What have home prices been doing in Wheaton this year?
Median home prices in Wheaton IL have risen over the last couple of months. We’re currently seeing a median list price of $394,500. The chart below is a good comparison of median list prices vs. median sales prices in Wheaton IL over the last 12 months. As you can see, home buyers and sellers have been fairly aligned all year.
Are home prices in Wheaton IL going up or down?
Home prices in Wheaton rose 9.9% in May over April. The median sales price right now is $306,000. The great news is that comparing this year-over-year we see a 5.5% increase! Wheaton homes are definitely appreciating and this trend is only expected to continue.
Is Wheaton 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 Wheaton is low at 3.3 months. Anything between 3-6 months could be considered a stable market so we’re right at the low 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 Wheaton right now?
A lot of Wheaton 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 Wheaton. In May, 94% of homes for sale were traditional sales. There were 6 foreclosures on the market, this number has been dropping quickly. Short sales are on the decline as well with 10. Home prices in Wheaton IL are not being affected by these factors.
How long is it taking to sell a home in Wheaton right now?
The median market time for a home in Wheaton is at 38 days. This has been dropping since November of last year.
Want a rough idea of your home’s current value?
Fill out the form below to view an online analysis of your Wheaton IL home price. While not as accurate as meeting with us in person, it can help you determine if selling your Wheaton 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 Wheaton Listing Specialist, Matt Kombrink, today to arrange for a complimentary home pricing analysis of your home. Matt can be reached at 630-488-3300.