March 2013 Market Report for Single Family Home Closings

In the month of March, a total of 69 single family homes sold ranging in price from $70,000 through $720,000.  The average sales price of a single family home in Plainfield this month was $247,560.

Average market time for the homes that closed this month were about 107 days. 

59% of the total home sales were homes that sold closed at $200,000 or higher, and sellers got about 96% of their final asking price through negotiation.  Meaning that if their house was priced at $225,000 that the final negotiated price was about $216,000 on average.

Now, for the foreclosure and short sale info.  We've all been watching these numbers closely to see how these statistics and numbers affect the home values in the area.  In the month of March 41% of all closed transactions were distressed sales.  25% of these sales were bank owned foreclosures, while 16% were preforeclosure short sales. 

The spring market is in full gear with buyers looking for new inventory.  Most buyers are tired of waiting for the banks to respond to their short sale offers and looking for a straight forward sales.  If you've been waiting for a better time to sell your home, we might be inching closer to that market.  Straight forward sales priced right have been going under contract very quickly. 

What would you like to know about the real estate market in Plainfield?  Check out all of my past posts about Plainfield at www.LivingInPlainfield.com. 

I am a Realtor with Real People Realty, Inc and I have been a Realtor since 2007.  I specialize in short sales and single family real estate in Plainfield. 

Have questions about a specific neighborhood?  Leave a comment and I'll be happy to reply or write about it my next post.