October 2023 Sangamon County Market Report
In October, the local real estate market demonstrated robust performance, with 181 properties changing hands at a median price of $189,000. The market maintained a balanced pace, as properties spent an average of 46 days on the market, indicative of sustained buyer interest. The injection of 90 new listings bolstered the active inventory of 184 properties, while 223 pending sales signaled a positive outlook for the coming weeks.
Despite global economic uncertainties, the local real estate sector remains resilient, with buyers actively participating and expressing confidence in the stability of real estate as an investment. The pricing dynamics, reflected in the median price, strike a balance between affordability and property value. The interplay between new listings, active inventory, and pending sales suggests effective inventory management, creating a dynamic and responsive market poised for stability in the final months of the year.