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Monday, November 25, 2024

Palmyra home prices fall in the second quarter of 2019

Realestate2

The median sale price of a home sold in the second quarter of 2019 in Palmyra fell by $104,250 while total sales decreased by 50%, according to BlockShopper.com.

From April through June of 2019, there were four homes sold, with a median sale price of $127,500 - a 45% decrease over the $231,750 median sale price for the same period of the previous year. There were eight homes sold in Palmyra in the second quarter of 2018.

The median sales tax in Palmyra for the most recent year with available data, 2017, was $3,700, approximately 2.9% of the median home sale price for the second quarter of 2019.

The following table compares Palmyra to other Lee County cities with similar median sales prices in the second quarter of 2019:

CityApr. - June 2019 Home SalesApr. - June 2018 Home Sales% change (Total Home Sales)Apr. - June 2019 Median Sales PriceApr. - June 2018 Median Sales Price% change (Median Sales Price)
Nelson110%$199,000$33,000503%
Lee10-$142,000$0-
Paw Paw411-63.6%$138,000$116,50018.5%
Steward220%$136,000$198,500-31.5%
Palmyra48-50%$127,500$231,750-45%
Compton40-$101,995.25$0-
Amboy1013-23.1%$96,500$120,000-19.6%
Dixon3460-43.3%$80,700$76,0006.2%
Franklin Grove550%$57,000$60,000-5%
Harmon13-66.7%$50,100$37,00035.4%
Sublette110%$50,000$300,000-83.3%

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