Year-to-date Metro East home sales on rise
From Illinois Business Journal news services
BELLEVILLE – The Realtor Association of Southwestern Illinois says year-to-date home sales numbers are on the rise.
In its most recent report, the agency said St. Clair, Monroe, Clinton, and Randolph counties all reported an increase in year-to-date home sales in June 2015 compared to June 2015. Additionally, St. Clair and Clinton counties also recorded a monthly increase in home sales in June 2015 compared to last June.
Realtors in St. Clair County sold 18.38 percent more homes in June 2015 compared to June of last year. In that same comparison, Monroe County recorded a 14.29 percent increase in home sales, while Clinton County saw a 36.36 percent increase.
Median home prices in the Metro East are also on the rise. Compared to June 2014, the median home price increased 10.2 percent in St. Clair County, 3.3 percent in Monroe County, and 14.6 percent in Clinton County. These increases in home prices are in line with the rest of the state, as Illinois median home prices rose in 61 Illinois counties, according to the Illinois Association of Realtors. According to IAR, the statewide median was up 8.5 percent this June.
“All of these encouraging statistics are good indicators that the Metro East housing market is strong,” said Christopher Mitchell, president of the Realtors Association of Southwestern Illinois. “The lower inventory of homes on the market is also commanding higher prices on properties. As a result of the lower number of homes on the market, homes are selling faster. For example, the statewide number for the days on market averaged just over two months this June, according to IAR. As Realtors, we are here to help buyers and sellers navigate through these findings and the local real estate market.”
The year-to-date home sales in the Metro East continued to see gains in June. St. Clair County recorded a 17.19 percent increase in year-to-date home sales compared to year-to-date in June 2014. Year-to-date home sales increased by 31.3 percent in Monroe County, 16.7 percent in Randolph County, and 2.9 percent in Clinton County.
Here are housing statistics provided by the SIR/MLS, Inc. and the Illinois Association of Realtors: