We are finally coming out of the deep freeze that our area was under for the last few weeks. The first week of 2018 is already behind us and for some of us we may have already broken our New Year’s resolutions. So how did Oswego, IL home sales do in 2017 compared to 2016?
In the single detached category there were 558 closed sales compared to 2016’s 607. This was an 8.1% drop compared to 2016. The average sales price increased 5.1% to $274,330 from 2016’s $260,966. The median sales price increased 5.9% to $270,000 from $255,000 in 2016.
Considering the low inventory and higher prices this was a sold year for home sellers. Buyers are still willing to buy homes in our village and 2018 will continue to see strong sales.
The attached homes were just as strong with 205 sales in 2017 compared to 216 in 2016. This was only a drop in sales compared t 2016. The average sales price for TH/duplex/condo’s has increased 13.9% to $167,135 from 2016’s $146,801. Median home prices also increased 13.3% to $170,000 from $150,000 in 2016!
As single family detached prices go up buyer’s that are buying for the first time end up looking at attached single family homes to meet their financial goals because of lower purchase prices.
If you are thinking about buying a home in Oswego, IL in 2018 – start today! Prices will continue to go up as the spring market approaches and if interest rates go up on mortgages your buying power will be less in spring!
There are currently only 97 available homes in the single detached category as of today 1/8/2018. We already have 38 homes under contract and 9 homes already in pending status.
The attached homes category only has 25 available homes today! There are 20 under contract, and one pending already in the first week of January, 2018.
Buyers that are serious are not letting snow, ice or deep freeze stop them from making their real estate goals a reality.
Call Heart Realty Group to get the ball rolling in your search for your perfect home in 2018!