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Market Conditions - Lois Hoene, Effingham, Illinois, Realtor

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Published on Feb 8, 2008

Lois Hoene covers the Effingham, Illinois market, and reports 2007 was a very good year for the area.

The sale price of homes appreciated 9.63 percent from 2006 and the average sale price increased from $131,000 in 2006 to $145,000 in 2007.

Lois reports an increase in buyers this January, with houses only staying on the market for 126 days and home prices averaging $160,000.

And as far as the future is concerned, Lois thinks the market will be good for both buyers and sellers.

Lois perceives efforts by both the city and county of Effingham to keep the local economy growing as a sign the market will continue to be strong.

So what are the market bright spots?

Well, Lois sees new home starts picking up after a small slowdown in 2007, and Condominiums, a new housing style in Effingham, will start coming on the market this spring.

So with a strong community supporting a growing economy and a stable housing market, Lois sees 2008 being a very good year.

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