Illinois Housing Statistics
Illinois Home Sales Set Third Consecutive Record Year in 2004: Fourth Quarter Sales up 5.1 percent; Statewide Median Price at $184,800
Continued strong demand for homeownership drove single-family home sales to an all-time high in 2004, with no sign of a slowdown in the last quarter. Single-family home sales increased 4.7 percent in Illinois in 2004. In 2004, a total of 127,432 single-family homes were sold across the state, compared to 121,712 sales in 2003. IAR’s latest report on single-family home sales showed that 21,600 homes were sold across the state in the fourth quarter, up 5.1 percent from 20,552 sales in the fourth quarter of 2003.
The Illinois median price for a single-family home rose 5.9 percent in 2004 to $183,800, compared to $173,600 in 2003. In the fourth quarter of 2004, the median price was $184,800, up 7.8 percent from $171,400 during the same period in 2003. The average price of a home for the same period increased 6.6 percent to $211,000 in 2004 compared to $197,900 in the fourth quarter of 2003. The average price of a home was $211,600 in 2004, up 5.6 percent from $200,400 in 2003.
In the Chicagoland Primary Metropolitan Statistical Area (PMSA), sales of single-family homes for the year were up 3.8 percent to 80,927 and the median price was up 7.9 percent to $242,000. In 2003 home sales for the region totaled 77,951; the median price was $224,300. In the Chicagoland PMSA, fourth quarter, single-family home sales increased 3.3 percent to 18,810, from 18,201 in the fourth quarter of 2003. The median price of single-family homes sold in the Chicagoland PMSA increased 9.0 percent to $241,800 in the fourth quarter of 2004; it was $221,900 in 2003.
Read the Fourth Quarter Release.
Illinois Home Sales Set a New Record in 2004; December Sales Up 5.5 Percent; Median at $184,000
As anticipated, 2004 marks the strongest year on record for housing in Illinois with December sales of existing, single-family homes ending the year on a high note, up 5.5 percent over December 2003 sales. According to the latest survey from the Illinois Association of REALTORS, statewide a total of 126,946 sales have been reported for the year 2004, up 4.3 percent from 121,712 total sales in 2003. Monthly sales of existing, single-family homes in December were up 5.5 percent to 9,509 homes sold compared to 9,014 homes sold in the same period one year ago.
Wednesday, February 23, 2005
Tuesday, February 22, 2005
THE TRICIA FOX TEAM - MARKETING STRATEGY
Marketing Your Home
Some agents list. We market. In the last three years, we have closed in excess of
$180 million in sales, all in the Gold Coast, Lincoln Park, and River North areas of Chicago. How do we do it? How are we different?
1. STAGING & PRICING
The BIG THREE in real estate are well known:
PRICE, CONDITION, LOCATION
Price: You pick the price, we give you the comps. If it isn’t sold in an agreed on time (say 45 days) we renegotiate price.
Condition: We suggest ideas for helpful showing techniques. You decide how you can live in the home comfortably while we show it effectively.
Location: You are in Lincoln Park. Who wouldn’t want to be there? But, location also means your floor height, view, distance from elevator, noise factors, etc. Be realistic and assess if your location in your building is affecting your pricing strategy!
2. COLOR BROCHURES
We provide color hand-outs within 24 hours. We produce them ourselves so that we can constantly improve and update them.
3. MLS
You will be on the MLS and related sites in one business day.
4. WEBSITES WITH VIRTUAL TOURS AND PICTURES
Realtor.com, Triciafoxteam.com, KW.com
Our busiest site is Realtor.com and our team has bought placement here! If you click on this site, you will go directly to one of our showcase listings and then can access all of our listings! The other sites have good usage also. We refer people directly so they can share the home they’re thinking of buying. Great for helping people decide on their new home!
5. OPEN HOUSE PROGRAM
As allowed by condo boards, we provide consistent exposure.
6. E-MAIL, FAX AND VOICE BROADCAST
We are able to stay in touch with prospects and reach prospective prospects efficiently. This allows us to update people interested in your property.
TRACK SHOWING/COLLECT FEEDBACKS/SELLER UPDATES
We will track interest and provide you with feedback weekly.
8. TARGET MARKETING- Direct Mail, Flyers
We believe in direct mail marketing. Your property will be featured until it is sold. Sample pieces are provided for you.
9. BROKER OPEN INVITATIONS
Tuesdays, we will host an open house for brokers to view your property.
10. BEST SALES AGENTS IN CHICAGO!
We know the structured sales call. We know when to listen! We know a feature and a benefit. We go for the close, early and often. We perform with enthusiasm, humor, credibility, from pre-learned knowledge of the market and market conditions.
11. AVAILABILITY FOR SHOWINGS
This is critical as many last minute showings are qualified, quick buyers. Your commitment is to have the home available and ours is to show it. We say “YES!” to every showing request and work out the details later. Agents love working with us! You would be surprised how many agents are difficult in matching up schedules for showings. Our team approach is right on target!
Thank you. We appreciate the opportunity to sell your home.
Sincerely,
Tricia Fox
The Tricia Fox Team
P.S. We LOVE REFERRALS!! Thank you in advance.
_________________________________
$180+ million in sales in the last three years!
