Let's take a look at the Chillicothe, IL Real Estate Market trends over the past six months. This report consists of properties that are located in Chillicothe High School District. It includes all residential properties including single family and single family attached properties but does not include lots.
Chillicothe homes for sale
There are currently (02/03/2019) 64 properties for sale. The average days on market is 125 and the median days on market is 95 days. The average list price is $142,780 and the median asking price is $118,900.
There are 13 properties that are pending, meaning that they have already accepted offers but have not yet closed. The pending ratio is 17% (13 divided by 64).
Chillicothe homes that sold within the past 6 months
There have been 84 properties that have sold and closed within the last six months. The average original asking price was $151,949 and the final asking price (after price reductions) was $143,668. The average sales price was $137,667 so the final list price to sales price ratio was 96%. The median original asking price was $134,900 and the final median asking price was $126,450. The median sale price was $122,200 so the final median asking price to sales price ration was 97%.
The average days on market for sold properties was 91 days and the median days on market for sold properties was 58 days.
Chillicothe homes that did not sell
There were 55 homes that were listed for sale that came off of the market without selling. Listings may fail to sell for many reasons such as being priced too high, having been inadequately marketed, the property was in poor condition, or perhaps the owner had second thoughts about selling at this particular time.
Market Absorption Rate
Analysis of the absorption rate for all properties in Chillicothe High School District indicates an inventory of 4.6 months based on the last 6 months of sales. This estimate is often used to determine how long it would take to sell off the current inventory of properties if all conditions remained the same. It is significant to mention that this estimate does not take into consideration any additional properties that will come onto the market in the future.
Average Asking Price$142,780
Median Asking Price$118,900
Average Sold Price$137,667
Median Sold Price$122,200
Chillicothe - Supply vs Demand
If there’s a one, two or three months’ supply of homes on the market, the demand exceeds the inventory so it’s considered a seller’s market. If there is a four or five-month supply of homes on the market, it's a balanced market. If there’s a six-month supply or more on the market, it's a buyer’s market.
Chillicothe Real Estate Market Summary Table
Additional information about the Chillicothe Real Estate Market
Would you like more information on the Chillicothe Real Estate Market? Check out our simple to read five-page reports that are packed full of charts, graphs, spreadsheets, and commentary.
If you are looking to buy or sell a home in the Chillicothe area, we would love to hear from you. Call us at (309) 693-1133 or Contact us here.