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

  • Closed Units- Following a mediocre January for closings, February rebounded with 19 closed units bringing the total for 2019 to 31.  This is a 14.8% increase YOY and 27% over the 10-year average for the first months. Not since 2008 has there been more closings YTD than this year. 
  • Inventory- As of March 1st, inventory slipped to 88 active units.  This marks the 8th month in a row of inventory levels being below their 5-year average.  While March 1st inventory saw a 2.3% increase YOY, it is 10.2% under the 5-year average.   
  • Pending- Units dropped by two units to 16 properties currently under contract.  This marks the fewest units under contract for a month since we began tracking this category in October of 2016.  
  • Absorption Rates- With the exception of the 3-month trend for absorption rates, which is only five 5.2 months of supply, every other category indicates less than 4.5 months.  Projections for the next six months, based on the average number of sales over the past 20 years and current inventory levels, indicate a mere 3.8 months of supply.  The common industry standard is that a six month supply is a neutral market, less than six is a sellers' market and the further from six it is, the more it favors sellers.          
Mattoon Market Information
Mattoon Market Information
Mattoon Market Information
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