Good morning everyone. What a beautiful spring day! I hope everyone has a wonderful weekend planned. Don’t forget to move your clocks forward on Saturday night before you go to bed.
I have tabulated the results for sales in February for several Metro East towns/cities such as Columbia, IL, Waterloo, IL, Dupo, IL etc.
I have also made a chart with the number of homes for sale in those same towns/cities and I have separated them by price range. You will see the results below.
You can compare these charts to see what the “absorption rate” for a particular price range in a specific town. The “absorption rate” can give you an insight either as a seller or buyer as to what your leverage might be when negotiating an offer.
For example, if you are a seller in Dupo, IL in the price range of $150,000 to $200,000 you will notice there are currently 7 homes on the market. In February you will notice 0 homes sold. Therefore, if you want to sell next month, you may want to consider adjusting your price.
Another example, if you are a buyer in Columbia, IL in the $250,000 to $300,000 price range you will notice there was 1 sale last month and there are currently 11 homes on the market. That means there is an 11 month supply of homes on the market in that price range. As a buyer, that would lead me to the conclusion that I could probably get a great value on a home in that price range since there is so much competition.
I hope you find this information helpful! Have a great day!
Tammy
| Listed As of March 1 | $100,000 & Under | $100,000 -$150,000 | $150,000- $200,000 | $200,000 – $250,000 | $250,000 – $300,000 | $300,000 & Above | Total |
| Belleville | 191 | 161 | 70 | 38 | 14 | 32 | 506 |
| Cahokia | 108 | 4 | 0 | 0 | 0 | 0 | 112 |
| Columbia | 3 | 14 | 27 | 18 | 11 | 18 | 91 |
| Dupo | 16 | 15 | 7 | 1 | 1 | 0 | 40 |
| Freeburg | 0 | 3 | 9 | 5 | 3 | 4 | 24 |
| Millstadt | 0 | 2 | 10 | 5 | 3 | 6 | 26 |
| New Baden | 9 | 3 | 3 | 7 | 2 | 1 | 25 |
| O’Fallon | 23 | 24 | 72 | 33 | 39 | 43 | 234 |
| Red Bud | 6 | 3 | 8 | 4 | 2 | 3 | 26 |
| Shiloh | 2 | 7 | 20 | 11 | 14 | 7 | 61 |
| Smithton | 2 | 7 | 8 | 8 | 4 | 12 | 41 |
| Swansea | 17 | 13 | 18 | 10 | 3 | 16 | 77 |
| Valmeyer | 1 | 4 | 10 | 4 | 1 | 0 | 20 |
| Waterloo | 6 | 17 | 24 | 23 | 19 | 23 | 112 |
| Total | 384 | 277 | 286 | 167 | 116 | 165 | 1395 |
| Sold in February | $100,000 & Under | $100,000 -$150,000 | $150,000- $200,000 | $200,000 – $250,000 | $250,000 – $300,000 | $300,000 & Above | Total |
| Belleville | 21 | 12 | 4 | 2 | 1 | 0 | 40 |
| Cahokia | 8 | 1 | 0 | 0 | 0 | 0 | 9 |
| Columbia | 0 | 1 | 2 | 2 | 1 | 0 | 6 |
| Dupo | 2 | 1 | 0 | 0 | 0 | 0 | 3 |
| Freeburg | 1 | 0 | 2 | 0 | 0 | 0 | 3 |
| Millstadt | 0 | 2 | 2 | 0 | 0 | 0 | 4 |
| New Baden | 0 | 2 | 1 | 0 | 0 | 0 | 3 |
| O’Fallon | 1 | 4 | 4 | 3 | 3 | 2 | 17 |
| Red Bud | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Shiloh | 0 | 1 | 0 | 2 | 4 | 0 | 7 |
| Smithton | 0 | 1 | 0 | 0 | 0 | 0 | 1 |
| Swansea | 2 | 1 | 4 | 2 | 0 | 1 | 10 |
| Valmeyer | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Waterloo | 1 | 3 | 5 | 4 | 0 | 0 | 13 |
| Total | 36 | 29 | 24 | 15 | 9 | 3 | 116 |
