SINGLE FAMILY SALES ANALYSIS

In 2012, the median selling price in Beverly was $233,750.
In 2011, the median selling price in Beverly was $225,000.
So, Beverly home values appreciated by 3.89% in 2012.
The number of homes that were sold also increased by 7.59% in 2012.

In 2011, 158 homes were sold in Beverly Chicago.
This number increased to 170 homes in 2012.
So, things are definitely headed in the right direction.

The average home in Beverly Chicago took about 5 months to sell. The rate of sales in Beverly is about 14 homes per month.
As of Jan 8, 2013 there are 90 homes available for sale.
So, there is about 6.5 months of inventory on the market in Beverly.

A 6 month supply signals a healthy and balanced market.
To put this in perspective, in 2009, many Chicago areas had
over 18 months of inventory.

DISTRESSED SALES

Distressed sales accounted for nearly 25% of Beverly’s real estate transactions in 2012.

Here is the breakdown by sales type:

Court Approval 2%
Foreclosure 16%
Short Sale 6%
Traditional 76%

AVERAGE PRICE PER SQUARE FOOT

The average price per square foot was $137.50 in 2012.
So if you were thinking about putting a 2,000 square foot home on the market in Beverly,
its estimated selling price would be about $275,000.

If you have any questions regarding the Beverly Chicago
Real Estate market, please send an e-mail to mark@markkillion.com

Beverly Homeowners: I am offering a free property analysis!

Until the next time,

Mark Killion
Real Estate Broker
Century 21 Affiliated
5200 S. Harper Ave
Chicago, IL 60615
24 Hour Voice Mail: 312-242-1822
Send me a note!

Visit me online: www.773property.com