Welcome to March's Market Update. Lets take a look at residential real-estate activity in your area during the month of February. The number of active listings was down 12% from one year earlier, and down 2% from the previous month. This smaller inventory means that buyers who waited to buy may have had a smaller selection to choose from. As you can see, the median listing price for the month was just over 330-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was down 76%. This lower number of days may signal a positive trend in the local inventory-turnover rate. The median sale price was just under 180-thousand dollars. The number of units sold decreased 54% year-over-year, and decreased 35% month-over-month. Fewer sales could indicate an opportunity for buyers to negotiate better terms. 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.
Show Transcript
Map Information for Addison, IL
Area Information for Addison, IL
Population:36,762
Median Age:37.65 yr
Median Commute Time:25 mins
Educational Climate*:4
Sales Tax:0%
Population Density:3,713/sq mi
Population Change Since 2000:2.64%
Closest Airport:Chicago O'hare International
Closest College:Elmhurst College
Closest Jr. College:College Of Dupage
Median Household Income:$67,182
Annual Residential Turnover:0%
Median Home Sales Price:$295,000
Closest Major Sports Team:Kane County Cougars (a)
Change Avg. Household Income Since 2000:33.59%
* Scale from 1-5 ** Index where 100 is the national average
Demographic Data for Addison, IL
Median Age: 37.65Married: 39%Number of Households: 11,931Households with Children: 4,174
Community:
Occupancy Types
3599Vacant
8822Owned
12512Rented
Transportation to Work
43%Drive
47%Public Transportation
8%Walk / Bike / Other
8%Work at Home
National Index Comparisons:
(100 National Average)
Proximity to listed schools and their school district(s) does not guarantee enrollment eligibility. Please contact a local real estate professional or the local school district(s) for the most current information relating to schools in the area.