The median sales price for Tower Lake homes for sale in the month of December was $265,000 for 2012.
Tower Lake, IL (PRWEB) January 19, 2013
Tower Lake homes for sale over the past three years have been all detached and no attached properties. The amount of listing activity is low along with its month supply of inventory, median sales price and the number of homes for sale. The amount of closed sales and market time for Tower Lake homes has increased for December 2012.
Tower Lake properties average one new listing during the month of December and has many detached homes available. The month supply of inventory does not include condos or townhomes in Tower Lake. From December 2010 to now, the average amount of monthly supply of homes for sale averages around 6 months of inventory. The median sales price for Tower Lake homes for sale in the month of December was $265,000 for 2012. This month's median sales price average dropped 22% from three years ago when the median sales price was at $398,000 in December 2010. Within this average of median sales price, the traditional homes for sale listed around $222,700, which is significantly lower than in December 2010 when traditional homes listed at $398,500.
Homes for sale in Tower Lake have not included REO activity for the past three years. However, in the past two years there has not been any Short Sale activity until this year with December 2012 having a median sales price for its Short Sale properties at $265,000. Also during this month, the number of homes for sale in Tower Lake averages around 9 properties for sale for the past two years. The market time for the amount of days a property is for sale during December in Tower Lake has an average of 182 days on market. This time last year the market had a stale issue with homes staying on the market for an average of 308 days. The number of closed sales has increased in proportion to the amount of the decrease of median sales price for Tower Lake homes. A total of 3 closed sales occurred for the month of December 2012, accounting for more activity this year than the past three years.
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