Home Sales in Ashland Park, Champaign IL

By
Real Estate Agent with Beringer Realty

Ashland Park Model HomeHome sales in Ashland Park, Champaign IL may finally be heading towards stabilization this year after a few tough seasons for home sellers! When development first began in Ashland Park neighborhood about 6 or 7 years ago, the subdivision quickly gained popularity for its convenient location and low-maintenance, affordable homes with beautiful, modern design. However, a few years later as the economy slowed, home sales slowed, too, and in Ashland Park, resale homes were competing with the next phase of new construction. The result? Many homes lingered on the market and home values dropped.

Buyers have been getting absolutely amazing deals in Ashland Park, Champaign IL for the past 2 years... but it's possible that we're seeing the tail end of this trend.

Just over two years ago (6/19/2010) I wrote a blog about Ashland Park neighborhood complete with statistics about the real estate market for the subdivision. Let's take a look at the numbers back then compared to now:

 


Home Sales in Ashland Park, Champaign IL

 

Keep in mind that April 30th, 2010 was the deadline to have a home under contract to receive the first-time home buyer's tax credit, and June 30th, 2010 was the deadline to close on the sale. Even after those inflated sales of 2010, there were still 31 homes on the market in Ashland Park compared to 24 homes on the market today. That's about 20% less inventory, which is great news for sellers.

Currently the average sale price is still down compared to where it had been, but I suspect that it might be hitting bottom by now. Take a look at the total number of home sales in Ashland Park, Champaign IL over the last 5 years:

  • 2008: 40 home sales    
  • 2009: 43 home sales
  • 2010: 39 home sales
  • 2011: 33 home sales
  • 2012 (to date, through 7/6): 20 home sales

In mid-2010, there were 31 homes on the market and in 2011 there would only be 33 total home sales in Ashland Park. That's really rough! So far for 2012, we already had 20 sales in the first 6 months with another 9 pending. It seems we're on track to have around 40 sales total for the year. And more sales combined with less inventory would mean a more stable market. I'll be keeping watch on the home sales in Ashland Park, Champaign IL and hope that things continue to look up!

 

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Shannon Lewis is a Realtor® and broker at Beringer Realty located in Urbana, Illinois. She and her partner, Debbie Hensleigh, help home buyers and sellers in Urbana, Champaign, Savoy, and many other surrounding communities.

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To contact Shannon with a question, for real estate assistance, or just to say "hey!":

call 217-552-8059, or email Shannon@HomeplaceAdvisors.com

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John McCormack
Albuquerque Homes Realty * www.AlbuquerqueHomes.com - Albuquerque, NM
AlbuquerqueHomes.com, Albuquerque Homes Realty

Good afternoon Shannon,

A good report on the Ashland Park, Champaign IL real estate market.  It sounds like the Ashland Park area very well may exceed the 2009 record with six months to go.  Hang in there and go for it my friend! 

Jul 13, 2012 01:52 PM #1
Rainer
230,789
Shannon Lewis
Beringer Realty - Champaign, IL
Realtor, Broker - Champaign-Urbana, IL

Hi John, thanks for stopping by and reading. Enjoy your weekend!

Jul 13, 2012 03:14 PM #2
Rainmaker
299,963
Carol Faaland-Kronmaier
Weichert, Realtors; Hillsborough - Hillsborough, NJ
PhD, e-PRO, Manville, Hillsborough, Somerset NJ Homes

Shannon, This is an easy to read market report for Ashland Park! Have a great week.

Jul 14, 2012 03:13 AM #3
Rainer
230,789
Shannon Lewis
Beringer Realty - Champaign, IL
Realtor, Broker - Champaign-Urbana, IL

Thank you, Carol. You, as well!

Jul 14, 2012 06:32 AM #4
Rainmaker
1,230,992
Al & Peggy Cunningham Brokers, Brampton Ontario Homes For Sale 905-450-5500
RE/MAX Realty Services Inc. - Brampton, ON

Great to hear the Ashland Parkarket is stabilizing Shannon. Buyers better get off the fence and buy before prices rise further!

Jul 14, 2012 06:35 PM #5
Rainer
230,789
Shannon Lewis
Beringer Realty - Champaign, IL
Realtor, Broker - Champaign-Urbana, IL

Me, too! I hope our market continues to improve. Enjoy the weekend, Al & Peggy!

Jul 14, 2012 06:55 PM #6
Rainmaker
153,667
James A. Browning
Browning Real Estate School/REO Institute - International, INT
MRE REOCertified(R) SSCertified

Thanks for the connection on Facebook! Please join our group on LinkedIn, ‘REO Institute’. We share information on market conditions, posts, ideas, and comments. Please share your opinions and comments on the Real Estate industry. Thanks, James A. Browning MRE

Jul 15, 2012 08:46 AM #7
Rainmaker
1,098,335
Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
PasadenaCA Real Estate Representation 818.516.4393

Hello Shannon --- very concise and comprehensive report for the Ashland Park market.  It looks like very good news for sellers in this very attractive neighborhood.

Jul 16, 2012 07:58 AM #8
Rainer
230,789
Shannon Lewis
Beringer Realty - Champaign, IL
Realtor, Broker - Champaign-Urbana, IL

Hi Michael, thank you for reading. I do hope we continue to have good news for sellers around here...it's long overdue :-)

Jul 16, 2012 12:06 PM #9
Rainmaker
578,430
Curtis Van Carter
Coldwell Banker Brokers of the Valley, Yountville Napa Valley - Yountville, CA
Napa Valley's Broker Extraordinaire in Yountville

Shannon

It seems your market is definitely on the mend. These are the type of statistics which are great for buyers and sellers to get a true read for the market. Keep up the good work. cheers cvc

Jul 17, 2012 02:01 PM #10
Rainer
230,789
Shannon Lewis
Beringer Realty - Champaign, IL
Realtor, Broker - Champaign-Urbana, IL

Thanks, Carter. Enjoy your day!

Jul 17, 2012 02:06 PM #11
Rainmaker
706,164
Steve and Jan Bachman
RE/MAX Gateway, Reston, Herndon, Ashburn, Sterling, Fairfax - Herndon, VA
Realtors - Northern Virginia

It amazes me how much quality home a buyer can purchase in Champaign!

This is the kind of report that the public wants to see from us...clear, current data. Well done Shannon.

Jul 18, 2012 07:16 AM #12
Rainer
230,789
Shannon Lewis
Beringer Realty - Champaign, IL
Realtor, Broker - Champaign-Urbana, IL

We do have a VERY affordable market here in Champaign! Thank you, Steve!

Jul 18, 2012 07:23 AM #13
Rainer
185,421
Irene Durocher
Coldwell Banker BUYERS AGENT - Boca Raton, FL
homesweethome4u@att.net

Hi Shannon, it is good to see that housing trends  around the country are changing for the positive.

I hope it continues to go up. Buyers should be purchasing now befoe  they rise anymore.

Have a great day.

Jul 19, 2012 04:48 AM #14
Rainer
230,789
Shannon Lewis
Beringer Realty - Champaign, IL
Realtor, Broker - Champaign-Urbana, IL

Hi Irene, I'm glad to see improvement in various places around the country, too. I hope that the trend continues!

Jul 19, 2012 06:16 AM #15
Rainer
307,049
Jennifer Chiongbian
Specializing in all types of Manhattan apts & townhouses - Manhattan, NY
Real Estate Broker - NYC

Good to hear prices are up in Ashland Park.  It's always good to hear when home prices are up else where.  That's a good sign for the economy!

Jul 19, 2012 12:22 PM #16
Rainer
230,789
Shannon Lewis
Beringer Realty - Champaign, IL
Realtor, Broker - Champaign-Urbana, IL

Actually, prices are still down...but total sales are up and inventory is down, which, if it continues this way, would drive prices up eventually. Hopefully I didn't just confuse you further with all the "up"s and "down"s in that sentence :-)

Jul 19, 2012 02:04 PM #17
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