My partner's family is from Coal City, so I'm somewhat familiar with the area... From what I can see on the MLS, there are currently 113 active single family listings in Wilmington ranging from $43,000 to $1.9 million. 40 homes have closed in the last 6 months with an additional 16 under contract. Average sold price has been $150,000 with an average of 164 days on market (DOM).

Obviously real estate in this town spans the spectrum, so without knowing more details on your property in particular, it is hard to say how far "under market" you will need to go to entice a sale. Location, pricing, the home's showing condition, and the agent's marketing will determine time on the market and how close to asking price you will get. How does your home compare to others priced near it? Would you, as a buyer, go to see all of those homes and decide to buy yours because it's the best value?

You can offer to help pay closing costs or points to lower the buyer's interest rate; that's been helpful to us this year.

Best of luck with your sale!

Laurie, The Pych Team @ RE/MAX In The Village

There is no boilerplate answer to your question. One of the things you need to consider is comparable sales in your neighborhood. Short sales and foreclosure sales bring down the price a buyer would be willing to pay. Also the condition of your property as compared to others for sale in the neighborhood. One of the ways I use to list a property is take the price per square foot of all the comparable recent sales, average it out and then multiply by the square footage of the home I'm going to list. Even though this may be considerably lower than the fair market value, if the seller is anxious to sell, this will bring in buyers.

Just curious - what is the condition of your home? To get it sold, your home should be in the best condition at the lowest price in the area. Put yourself in the buyer's shoes...at what price would YOU go "no way! this house is only $x-dollars?!" That's the point at which buyers jump on a house and you could end up with several offers. Good luck!