Boone County and Belvidere January 2012 Stats Reports from 10K
Rachel Vinciguerra
Association Executive
Belvidere Board of REALTORS
215 N. State St.
Belvidere, IL 61008
815-544-2719 fax 815-531-1076
bbor1@frontier.comHere are the Stats for January '12 for Belvidere
Belvidere
For once, the headlines are getting it right: "Supply-side correction continues," "Home buyer demand strengthening," "Market heads toward balance." There is a very real sense that the landscape is shifting. We don't want to overstate the case this month, as this coming spring will be the bellwether. It's been plus or minus five long years since the peak of the housing bubble and the ensuing aftermath. As we delve into a new year, let's see if the first month of the sixth year brought any encouraging signs.
New Listings in the Belvidere region decreased 38.3 percent to 37. Listings Under Contract were up 117.6 percent to 37. Inventory levels shrank 12.2 percent to 273 units.
Prices softened somewhat. The Median Sales Price decreased 37.5 percent to $75,000. Market Times were up 14.3 percent to 228 days. Absorption rates improved as Months Supply of Inventory was down 33.1 percent to 10.2 months.
No one likes feeling stuck. The fate of housing and the economy remain tied together in a single garment of destiny. As long as housing remains weak, many Americans are unable to relocate when an employment opportunity arises. Instead, they're anchored to a house that's underwater. Several key efforts aimed at easing refinancing, converting vacant properties to rentals and getting some private equity in the game are all reasons to stay alert and informed.
