Mattoon Market Information

Whether buying or selling, one characteristic to consider when choosing an agent is their knowledge of the market.  We believe it is critical for our clients to have current, relevant information.  According to the National Association of Realtors “2016 Profile of Home Buyers and Sellers”, 92% of buyer respondents rated an agent’s knowledge of the real estate market as “Very Important.” 

Real estate is local, not only to a community, but also to different price ranges.  While one price point may be performing very well, there may be others that are not.  Therefore, we track not only the overall market information for Mattoon and Charleston, but we break each community into 13 different price ranges.  Click here If you would like to receive our monthly report.  Otherwise, check back monthly for some highlights that we observed in the market.       

Mattoon

  • Prices-  The YTD average sale price increased 5.6% from June to $104,212, while the median was unchanged at $80,000.  Based on the 5-year averages for each category, 2019 is outperforming the average sale price by 5.9% and 1.2% for the median sale price.  
  • Closed Units- Finishing well above the 20-year average of 23.2 and median of 25 closed units for the month, Mattoon had 33 units close in July.  This placed 2019, tied only with 2016, as having the most productive July in the past 20 years. The banner month helped Mattoon shrink the difference in YTD closings (133)  in comparison to the 5, 10, and 20-years averages of 142.4, 133.2, and 138.6.     
  • Inventory- Though not as sharp as Charleston’s, Mattoon also had an increase in active units MOM.  Up 11 units from July, Mattoon had 109 properties on the market August 1st. This marked the first time since October 2018 that Mattoon had 100+ active properties on the market to start a month.   However, like Charleston, even with the increase, August was still well below its 7-year average of 118.9 and a median of 118 active units for the month. 
  • Pendings- Up by 3 units from July, there were 39 properties under contract on August 1st.  Not only was August the fifth month in a row Mattoon had MOM gains in the number of pending units, but it also marked the highest number of pendings for any month since this report began tracking pendings in October of 2016.  And with pending units being the best indicator for closings over the next 30-60 days, it stands to reason that closings will remain strong over the next few months.
  • Active / Pending- Slipping 0.5% from July, pending units comprised 26.4% of the total market.  August marked only the second time in 35 months that Mattoon had back to back months in which 25% or more of the total market were pending units.  
Mattoon Market Information
Mattoon Market Information
Mattoon Market Information
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