A total of 51 homes sold in Rosemont in this month, which is a unit volume increase of about 46% year over year. And at first glance it does seem like nothing much has changed over the last year. A closer look reveals that although the 13 homes that were non-distressed sales last March continued to remain the same number this March, non-distressed sales have been outpaced by distress sales. We have a 53% increase in foreclosures year over year (a total of 29 sold) and a 200% increase in short sales (9 total sold this March.) 75% of all sales are now distress sales.

Average sold price per square foot is currently at $119.63 – a drop of 24% year over year from a high of $157.01. Average sales price is $180,040, which is 20% lower than last year’s $225,329. Median sales price is at $178,695 down 18% from a high of $218,000. Homebuyers have thus afforded themselves homes approximately 5% bigger year over year.

Inventory is at 3 months (based on the last year of sales) and 3.2 months (based on the last six months of sales).

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