missy would be perfect for this one).
Doggie derbys begin at 2:15, and awards range from fastest to slowest in different size categories.
All money raised at Bark In The Park goes to the Missouri Humane Society to help obtain veterinary care for homeless animals. The requested donation is $25 for adults and $5 for kids 12 and under and includes a free Bark In The Park t-shirt.
Missy and I will be there, will you? :)
For more information, check out the Humane Society of Missouri's website at http://hsmo.org/
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About the Author: Kristina Pratt is a Realtor with the Just Ducky Homes team at Coldwell Banker Brown Realtors in Edwardsville, Illinois. She and Nancy Milton help their customers buy and sell homes and investment properties in St. Louis' Illinois suburbs of Madison and St. Clair counties with special emphasis on the communities of Edwardsville, Glen Carbon, Maryville, Collinsville and Troy. For more information, visit their web site at http://www.JustDuckyHomes.com or e-mail Kristina@JustDuckyHomes.com
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About the Author: Kristina Pratt is a Realtor with the Just Ducky Homes team at Coldwell Banker Brown Realtors in Edwardsville, Illinois. She and Nancy Milton help their customers buy and sell homes and investment properties in St. Louis' Illinois suburbs of Madison and St. Clair counties with special emphasis on the communities of Edwardsville, Glen Carbon, Maryville, Collinsville and Troy. For more information, visit their web site at http://www.JustDuckyHomes.com or e-mail Kristina@JustDuckyHomes.com
If you know me, or you've read my posts about Edwardsville, it's no secret that I am a big fan of the Leclaire Historical District in Edwardsville.
Leclaire tells a story, has great architecture, is great for people of all ages and it even has a baseball field. (Stick around for a future entry about Leclaire field).
One of the hidden gems in Edwardsville is Leclaire Park. This park is about 6 acres and features a large fishing lake. Bring a sack of bread to feed the abundant ducks and geese. The little ones will enjoy three play areas. You'll also find a great spot for a lakeside picnic in one of the covered areas. At night, the park lights up with a beautiful lighted fountain.
The best thing about Leclaire Park? You can own a home of your own within walking distance. There are some wonderful homes currently on the market in Leclaire. If you're ready to make one your own, I'd be happy to help.
Enjoy some photos taken this weekend of Leclaire Park.
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About the Author: Kristina Pratt is a Realtor with the Just Ducky Homes team at Coldwell Banker Brown Realtors in Edwardsville, Illinois. She and Nancy Milton help their customers buy and sell homes and investment properties in St. Louis' Illinois suburbs of Madison and St. Clair counties with special emphasis on the communities of Edwardsville, Glen Carbon, Maryville, Collinsville and Troy. For more information, visit their web site at http://www.JustDuckyHomes.com or e-mail Kristina@JustDuckyHomes.com
Nothing says summer like outdoor dining in a park like setting at the Northside Dairy Haven.
This place is a summer favorite of folks all over central Madison County. It's only open during the spring, summer and early fall. You know spring is just around the corner when Northside Dairy Haven opens it's doors and the smell of BBQ and charcoal broiled burgers are in the air.
So what's so special about it? Glad you asked.
Not only does the Dairy Haven have ice cream as the name suggests, but they are a veritable smorgasbord of culinary delights. I highly recommend the 1/4 charo-cheeseburger with everything. Don't bother with the plain burger - make sure to get a charco-burger. Why? A charco-burger is a juicy burger with the taste of char-broiled goodness. It sits on top of a soft bun covered with cheese, ripe tomato, lettuce, ketchup, tangy mustard, onions and pickles. On the side I usually opt for fried mushrooms with ranch dipping sauce (it's a Midwest thing) and a large Pepsi.
My husband loves the pork steak platter. A juicy yet crisp BBQ pork-steak served with coleslaw and baked beans. To top it off for dessert his favorite 
shake flavor is blueberry. Other menu items of note are the delicious chili, pulled pork sandwich, various sundaes and my favorite - the crazy monkey. A frozen banana dipped in chocolate and covered with nuts. It's awesome.
Did I mention that we can eat there for under $13 total? It's cheap and good. Now that's a combination you don't find often enough.
Northside Dairy Haven
1902 N Main St, Edwardsville, IL 62025
(618) 656-9233
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About the Author: Kristina Pratt is a Realtor with the Just Ducky Homes team at Coldwell Banker Brown Realtors in Edwardsville, Illinois. She and Nancy Milton help their customers buy and sell homes and investment properties in St. Louis' Illinois suburbs of Madison and St. Clair counties with special emphasis on the communities of Edwardsville, Glen Carbon, Maryville, Collinsville and Troy. For more information, visit their web site at http://www.JustDuckyHomes.com or e-mail Kristina@JustDuckyHomes.com
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