Berwyn IL Real Estate Market Report, week of December 15, 2014

Berwyn IL Real Estate Market Report, week of December 15, 2014

10 homes sold in Berwyn IL

There were 9 single family homes and 1 multi-family property sold this past week in Berwyn IL. The average sales price for the single family homes sold this week was $159,220. The average time on the market was 89 days.

Because these statistics are only for one week and for all of Berwyn, it may not tell you what is possible for a specific home. These are just the general market statistics of what happened in the last week in Berwyn IL real estate.

Own a home in Berwyn IL? Find out what it’s worth here! (More info on selling a “dated” home.)

Least expensive home reported sold in Berwyn IL

The least expensive home reported sold this past week in Berwyn was a 4 bedroom, 2 bath brick bungalow home in the 2700 block of Clinton Ave. It sold for $115,000 as a foreclosure in 18 days on the market for $10,000 more than asking price.

It was sold as-is, and the interior pictures show that the home is in need of updates, particularly in the attic and the basement. These cash buyers seem to have gotten a great deal for much less than the average selling price for the neighborhood!

Most expensive home reported sold in Berwyn IL

The most expensive home reported sold this past week in Berwyn was a 5 bedroom, 3 bath brick bungalow on the 2700 block of Lombard Ave. This professionally rehabbed home was upgraded throughout. It sold for $233,000, just over asking price, and the sellers contributed $4,600 toward buyer closing costs, in 176 days on the market with an original asking price of $249,900. Had the sellers started off asking slightly less for the home, I’m guessing it would have been snatched up very quickly. Instead they priced it high and slowly dropped the price til they got a bite.

Sold Deal Of The Week in Berwyn IL

In my opinion, the best deal of the homes sold this past week in Berwyn was a 2-flat in the 3000 block of Clarence Ave, close to Metra and the Depot District. It had a 2BR unit and a 3BR unit, natural woodwork and built-ins, and unfinished attic & basement. It sold for full price, $209,900, after 89 days on the market. See available Berwyn 2-flats and multi-family properties here!

Foreclosures & Short Sales in Berwyn IL

3 of the homes sold this past week in Oak Park were foreclosures, and none were short sales.

Today there are 23 foreclosed homes for sale in Berwyn IL and 22 homes listed as a short sale in Berwyn IL.

Inventory & Absorption Rate in Berwyn IL

Today there are 144 single family homes for sale in Berwyn IL. If homes in Berwyn continue to sell at the same pace and no more homes hit the market, it will take 4 months to sell all the available homes. This statistic is for all homes in Berwyn and based only on this month’s activity. Most people consider a housing market healthy if there is a less than 6 months’ supply of inventory, so we’re in what is considered a Seller’s Market.

New Listings in Berwyn IL

There were 18 new properties (1 vacant lot, 13 single family homes, and 4 multi-family properties) to hit the MLS this week in Berwyn IL. See all listings here!

This Week’s Hot New Listing in Berwyn IL

The best deal in my opinion of this week’s new listings in Berwyn is a completely renovated 4BR, 2BA home in the 1200 block of Wenonah Ave. It sits on a double lot 54x126 and has a new dark cabinet kitchen, gorgeous baths, 3 bedrooms on the top floor with 4th bedroom / office on the main living floor, finished basement. And the best part... It’s priced at only $269,000! See all pics & details here!

Looking Forward...

1 condo, 2 multi-family, and 12 single family homes were reported as going Under Contract (contingent/pending) this past week in Berwyn IL... Not too bad for the holiday season! Currently there are 15 condos, 28 multi-family properties, and 103 single family homes in total that are Under Contract in Berwyn.

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The Fine Print: This report covers what happened for the week ending December 15, 2014 based on info from the MRED LLC multiple listing service (MLS). As always, there may have been more closings that may not have been reported to MRED as of today’s posting as well as other closings that took place outside of the MLS. All data has been compiled from the MRED MLS by Laurie Christofano, Realtor with The Pych Team @ RE/MAX In The Village.