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.       

  • November added 24 more closed units, increasing the YTD total to 238.  While a sharp decline when compared to 2016, YTD sales are 4.8% over the 5-year average and 11% ahead of the 10-year average. 
  • Falling 13.3% to 98 active units, the December 1st inventory is the fewest active properties in past 23 months.  
  • Due to low inventory levels and an above average number of sales over the last twelve months, the overall market absorption rates indicate less than six months of supply of inventory and thus a seller’s market.
  • If Mattoon can finish the year maintaining the current YTD median sale price of $78,750, it will tie 2011 and 2016 with the highest median sale price in the past 18 years.
  • Having only six active properties on the market and 47 closed in the past 12 months, the under $40,000 price range is one of the strongest seller's markets ever seen in this report.  Three of the four time periods utilized in calculating absorption rates indicate less than a two month supply and the fourth time period indicates right at two months. 

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