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Market Conditions in 60062 : Real Estate Advice

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  • Home Buying10
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Activity 2
Tue Jul 26, 2011
Wally answered:
As a general contractor I could build 3200 sqf house for $120 per sqf.Usually I don't like to give cost per sqf , I prefer to calculate cost based on specific plan.
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Wed Jul 2, 2008
Eric Egeland answered:
This isn't as straightforward as it may seem
Market data will show the difference of last asking price vs. closing price which will give you a percentage around 5% off of ask. The problem with this is many of these homes were on the market for months & reduced their price by 10% before they finally got an offer on the last listed price.

Although the percentage stat for ask vs. close helps, each home has to be looked at in a case by case. Some homes come on the market priced to go & some are really over inflated.
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