Oak Lawn Homes Sold Within the Past 3 Months with exactly 3 bedrooms and 1.1 baths (As of 02/27/2009):

The average market time for all 3 bdrm, 1.1 baths that have closed in Oak Lawn in the past 3 months through the MLS (MLSNI) averages 96 days on the market. Some of these properties received and accepted an offer within the first 4-7 days being on the market, others took months before they had an offer they accepted - so the time frame will vary, but I can tell you the houses that sold quickly we're priced very competitively and/or were in "show condition."

In Oak Lawn, we are currently experiencing a lot of inventory and a limited amount of qualified buyers (like most areas in the country), so keep in mind that in order to sell, your home must be in excellent show condition and priced correctly. Right now buyers are extremely attuned to what they want and are willing to wait until they find it. I have found that the majority of buyers are looking for "move in condition" and/or "very well priced" homes/condos. Move in condition means that your house is sparkling clean (especially baths/kitchen), organized (free of all clutter), neutral -remember buyers have to visual themselves in your home, so indicators of the "sellers" style whether it be family pictures or the bright pink paint that little Suzie must have in her room is not good for the buyer's imagination. There are many homes selling in Oak Lawn and Oak Lawn is a great community that offers endless benefits to buyers. Also please visit my website for more tips on how to get your home in "show condition."

Hi Hugo-
If Priced correctly, a home will be under contract within the first month. If it's on the market any longer than that, the home has been rejected by the market. The lowest priced home in Oak Lawn with 3 bedrooms, 1.5 bath is $145k the highest priced home with 3 bedrooms and 1.5 bath is $339,900.
The only two things that you can control when you are trying to sell your home is price and condition. If your home is impeccably kept and you are marketed correctly. And you do not have an offer with the first 30 days. You need to lower the price of your home until the market stops rejecting your home.
How long a home sits on the market is determined by the price and condition of the home, not what it has or where it is located.
Hope that helps!

Huge-

There are currently 208 active 3 bedroom single family homes on the market in Oak Lawn with an average list price of 261,959 and an average of 165 days on the market. Of the homes that have sold in the past 6 months in Oak Lawn the average sales price was 231,240 and the average days on the market was 136.

I hope this information helps!

Hugo
Thank you for your post.
I have a couple of thoughts that might help you:
First, the good news is that homes are selling (see link). Homes that sell in the first 30 days in most markets sell closest to asking price. In my MLS that's 100% of asking, at 120 days they are selling fo r93.6% of asking.
Second, when a home is listed for sale we expect 10-12 showings or one offer in the first tow weeks on the market. Otherwise we lower the price.

So in most markets about 20% of the homes sell within 30 days, the rest sit there and accumulate market time while losing value.

In most markets that means homes that are properly prepared for market, priced correctly, and aggressively marketed should sell in two to six weeks. That mean in almost ANY market.

I recommend that you interview three Realtors and compare their information. I would be honored to provide you with a referral of a Top Realtor in your area.

If you have more questions please let me know.