Coldwell Banker Real Estate LLC released their Home Listing Report (HLR) on June 15. The snapshot survey is of listing prices for four-bedroom, two-bathroom houses in more than 2,300 North American markets.
Kankakee is shown to be the most affordable market out of the 139 Illinois markets reviewed. The average price for a home matching the subject home criteria is $82,621. The report identified Lake Forest as the state’s most expensive market. A four-bedroom, two-bathroom house averages $753,543. The difference between the most affordable and most expensive markets is $670,000, according to the survey.
The average four-bedroom, two-bathroom house in Illinois is $301,258, compared the overall national average of $293,251.
The Coldwell Banker HLR provides the average home listing price of four-bedroom, two-bathroom properties that appears on their website. The listings were posted between September 2010 and March 2011 from more than 2,300 North American markets. Markets included in the U.S. report were required to have at least 10 properties fitting the criteria within the relevant timeframe.
“This year’s home listing report is by far the most in-depth local market source of data that Coldwell Banker has ever released,” said Jim Gillespie, chief executive officer, Coldwell Banker Real Estate LLC, in a press release. “We’ve included nearly ten times more markets than ever before, which gives us unmatched real estate insight into thousands of North American cities. For instance, we can see that there are 775 U.S. markets averaging $200,000 or less for these types of aspirational homes. We know that home buying remains a deeply personal lifestyle decision, and we believe that reports like this, along with trusted real estate agents, will help to today’s buyers make smart decisions.”
Some of the other Illinois’ markets that the survey features are: Highland Park, Evantson, Chicago, Oak Lawn, Elgin, Glen Ellyn and Aurora.