What have home prices been doing in Bartlett this year?
Median home prices in Bartlett IL remained stable through 2016. We’re currently seeing a median list price of $269,999. The chart below is a good comparison of median list prices vs. median sales prices in Bartlett IL during the last year. As you can see buyers and sellers are becoming more aligned. This bodes well for home sellers as it shows there are in fact buyers looking in the average price range.
Are home prices in Bartlett IL going up or down?
Home prices in Bartlett are for sure appreciating! The median sales price was up 11.6% in January compared to December. The median sales price right now is at $250,000. The great news is that comparing this year-over-year and we also see an increase of 5.3%! Homes in Bartlett are a great investment right now and are expected to remain so.
Is Bartlett in a buyers or sellers market right now?
If you’ve been on the fence about selling your home, now is a great time! Inventory of homes for sale in Bartlett is at it’s lowest point in years. There are only 3.1 months of housing inventory. Anything between 3-6 months could be considered a stable market so we’re right at the bottom end of that. Inventory below 3 months puts us in a sellers market where prices can rise and market times fall. Over 6 months and a buyers market takes over resulting in lower prices and longer market times.
What types of homes are for sale in Bartlett right now?
A lot of Bartlett homeowners may be concerned about foreclosures and short sales dragging down the market. Actually, we’ve seen the numbers of bank-owned and distressed properties fall in Bartlett. In January, almost 82% of homes for sale were traditional sales. There were only 12 foreclosures on the market, the lowest number since June of 2008. Short sales are on the decline as well hitting the 2nd lowest point this year. Home prices in Bartlett IL are not being affected by these factors.
How long is it taking to sell a home in Bartlett right now?
The median market time for a home in Bartlett is at 37 days. This is down from the summer months and a huge drop compared to January 2016 when the market time was 50 days. This indicates a strong buyer pool coupled with limited supply.
Want a rough idea of your home’s current value?
Fill out the form below to view an online analysis of your Bartlett IL home price. While not as accurate as meeting with us in person, it can help you determine if selling your Bartlett home makes sense right now.
Looking for something more accurate?
The Kombrink Lobrillo Team at RE/MAX All Pro takes a very analytical approach to pricing your home. Using a process similar to that of an actual home appraiser, our in-depth analysis produces a pricing strategy to get your home sold for top dollar in the least amount of time. Combine that with our top notch marketing strategy and we’ll help you realize your real estate goals before you know it.
Contact our Bartlett Listing Specialist, Matt Kombrink, today to arrange for a complimentary home pricing analysis of your home. Matt can be reached at 630-488-3300.