Saturday, August 09, 2014

Harvey, IL a City in Decline


 

The City of Harvey is located in suburban Cook County, approximately 18 miles Southwest of the Chicago "Loop" the city is in decline. People are leaving, the population was 30,000, at the 2000 census, the population was 25,282 at the 2010 census. Real estate prices have been going down.

Real estate appraiser Michael Walsh recently performed a single family appraisal in Harvey and comments on the statistics. According to MRED MLS statistics for the last twelve months for MLS area 426 Harvey, the median sales price for Detached Housing decreased 6.79%, average marketing time increased +13.1% to 121 days on the market, and there is currently a 8.6 month supply of inventory. This level is considered a over supply. Bank Owned/REO & Short Sales account for approximately 75% of total sales.


2 comments:

Real Estate said...

just read your Points articles yesterday. excellent work


Joseph Russo said...

His dedication to finding us our first home was more than we ever expected. He was so Homer Glen real estate for sale patient with us as we toured homes far outside the Louisville metro area late into the evening. With our budget in mind, he was able to look at questionable issues in some of the homes we toured and provide completely honest feedback. His judgment was priceless,