Business & Tech
Not Surprising: Home Prices Down in Mount Pleasant, Sturtevant
Fewer homes are going into foreclosure and more homes sold in 2011 throughout the county than in 2010.
News from local real estate markets is a classic mix of good news/bad news. On the one hand, more homes sold across Racine County in 2011 than in 2010. But on the other hand, prices in Mount Pleasant and Sturtevant dropped significantly.
In a story from The Journal Times, figures from the 2011 Multiple Listing Service indicate home prices fell in by almost 20 percent, to an average of $153,532. Prices in fell to almost $127,000 but still sell for nearly double the average price of a home in the City of Racine.
Overall, Racine County home sale prices are down about 30 percent, with averages at $129,586. A few bright spots include the City of Burlington and the Villages of Elmwood Park and Wind Point, which saw marginal pricing increases.
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Fewer homes are getting put for sale as foreclosures, but according to Lakes Area Realtor Association President Ryan Simons, there is a "shadow inventory" of homes that have been repossessed but haven't been put on the market just yet.
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