Clarendon Hills is a village located in DuPage County, Illinois. As of the 2000 census, the village had a total population of 7,610. The village has a total area of 1.7 square miles.
Clarendon Hills is located 22 miles southwest of the Chicago "Loop". Several major interstates and highways are accessible from the area, including Route 83, I-88, I-55, I-290 and I-294. Both O’Hare and Midway airports are within 15 miles of Clarendon Hills. The village is adjacent to a high-tech research corridor that includes Fermi Lab and Argonne National Laboratory. Neighboring cities include Westmont, Hinsdale, and Willowbrook.
According to data from the Northern Illinois MLS, there were 97 sales of single family homes in 2007. The sales volume was up from 86 sales in 2006. Sales prices increased with the average 2007 sales price at $810,499.00, compared to $796,750.00 in 2006. Marketing times were an average of 196 days on the market, up over the 2006 average of 118 days.
As of January 17, 2008 there are 103 active listings of single family detached homes in the MLS. At the 2007 level of absorption this is 12.74 months of unsold available inventory. A 3-4 months supply of inventory is considered "in balance", this level is an oversupply.
To recap 2007 for detached homes, sales volume was up +12.79%, average sales prices were up +1.72%, and the days on the market were up +66.10%. This market is oversupplied and the 103 active listings have already been on the market an average of 291 days.
The condo/townhouse market had 35 sales down from the 70 properties that sold in 2006. Sales prices saw a increase with the average 2007 sales price at $246,768.00, compared to $211,701.00 in 2006. Marketing times were an average of 327 days on the market, up over the 2006 average of 312 days.
There are 27 active listings of attached homes in the MLS. Based on the 2007 level of absorption this is 9.27 months of unsold inventory.
The condo/townhouse market is over supplied, sales volume was down -50.00%, average sales prices were up +16.56%, and the days on the market were up +4.80%. The 27 active MLS listings have been on the market an average of 238 days.
If you have an active listing or need to sell in 2008 now is the time to get an appraisal. The market has changed and only the most competitively priced homes will be selling soon.
Make sure that your listing is competitive, get a current appraisal. Complete appraisals of single family homes and condominiums start at $275.00. this is a small price to pay for knowledge that will help you position your house to sell in the current market.
Citywide Services provides residential appraisal service in Clarendon Hills, Illinois 60514. Our appraisers are certified by the State of Illinois. We have experience with all types of residential property and appraise single family homes, townhouses, condominiums as well as small residential income properties. When you need to find an appraiser in Dupage County contact Citywide 1-800-405-9718
Post a Comment