Homer Glen Homes Sales Statistics for 2014

Posted by Judy Orr on Friday, April 3rd, 2015 at 12:51pm.

We prefer to get you the year-end stats some time in January or February, but because we've been working on this new site we're running behind.  Year-end stats are available to us from Mainstreet Organization of REALTORS some time in January.  The following statistics are for single family Homer Glen homes.

Amount of Of Homer Glen homes sold:  

  • there was a 4.1% decrease in the total amount of Homer Glen homes sold in 2014 compared to 2013
  • 2013 - 217 Homer Glen homes sold
  • 2014 -  a decrease to 209 sold

Homer Glen home prices:

  • prices went up .7% comparing 2013 to 2014
  • 2013 - the average price for a single family Homer Glen home was $301,367
  • 2014 - the average price jumped to $303,312

The table below shows Homer Glen homes sold in 2014 broken down by price:

Homer Glen homes sold 2014

Average days on market=133
The minimum sale price was $120,777
The maxiumum sale price was $712,500
Total sales volume of Homer Glen homes sold in 2015 was $63,392,250

Following is a table showing the breakdown of Homer Glen homes sold in 2014 using bedroom counts:

Bedrooms# Sold Avg OLP Avg LP Avg SP SP:LP SP:OLP Avg MT 
 All 209  $332,218  $316,033  $303,312  96%  91%  133
 2  2  $258,450  $258,450  $247,500  96%  96%  37
 3  79  $299,510  $289,116  $275,916  95%  92%  105
 4  102  $339,328  $317,402  $306,723  97%  90%  150
 5+  26  $409,384  $396,880  $377,467  95%  92%  159

Meanings of above abbreviations:

Avg OLP - Average original list price (if priced correctly from the start some sellers are able to get an offer at, near or more than their original list price).
Avg LP - Average list price (meaning price listed at time of contract acceptance - the average of all home's list prices at the time they received their accepted offers).
Avg SP - Average sale price - what the home actually sold and closed for.
SP:LP - the difference between the actual sale price vs. the list price at the time (some sellers had reductions, a few might not have).
SP:OLP - the difference between the actual sales price and the original list price - takes into consideration all listings and what they started at
Avg MT - Average market time - how many days it took to sell.

One thing I don't like is that there is a discrepancy between the first set of data I provided, which comes from our MLS, and the table above regarding total homes sold (a difference of one) and average sale price.  It is close enough to get a good idea of the market for Orland Park real estate in 2014, but I'm not sure why there should be any difference, especially since I got both of these on our MLS.  They might have a different source for each set of data.

In Summary

The above charts show two different statistics - one for Homer Glen homes sold in specific price ranges and another broken down by number of bedrooms.

Price Data

It's always fun for me to see the different price ranges, the amount of homes sold in them and and to see if any of this correlates with days on market.  Sometimes it's easy to figure that the prices on the lower end will sell faster than higher priced homes, but the stats above don't jive.  My opinion is that the 3 of the lowest priced homes in Homer Glen were in worse condition than higher priced homes.  Many low priced properties in bad shape require cash buyers or rehab loans, which means a lower pool of potential buyers.

Another interesting figure is the low market time in the price range of $550,000-$599,900.  Three homes sold with the lowest average market time on the chart of only 45 days.  I have no way of explaining this data.

Bedroom Data

Two bedroom homes don't usually sell very quickly, but it looks like a couple buyers enjoyed the lower price range afforded by the two homes sold with the lowest market time of 37 days.  All of the other categories of bedroom counts are similar enough to not show anything significant.

Data always changes.  Some sales are what we consider flukes, and they will change annual ratios of prices and days on market.

Contact us if you're thinking of buying and/or selling in Homer Glen - give us a call at 708-536-8200
The Judy Orr Team - Your Homer Glen REALTORS®

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