According to recent article from the Illinois Association of Realtors, home sales surged 18 percent over previous year levels, with data released today by the Illinois Association of REALTORS® showing signs that the state’s housing market is strengthening.
Statewide home sales (including single-family homes and condominiums) in June 2012 totaled 13,111 homes sold, up 18.0 percent from 11,108 home sales in June 2011. This was the best June performance since 2010 when 13,144 homes were sold in Illinois.
The statewide median price in June was $155,000, up 3.3 percent from June 2011 when the median price was $150,000. This was the fourth straight month of median price increases in Illinois, and marked a $32,650 jump in median prices since January. The median is a typical market price where half the homes sold for more and half sold for less.
“The combination of low prices and even lower interest rates in June far outweighed any lingering concerns on the part of prospective homebuyers about the broader economy,” said Loretta Alonzo, CRB, GRI, president of the Illinois Association of REALTORS® and Broker-Owner of Century 21 Alonzo & Associates in La Grange Park, Ill. “This year’s spring selling season clearly marked a promising turn in the housing market in Illinois.”… read entire press release
Find Illinois housing stats data and the University of Illinois REAL forecast at www.illinoisrealtor.org/marketstats.