Home Prices in C-U Area Hold Steady Over 2010

According to yesterday’s article in the NewsGazette, Don Dodson, reported that home sales in the Champaign County area were slightly lower last year than in 2010. But the median and average selling price were nearly unchanged from a year earlier.

In January, the Illinois Association of Realtors reported that home sales in December were up 14 percent from a year earlier. It was the sixth straight month of sales increases. In a release issued by the association, Hewings projected that sales volume in January, February and March will be “significantly higher,” even though prices will remain lower than a year ago.

Matt Difanis, president of the Champaign County Association of Realtors, said he sees “strong evidence that the market has stabilized pricewise.”

Last year the average selling price was $152,261, down 1 percent from $153,812 in 2010.

Meanwhile, the median sales price was $136,000, down 0.36 percent from $136,500 in 2010.

That’s a big difference from home sales statewide, where the median price fell 9.2 percent from 2010.

The number of homes sold in the Champaign County area during 2011 was 1,966, down 3 percent from 2010, Difanis said.

Those figures, compiled by the association’s Multiple Listing Service exclude out-of-area homes sometimes included in the data, he said.

In the area that includes Champaign and Savoy, for instance, units sold were down 12.1 percent and sales volume in dollars was down 7.6 percent. But the average selling price was up 5.2 percent and the median selling price was up 4.4 percent.

Difanis said he feels optimistic about 2012, though it’s too early in the year to quantify an upturn. Click Here to read this article in its entirety.

Article Provided Courtesy of Don Dodson, staff writer, NewsGazette

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