Appraisal - Homewood, Illinois 60430

Homewood, Illinois 60430

Citywide Services performs residential real estate appraisals in Homewood, IL. 60430

The village of Homewood is located approximately 22 miles southwest of the Chicago "Loop" in suburban Cook County. The population was 19,453 at the 2000 census. The village has a total area of 5.3 square miles

Homewood's municipal neighbors include East Hazel Crest to the north, the villages of Thornton & Glenwood to the east, Flossmore & Chicago Heights to the south and Hazel Crest to the west.

According to data from the Northern Illinois MLS there were 246 sales of single family homes in 2007, down from 316 in 2006. The average sales price was $214,028.00, this was an increase from $209,799.00 in 2006. Marketing times were an average of 108 days on the market, up over the 2006 average of 76 days.

As of February 19, 2008 there are 177 active listings of single family detached homes in the MLS. At the 2007 level of absorption this is 8.63 months of unsold available inventory. A 3-4 months supply of inventory is considered "in balance", this level is an oversupply.

To recap 2007 for detached homes, sales volume was down -22.15%, average sales prices increased +2.01% and the days on the market were up +42.10%. This market is oversupplied and the 177 active listings have already been on the market an average of 178 days.

The condo/townhouse market had 61 sales, down from the 118 properties that sold in 2006. Sales prices saw an increase with the average 2007 sales price at $109,261.00, compared to $107,408.00 in 2006. Marketing times were an average of 72 days on the market, similar to 2006.

There are 48 active listings of attached homes in the MLS. Based on the 2007 level of absorption this is 9.44 months of unsold inventory.

The condo/townhouse market is over supplied, sales volume was down -38.98%, average sales price increased +1.72%, and the days on the market have remained stable. The 48 active MLS listings have already been on the market an average of 134 days.

If you have an active listing or need to sell in 2008 now is the time to get an appraisal. The market has changed and only the most competitively priced homes will be selling soon.

Make sure that your listing is competitive, get a current appraisal. Complete appraisals of single family homes and condominiums start at $275.00. this is a small price to pay for knowledge that will help you position your house to sell in the current market.

Citywide Services provides residential appraisal service in Homewood, IL. 60430. Our appraisers are state certified and have experience with single family homes, townhouses, condominiums as well as small residential income properties. For all your Cook County appraisal needs contact Citywide.

To order an appraisal or to speak with an appraiser call 1-800-405-9718

Village of Homewood Website

Geographic Area: Homewood, Cook County Illinois 60430

Subject	Number	Percent	Subject	Number	Percent

Total housing units	8,388	100.0	OCCUPANTS PER ROOM
UNITS IN STRUCTURE			Occupied housing units	8,093	100.0
1-unit, detached	6,232	74.3	1.00 or less	8,011	99.0
1-unit, attached	193	2.3	1.01 to 1.50	54	0.7
2 units	121	1.4	1.51 or more	28	0.3
3 or 4 units	303	3.6
5 to 9 units	283	3.4	Specified owner-occupied units	5,882	100.0
10 to 19 units	370	4.4	VALUE
20 or more units	834	9.9	Less than $50,000	0	0.0
Mobile home	46	0.5	$50,000 to $99,999	1,050	17.9
Boat, RV, van, etc.	6	0.1	$100,000 to $149,999	2,758	46.9
			$150,000 to $199,000	1,502	25.5
YEAR STRUCTURE BUILT			$200,000 to $299,999	477	8.1
1999 to March 2000	60	0.7	$300,000 to $499,999	95	1.6
1995 to 1998	245	2.9	$500,000 to $999,999	0	0.0
1990 to 1994	169	2.0	$1,000,000 or more	0	0.0
1980 to 1989	465	5.5	Median (dollars)	137,300	(X)
1970 to 1979	1,764	21.0
1960 to 1969	1,943	23.2	MORTGAGE STATUS AND SELECTED
1940 to 1959	2,875	34.3	MONTHLY OWNER COSTS
1939 or earlier	867	10.3	With a mortgage	4,236	72.0
			Less than $300	0	0.0
ROOMS			$300 to $499	0	0.0
1 room	46	0.5	$500 to $699	142	2.4
2 rooms	88	1.0	$700 to $999	684	11.6
3 rooms	533	6.4	$1,000 to $1,499	1,903	32.4
4 rooms	985	11.7	$1,500 to $1,999	1,118	19.0
5 rooms	1,590	19.0	$2,000 or more	389	6.6
6 rooms	1,415	16.9	Median (dollars)	1,327	(X)
7 rooms	1,565	18.7	Not mortgaged	1,646	28.0
8 rooms	1,336	15.9	Median (dollars)	438	(X)
9 or more rooms	830	9.9
Median (rooms)	6.2	(X)	SELECTED MONTHLY OWNER COSTS
			AS A PERCENTAGE OF HOUSEHOLD
Occupied Housing Units	8,093	100.0	INCOME IN 1999
YEAR HOUSEHOLDER MOVED INTO UNIT			Less than 15 percent	1,875	31.9
1999 to March 2000	930	11.5	15 to 19 percent	1,044	17.7
1995 to 1998	1,998	24.7	20 to 24 percent	1,072	18.2
1990 to 1994	1,474	18.2	25 to 29 percent	646	11.0
1980 to 1989	1,733	21.4	30 to 34 percent	378	6.4
1970 to 1979	1,014	12.5	35 percent or more	841	14.3
1969 or earlier	944	11.7	Not computed	26	0.4

VEHICLES AVAILABLE			Specified renter-occupied units	1,133	100.0
None	490	6.1	GROSS RENT
1	3,057	37.8	Less than $200	20	1.8
2	3,517	43.5	$200 to $299	8	0.7
3 or more	1,029	12.7	$300 to $499	28	2.5
			$500 to $749	519	45.8
HOUSE HEATING FUEL			$750 to $999	363	32.0
Utility Gas	6,909	85.4	$1,000 to $1,499	117	10.3
Bottled, Tank, or LP gas	69	0.9	$1,500 or more	52	4.6
Electricity	1,038	12.8	No cash rent	26	2.3
Fuel oil, kerosene, etc.	12	0.1	Median (dollars)	741	(X)
Coal or coke	0	0.0
Wood	14	0.2	GROSS RENT AS A PERCENTAGE OF
Solar energy	0	0.0	HOUSEHOLD INCOME IN 1999
Other fuel	43	0.5	Less than 15 percent	188	16.6
No fuel used	8	0.1	15 to 19 percent	155	13.7
			20 to 24 percent	145	12.8
SELECTED CHARACTERISTICS			25 to 29 percent	155	13.7
Lacking complete plumbing facilities	14	0.2	30 to 34 percent	102	9.0
Lacking complete kitchen facilities	11	0.1	35 percent or more	356	31.4
No telephone service	26	0.3	Not computed	32	2.8

-Represent zero or rounds to zero. (X) Not applicable.
Source: U.S. Bureau of the Census, Census 2000.

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