I was curious how many homes were currently listed as on the market in town, so I did a search at ksgmac.com. (Well, actually, I had to do 3 seaches, because they will only give 200 returns per search!)

That site identified 413 homes, including condos. 47 were asking in excess of $1 million, and 122 were asking between $500-999K.

I also counted 23 different listings for condos on Pennsylvania, asking from $589K to $1.120 mill.

Will be interesting to see how these numbers change as we enter what is usually the prime real estate season.

There is a house at the top of my block....about the same details as mine...that just got listed this week at $675K I have always thought that on a good day mine would bring $75K-$100K less...and I have a newer kitchen and now a new master bath. Ask for the world, settle for a country, I guess.

On a somewhat related note, after viewing some of the addresses that were in the foreclosure process on a Message Board thread several months ago, the outcome of one seems evident. One of the pending foreclosures is at the intersection of Lenox and St. Charles. The first house in from St. Charles on the left on Lenox has had its contents piled in the front yard for over a week. This was a bit of an eye-opener - I hadn't seen that before in the 14 years we've been residents.

quote:

that just got listed this week at $675K

People still don't really have the just of this market yet and there are people that are still in a state of 'greed' with their listings. Probably a mix of the owner and the Realtor thinking too grand. My guess is that house by you should be more around $525,000 (at best) considering what else is on the market.

As an example, the house at 617 Forest at $1,459,000 is 4180 sf., so the per sf. cost if bought for asking is right around $349 per sf. That house on Park at $674,000 and 1,370 sf. comes out to $484 per sf. Whomever listed the house on Park was truly daft!

This message has been edited. Last edited by: GlenEllynRing,

Good point GER. Does anyone know what the best bet is for cost per sf in GE? Obviously there is a range. My guess is that $250-$325 would be a safe bet in GE.

I am on the road alot with my job, mostly in the burbs, and I have seen 4 or 5 evictions as noted by GEMom2 in nice communities. Pretty scary.

I will have to check on this as Mr. Scotty has receipts on every thing we rehabbed in this house. I am not certain that it would have any real cost data as we use high-end products. We have been looking for another house to rehab for the past couple of years.

quote:

Originally posted by GEmom2:
On a somewhat related note, after viewing some of the addresses that were in the foreclosure process on a Message Board thread several months ago, the outcome of one seems evident. One of the pending foreclosures is at the intersection of Lenox and St. Charles. The first house in from St. Charles on the left on Lenox has had its contents piled in the front yard for over a week. This was a bit of an eye-opener - I hadn't seen that before in the 14 years we've been residents.

I noticed that, too. I also saw someone that probably didn't live there making their way through the pile of crap that was on the driveway.

Yes - that must be pretty poor quality furniture. I saw an older guy with a large van picking through the pile before it had been long exposed to the elements. It didn't look like he took much, if anything. My guess is whatever business sold them the furniture isn't getting paid either . . . .

I always feel so sorry for people that buy houses that they can't afford due to this no money down mentality. There is a house on Bryant and 53 that has been on the market for years. The current sign says "no money down." Scary!

That house has been for sale every year since I moved here in 1994.

We saw "FOR RENT" signs in the windows of a new construction house on the east side of Main just north of Fairview. I guess some income is better than none.

Edit - Actually, I think the house for rent was on Park, as it seems we saw the gigantic pro-church/anti-Montessori banners several blocks after.

This message has been edited. Last edited by: GEmom2,

quote:

Originally posted by Clamato:
There is a house at the top of my block....about the same details as mine....

Surely you've heard the adage about what flows downhill...

No...but yesterday it was water. Lots of it.

Just some straight numbers from the Multiple Listing Service (these numbers do not include for sale by owner or homes sold directly from a builder)

Active Listings in ALL of Glen Ellyn
339 single family homes (all)
172 condos
48 homes listed over $1,000,000


Active Listings in the District 41 Area
238 single family homes
54 condos


All Glen Ellyn Closed Sales January 1, 2008 to March 4, 2008
42 single family homes - average sale price $557,595
14 Condos - average sale price $211,832



Glen Ellyn Sales from January 1, 2007 to March 4, 2007
47 single family homes - average sale price $418,768
13 Condos - average sale price $260,423

This message has been edited. Last edited by: Maid Marian,

Are your dates correct? Seems illogical

Hey Ron,

I'm not sure what you mean by illogical.

I calculated homes closed YTD for this year and compared it to that same period of time last year. According to the numbers Glen Ellyn home sales are about the same from January to March 4 in both years. (I went back and changed YTD to the actual dates of Jan - Mar in case that was confusing to people.)

The only update is that there is a new home on the market bringing the current GE active listings to 340.

Your edit cleared things up.

Interesting. Thanks for the numbers.

Math isn't my strong point, but I figure the number of house sales are down about 10%, but prices are up 25%. Meanwhile, there are 50% more homes on the market. Is that what you get?

Are you in the business? Do you have any commentary to color these numbers?

Particularly, why is the average house price so much higher this year? Does this reflect, say, more new construction sold this year compared to resales last year? Or is there some reason this year has seen more move-ups and other top-end sales, compared to entry level sales last year? I haven't seen anything to suggest that we should expect anything near a 25% increase in home value over the past year. (Well, the assessor would LOVE to believe it!)

Dinsdale,

I thought those numbers were interesting too. I would not read too much into them yet. They only account for the last two months - and two months do not make the whole year. I would drop dead if we saw a consistent 25% increase. Some parts of the country (FL, CA and AZ) are having double digit dips in home values - very scary.

The numbers below are for the years 2005 – 2007. Prices increase, homes sold decrease and time on the market increases. There is a lot of inventory out there.

Year 2005 - Single Family Homes Sold 471 - Avg Sale Price $497,808 - Avg Market Time 90
Year 2006 - Single Family Homes Sold 417 - Avg Sale Price $500,727 - Avg Market Time 118
Year 2007 - Single Family Homes Sold 354 - Avg Sale Price $520,572 - Avg Market Time 163

This is an interesting, big picture article by Lou Barnes at Inman News about the national housing market and the credit crunch.

(Anyone know how to get a table in here - sorry for the hard to read chart. Maybe I will make a graphic tonight an drop it in.)

163 days average?!
5+ months!
Damn, that would be a long time to have your house on the market!