Trending Home Prices in Wayne IL for March 2017

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What have home prices been doing in Wayne this year?

Median home prices in Wayne IL are about where they were at the beginning of 2016.  We’re currently seeing a median list price of $585,000.  The chart below is a good comparison of median list prices vs. median sales prices in Wayne IL for the last 12 months.  As you can see, home buyers and sellers were fairly aligned.

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Are home prices in Wayne IL going up or down?

Home prices in Wayne dipped 4.2% in March over February.  The median sales price right now is $470,000.  Comparing this year-over-year and we see a 2.2% increase.  Wayne homes are on the rebound and this trend is only expected to continue.

Is Wayne in a buyers or sellers market right now?

Inventory of homes for sale in Wayne is very high at 24.4 months.  Anything between 3-6 months could be considered a stable market.  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 Wayne right now?

A lot of Wayne 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 Wayne.  In March, 93% of homes for sale were traditional sales.  There was 1 foreclosure on the market.  Short sales are on the decline again with only 3.  Home prices in Wayne IL are not being affected by these factors.

How long is it taking to sell a home in Wayne right now?

The median market time for a home in Wayne is at 151 days.  This is up since the summer months when the market was hotter, no pun intended.

Want a rough idea of your home’s current value?

Fill out the form below to view an online analysis of your Wayne IL home price.  While not as accurate as meeting with us in person, it can help you determine if selling your Wayne 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 Wayne Listing Specialist, Matt Kombrink, today to arrange for a complimentary home pricing analysis of your home.  Matt can be reached at 630-488-3300.