I know I say this alot, but I really like this statistic. It’s something I admitadly never really looked at as a percentage but for sure see the value in it. This chart takes a look at all single family detached homes sold in Du Page County for 2008:
Any way you slice it, chart it, graph it or whatever they are all telling us the same thing. Market time in Du Page is up as is the Months Supply of Inventory. Down are the average and median prices as well as the percent of homes currently under contract. I mean think about this…if there are 100 homes for sale in April (which saw the best % of homes under contract) then 7.7 of those homes were under contract. Out of 100. Crazy. The average % of homes under contract for all of 2008 was just under 6%. Be on the lookout for a post regarding the stimulus package and what goodies are going to be attached for potential home buyers this year (and not just first time buyers.)
Here is one thing I’d like to ask. Which of these charts do you like? I love putting them together but feel a few of them tell us the same thing just in a different way. I like Months Supply of Inventory and this chart on % of Homes Under Contract. Do we need days on market or can I just talk about? Tell me what you think and I’ll keep putting them out there. Enjoy!
