Sunday, August 23, 2015

Single-family home prices are in Berkeley Illinois

Berkeley is a village in Western Cook County with a population of approximately 5200. The town is predominantly detached single-family homes. Real estate appraiser Michael Walsh recently completed an appraisal in Berkeley and shares his market analysis in this video.

The median sales price for single-family homes has been increasing over the last three years and in the last 12 months the median sales price increased 4.1%. Marketing times increased and their currently hundred days on the market as an average. At the present level of absorption there are 3.8 months worth of available inventory listed on the market, this level is considered in balance and in the last year bank owned and short sales accounted for approximately 39% of total sales.

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