I collected all the data about Morton Grove, IL from MLS and made this easy to understand chart so we can see the real estate market trends for the past five years.
As we can see below, there were 198 properties sold in 2009 in Morton Grove, IL with an average market time of 168 days. Average sold price was $274,865. Before the bubble bursted, the home value was 30% higher in 2006 comparing with today's average home value in Morton Grove, IL. There were 198 homes sold in 2009 compared with 177 in 2008.
Few Stats from National Association of REALTORS®, 2009
Selling a home is a full-time job. And most of today's buyers are online (nearly 9 of 10 recent buyers used the Internet in their home search), and unrepresented sellers have no access to major online marketing avenues such as REALTOR.com and other sites with large pools of listings to which buyers are attracted.
Check here for my regular posts on the local real estate market conditions and other local community events.
If you are thinking of selling or buying, feel free to contact me for any Real Estate questions regarding Morton Grove, IL and other neighboring areas.
Very interesting stats...although the "price numbers" change in my area, the pattern you point out is mirrored here, too.
Haris, your stats presentations just keep getting more professional looking every month. Great job.
Just stopped by to invite you to the ActiveRain Super Bowl Party. Stop by if you get a chance. Geaux Saints!