The average sale price for a home in Broadview, IL in March ’16 is 142,000, up 18% from last year. The average time a home stays on the market was 73 days, or less than 3 months. This is 29 days faster than in the summer market last year, where homes took an average of 95 days to sell in Aug ’15. This indicates that we are dealing with a seller’s market, as homes are moving pretty fast in this neighborhood.
The number of homes up for a traditional sale in Broadview (not a foreclosure or a short sale) was 16. Most of the homes were either 2 bedroom or 3 bedroom homes. The average sales price of a 2 bedroom home in Broadview was $116,500, which is actually lower than last year’s average of around 125,000. The average sale price for a 3 bedroom home in Feb was 158,000, which was a 27% increase in price from last year. This data suggests that buyers are looking for bigger homes with more space, increasing demand for these homes and in the overall neighborhood.
Any questions about buying or selling a home in Broadview, IL? Feel free to contact me!