Metro East IL Market Report - 2019

Metro East IL Market Report – 2019

by Dana Ficker

2019 Metro East IL Real Estate Market Report

Enjoy the real estate market report for the St. Louis Metro East IL area. Browse previous years’ home prices to current home values by property type, zip code, and more.

Edwardsville
Glen Carbon
Granite City
Collinsville
Maryville

2019 Home Values by Neighborhoods

Showing the median sale price over the previous 5 years and a comparison to 2019 for New Construction, Residential, and Condo/Coop/Villa properties.

Chart of Sale Price to Original List Price 2019

Area Market Stats for 2019

Homes in the Metro East IL area are selling very close to the price they were initially listed for. Most areas see a 97-98% sale to the original list price. Homes not priced right may be reflected in the number of expired listings rather than sales.

Although Granite City had the higher number of 500 in sales for 2019, it also had the highest number in expired listings at 153. Edwardsville comes in 2nd regarding expired listings but ties with Glen Carbon in the median top sale price range of $230,000.

These sellers of the expired listings may have relisted with the same agent, another agent, or postponed selling altogether. It is possible the seller decided to lease the property for rental income rather than selling.

Single Family Residential Numbers for 2019

Is it a Good Time to Sell Your House in the Metro East area?

It’s always a good time to sell in the Metro East IL area when you consider months, yet times, when inventory is lower, which can entice more buyers.

Is the Metro East Real Estate Market Going to Crash in 2020?

Some real estate experts are predicting a potential housing market crash in 2020 due to politics and the potential of rising rates. NAR (National Association of Realtors) predicts the housing market in the Midwest will continue to be attractive. Mortgage loan interest rates are expected to stay below 4%.

Millennials, the largest generation in history, are predicted to take their top spot in mortgage origination while initiating more than 50% of all new mortgages. But, Realtor.com predicts a challenging year for buyers, not because of what they can afford, but rather what they can find.

Sellers with upper-end home prices will likely sit on the market longer and may require additional incentives to attract buyers.

With that said, the end of 2019 saw stable home values and increasing home sales which is always a positive sign in the real estate market.

Are Home Values in the Metro East Increasing?

This Metro East market update indicates that home values are rising for 4 out of the 5 areas researched. The median home price for a residential home from 2018 – 2019 shows increases ranging 3% to 11% depending on the zip code.

The small community of Maryville showed a loss of 1.5% during this last year. This loss of value may have been attributed to its low inventory and/or the seller’s urgency.

Is it a Buyers or Sellers Market in the Metro East area?

At the end of 2019, Dana Ficker REALTOR reported that Granite City had 3.8 months of inventory, while Maryville had the least at 2.2 in the real estate market, which would be called a seller’s market. The entire year was at a 2 to 3-month inventory pace. We consider 6 months of inventory a balanced market.

High housing demands and low inventory usually causes bidding wars and higher price. Prices drop when there is low demand and a large supply of homes on the market.

Months of Housing Supply over the past 3 years

Who Can I Call to Sell or Buy My House in the Metro East IL area?

Call Dana Ficker at 618-792-9484 to buy or sell a house.

Illinois Licensee:

Dana Ficker

Coldwell Banker Brown Realtors

2205 S. State Route 157

Edwardsville, IL 62025

618-792-9484

Metro East IL Market Report – 2019

2019 Home Values by Neighborhoods

EDWARDSVILLE 5 YR CHART

GLEN CARBON 5 YR CHART

GRANITE CITY 5 YR CHART

COLLINSVILLE 5 YR CHART

MARYVILLE 5 YR CHART