Video: Real Estate Community Tour for Burr Ridge, IL
See Real estate community tour for Burr Ridge, IL
Welcome to May's Market Update. Let’s take a look at residential real-estate activity in your area during the month of May. The number of active listings was up 7% from one year earlier, and up 4% from the previous month. This continued upward trend reflected a healthy inventory for buyers to choose from. As you can see, the median listing price for the month was just under 950-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was down 27%. This lower number of days may signal a positive trend in the local inventory-turnover rate. The median sale price was just under 480-thousand dollars. The number of units sold decreased 11% year-over-year, and increased 70% month-over-month. Despite a slight annual decrease, this upward monthly sales trend indicates positive momentum. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.