2009 Real Estate Market Statistics for Oak Brook Illinois
Courtesy of Laura Karambelas, Oak Brook Resident & Realtor with Baird & Warner
Comparing January 1, 2008 through February 8, 2008 VS. January 1, 2009 through February 8, 2009
**SINGLE FAMILY HOMES**
January 1, 2009 through February 8, 2009
There were 2 closed properties with an average of 176 days on the market.
Average List Price $761,500 Average Sales Price $655,000
January 1, 2008 through February 8, 2008
There were 2 closed properties with an average of 247 days on the market.
Average List Price $1,658,000 Average Sales Price $1,375,000
Current Active Properties & Homes Under Contract
There are currently 84 Active Single Family Homes with an average of 333 days on the market.
The average list price for these homes is $1,982,812.
There are 4 Pending/Contingent homes with an average of 266 days on the market.
The average list price for these homes is $2,696,000
For a Comprehensive Market Analysis contact:
Laura Karambelas, Realtor & Oak Brook Resident at 630-964-3276 or
visit my website at www.LauraKarambelas.com
*Information taken for MRED, LLC and is deemed reliable but not warranted*
Downers Grove Real Estate Market for 2009
Courtesy of Laura Karambelas, Realtor, Baird & Warner Downers Grove
Comparing January 1, 2008 through February 8, 2008 VS. January 1, 2009 through February 8, 2009
**SINGLE FAMILY HOMES**
January 1, 2009 through February 8, 2009
12 Properties Closed with an average market time of 291 days.
Average List Price $411,583 Average Sales Price $369,267
Homes closed from $200,200 to $637,500
January 1, 2008 through February 8, 2008
13 Properties Closed with an average market time of 197 days.
Average List Price $383,838 Average Sales Price $355,385
Homes closed from $220,000 to $625,000
We currently have 350 Active Single Family Homes on the market as of 2/8/09.
Average List Price is $564,044 with an Average 258 days on the market.
For a Current Market Analysis on your home call:
Laura Karambelas, Downers Grove Realtor at 630-964-3276 OR
visit my website at www.LauraKarambelas.com
*All information was taken from MRED,LLC and is deemed reliable but not warranted*
LPDA stands for Localized Poor Drainage Area. The Village of Downers Grove Illinois identified these areas as locations prone to flooding due to the topography of the land or land that is "bowl" shaped. Storm water runoff that can not penetrate the ground tends to accumulate in LPDA's creating flooding. LPDA's serve as natural detention basins to limit flooding in other areas of the Village. LPDA's are not officially recognized by FEMA as regulatory flood plains, however the Village building codes regulate both LPDA's and flood plains similarly.
Am I in a LPDA?
You can check the Village Drainage Control Map to see if your property is near a LPDA. You can click here for more information: http://www.downers.us/assets/production/doc_related_doc/file/243/Village_Drainage_Control_Map.pdf
or you can obtain available flood elevation information from the Village Works Department at: 630-434-5460.
What is the risk of flooding in these areas?
The risk of flooding in a LPDA are generally higher than areas not in a LPDA or flood plain. The actual level of risk depends upon the specific location within the LPDA.
You can contact the Village Works Department with any questions you may have. They will be able to explain about flood insurance, how to minimize the risk of flooding, what to do if you notice flooding, and any limits to use of your property. The phone number for the Village Works Department is: 630-434-5460.
FEMA's website is www.fema.gov and their contact number is:800-621-FEMA
Here is a comparison of 2007 vs. 2008 for the Downers Grove, Illinois Real Estate Market. I am comparing closed single family & attached homes from Jan. 1, 2007 thru Dec. 31, 2007 vs. Jan 1, 2008 thru Dec. 31, 2008.
1/1/2007 thru 12/31/2007
Single Family Homes
420 single family homes closed during this time period.
The average sales price was $489,357
The average days on the market was 151 days
The average list to sales price was 96%
Attached Homes
210 attached homes closed during this time period.
The average sales price was $198,301
Average days on the market was 99 days
Average list to sales price was 97%
From January 1, 2008 thru December 31, 2008
Single Family Homes
342 single family homes closed during this time period. (78 less than 2007)
The average sales price was $451,796 (down 8% from 2007)
Average days on the market was 196 days (45 days of a longer market time)
Average list to sales price was 94% (down 1% from 2007)
Attached Homes
145 Attached homes closed (65 less than 2007)
The average sales price was $211,685 (up 7% from 2007)
The average market time was 202 days (103 days of a longer market time)
The average list to sales price was 96% (down 1% from 2007)
For more information on selling your home in Downers Grove, Illinois contact:
Laura Karambelas-Realtor
Baird & Warner
View my website at: www.bairdwarner.com/laura.karambelas
We are spending New Year's at our lake house in Keshena, Wisconsin on Legend Lake as we have for the past 3 years. We are located about 30 miles NW of Green Bay, Wisconsin and they have had a record 59 inches of snow so far this year. The scenery is absolutely beautiful and I decided to share a couple of photos with you. I hope you enjoy them.
HAPPY NEW YEARS! I hope 2009 is a year of health, happiness & many blessings.
Laura Karambelas
Illinois Realtor since 1996. Providing useful information about the Real Estate Market in the West and Northwest suburbs of Chicago. Counties of Cook & Du Page. Oak Brook Illinois resident.
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