Here is a look at the average days on market for detached single family homes in Westmont, IL. The average here is for SOLD homes and not those under contract. Take a look:
The average market time in Westmont for the year was just under 100 days or just over 3 months. Kind of what I figured. Note that spring market and the market times are down a little. This is also when the home sales start to pick up.
Take this into account with all of the information and you get a pretty good picture of the current market. Months Supply of Inventory is way up. Average and Median Prices are down. The number of new listings vs. the number of sold listings just adds to above mentioned inventory. This drives the prices down.
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