based upon information furnished by the Illini Valley Board of Realtors
OK, what does all that data mean? Quite a bit, actually. On of the first important things you see is the difference between the listing price and the sales price, ON AN AVERAGE. Each agent is different on how they advise their clients to list and the decision is ultimately up to their client. What is certain is that you could have about a 10% variance when you choose which homes to view. Your personal inspection will quickly show you the difference in the value, regardless of the listing price. A good agent will fill in the blanks as to possible reason why a home may be a bit higher or lower such as location, brick exterior or other features that are particularly attractive thus commanding a higher price.
Another factor of note in the Princeton area is the number of licensed real estate agents and brokerage offices. I have had many comments on this from those new to the area, as well as from natives! There are 44 agents with 11 different offices in Princeton that belong to the Multiple Listing Service. There are also several offices not in the MLS, and some office outside of Princeton with listings in the area.
Are you getting the picture? This all leads to a highly competitive market. Now, competition can be a good thing, keeps us all on our toes. There are some specialties such as farm agents, new home construction, etc. and there are many part-time agents. Basically the old 80/20 rule: 80% of the business is done by 20% of the people. As a Buyer, this atmosphere does breed higher listing prices to keep Sellers happy and a tendency to sell "in-house" listings, ones listed by the same agency.
All in all, Princeton is a steady housing market and should continue. You will find a great variety in homes from the beautiful Victorians to a splendid new home on an acre in a subdivision and everything in between.