SUCCESS INTEGRITY ENTHUSIASM
Comparative Marketing Analysis:
Property Address: 21 E. Huron
Listing/Sale History up-to-date for ‘04 Units up to the 15th floor:
Unit # List Price Sale Price Off Market MT Beds Baths
Pending
1204 $892,500 N/A 10/28/03 492 2 2.1
Cancelled
804 $872,500 N/A 04/22/04 858 2 2.1
904 $877,500 N/A 04/22/04 677 2 2.1
1104 $887,500 N/A 04/22/04 853 2 2.1
Active: N/A
Closed: N/A
These prices do not include parking so add $45,000.
Suggested List Price*: $950,000 with parking
*We may only suggest a price, but you set the listing price!
Some agents list. We market. In the last three years, we have closed in excess of
$180 million in sales, all in the Gold Coast, Lincoln Park, and River North areas of Chicago. How do we do it? How are we different?
1. STAGING & PRICING
The BIG THREE in real estate are well known:
PRICE, CONDITION, LOCATION
Price: You pick the price, we give you the comps. If it isn’t sold in an agreed on time (say 45 days) we renegotiate price.
Condition: We suggest ideas for helpful showing techniques. You decide how you can live in the home comfortably while we show it effectively.
Location: You are in Lincoln Park. Who wouldn’t want to be there? But, location also means your floor height, view, distance from elevator, noise factors, etc. Be realistic and assess if your location in your building is affecting your pricing strategy!
2. COLOR BROCHURES
We provide color hand-outs within 24 hours. We produce them ourselves so that we can constantly improve and update them.
3. MLS
You will be on the MLS and related sites in one business day.
4. WEBSITES WITH VIRTUAL TOURS AND PICTURES
Realtor.com, Triciafoxteam.com, KW.com
Our busiest site is Realtor.com and our team has bought placement here! If you click on this site, you will go directly to one of our showcase listings and then can access all of our listings! The other sites have good usage also. We refer people directly so they can share the home they’re thinking of buying. Great for helping people decide on their new home!
5. OPEN HOUSE PROGRAM
As allowed by condo boards, we provide consistent exposure.
6. E-MAIL, FAX AND VOICE BROADCAST
We are able to stay in touch with prospects and reach prospective prospects efficiently. This allows us to update people interested in your property.
TRACK SHOWING/COLLECT FEEDBACKS/SELLER UPDATES
We will track interest and provide you with feedback weekly.
8. TARGET MARKETING- Direct Mail, Flyers
We believe in direct mail marketing. Your property will be featured until it is sold. Sample pieces are provided for you.
9. BROKER OPEN INVITATIONS
Tuesdays, we will host an open house for brokers to view your property.
10. BEST SALES AGENTS IN CHICAGO!
We know the structured sales call. We know when to listen! We know a feature and a benefit. We go for the close, early and often. We perform with enthusiasm, humor, credibility, from pre-learned knowledge of the market and market conditions.
11. AVAILABILITY FOR SHOWINGS
This is critical as many last minute showings are qualified, quick buyers. Your commitment is to have the home available and ours is to show it. We say “YES!” to every showing request and work out the details later. Agents love working with us! You would be surprised how many agents are difficult in matching up schedules for showings. Our team approach is right on target!
Thank you. We appreciate the opportunity to sell your home.
Sincerely,
Tricia Fox
The Tricia Fox Team
P.S. We LOVE REFERRALS!! Thank you in advance.
_________________________________
$180+ million in sales in the last three years!
SUCCESS INTEGRITY ENTHUSIASM
Property Address: 21 E. Huron
Listing/Sale History up-to-date for ‘04 Units up to the 15th floor:
Unit # List Price Sale Price Off Market MT Beds Baths
Pending
1204 $892,500 N/A 10/28/03 492 2 2.1
Cancelled
804 $872,500 N/A 04/22/04 858 2 2.1
904 $877,500 N/A 04/22/04 677 2 2.1
1104 $887,500 N/A 04/22/04 853 2 2.1
Active: N/A
Closed: N/A
These prices do not include parking so add $45,000.
Suggested List Price*: $950,000 with parking
*We may only suggest a price, but you set the listing price!
Wednesday, February 2, 2005
Ask Tricia!
What are the differences between a condominium, a townhouse and a co-op?
A townhouse is a style of construction, whereas condominium and co-op are types of ownership. A townhouse is basically a building or unit that shares a common wall with the building or unit next door. The walls are usually straight and entry is usually from the ground floor. Townhouses usually have two or more stories. A townhouse can be a style of condominium. A condo is where you own the actual structure of the building jointly with the other members of the association, along with common areas such as swimming pools, tennis courts or other common areas. Individually, you own the airspace and interior of the structure, but not the building itself. You and the other members of the association own the structure together. A co-op is where you own shares of a corporation or organization that owns the larger structure, and ownership of those shares gives you the right to occupy a specific unit or apartment.
What are the differences between a condominium, a townhouse and a co-op?
A townhouse is a style of construction, whereas condominium and co-op are types of ownership. A townhouse is basically a building or unit that shares a common wall with the building or unit next door. The walls are usually straight and entry is usually from the ground floor. Townhouses usually have two or more stories. A townhouse can be a style of condominium. A condo is where you own the actual structure of the building jointly with the other members of the association, along with common areas such as swimming pools, tennis courts or other common areas. Individually, you own the airspace and interior of the structure, but not the building itself. You and the other members of the association own the structure together. A co-op is where you own shares of a corporation or organization that owns the larger structure, and ownership of those shares gives you the right to occupy a specific unit or apartment.
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