In preparing a Comparative Market Analysis for an Orland Park home for sale, I wanted to see how Orland Park is faring in today's declining market. The easiest way to check this out is to collect the data created for us by our local real estate board.
The data shows us the following, which is based on what has happened during the first half of 2009 vs. 2008:
Amount of homes sold: 2008 = 124 2009 = 118 - showing a decrease of 4.8% of total sales of single family homes
Median Sale Price: 2008 = $325,000 2009 = $294,500 - showing a decrease of 9.4% in the median price
How does this affect sellers?
I'm reading more and more about properties not appraising. There are different reasons for this, some are as…