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1st quarter ‘08 update for Inverness homes and Real Estate:
Single Family Condo/Towhomes
Active listings: 74 Active listings: 26
Under contract: 7 Under contract: 2
Sold & Closed: 2 Sold & Closed: 2
Average days on market: 247 Avg days on market: 221
Selling is still slow going for Inverness homes, unless you price your property correctly. It is true in any market, and especially this one: when you are priced correctly you will sell. Buyers are looking for a good value and when they see it, they are willing to pay for it.
2007 saw 72 single family properties sell and close. They had an average price of $724,112 and took an average of 232 days to sell. There are 59 listings on the market right now with 6 of those under contract with buyers.
Take a look at the past 3 mos activity for Inverness single family homes as compiled from the Multiple Listing Service of Northern Illinois:
Total Listings: 90
Available: 78
Under Contract: 4
Closed: 8
The numbers continue to tell the story. And in higher priced markets the news is usually worse in this type of market. Average market times in Inverness are climbing. 387 days for the under contract listings. 202 for available.
