Video: Real Estate Community Tour for Burr Ridge, IL
See Real estate community tour for Burr Ridge, IL
Welcome to June'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 down 13% from one year earlier, and up 5% from the previous month. This recent increase reflected a larger selection of homes for buyers to choose from. As you can see, the median listing price for the month was just under 900-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was down 8%. This lower number of days may signal a positive trend in the local inventory-turnover rate. The median sale price was just under 580-thousand dollars. The number of units sold increased 16% year-over-year, and increased 22% month-over-month. These figures may indicate that buyers have been taking advantage of opportunities in this market. 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.