From Illinois Business Journal news services
BELLEVILLE – The Realtor Association of Southwestern Illinois says year-to-date home sales are on the rise compared to a year ago.
The association, in an Oct. 8 report, released its most recent numbers, these through the end of August 2015. St. Clair, Monroe, Clinton, and Randolph Counties reported an increase in year-to-date home sales in August 2015 compared to August 2014. Additionally, St. Clair, Clinton, and Randolph counties also recorded a monthly increase in home sales in August 2015 compared to August 2014.
August 2015 was a good month for home sales in the Metro East. Realtors in Clinton County recorded a 52.2 percent increase in home sales in August 2015 compared to August 2014. Randolph and St. Clair Counties followed suit with a 2.7 percent increase in homes sold in St. Clair County and 21.4 percent more homes sold in Randolph County. St. Clair and Randolph counties also recorded the highest number homes sold in August for more than five years.
The Metro East year-to-date home sales also reported increases in August 2015. Realtors in St. Clair County sold 12 percent more homes year-to-date this August compared to August of last year. In that same reference, Monroe County recorded a 21.6 percent increase, while Randolph County reported an 11.9 percent increase. Realtors in Clinton County sold 4.7 percent more homes year-to-date in August 2015 over August 2014. St. Clair, Monroe, and Clinton Counties have sold a record number of homes so far this year. Year-to-date in August 2015, all three Counties reported the highest number of homes sold compared to the year-to-date figures from last five Augusts.
“We are excited to see such positive trends in the Metro East real estate market,” said Doug Payne, president of the Realtors Association of Southwestern Illinois. “These positive trends follow the statewide positive trends. According to the Illinois Association of Realtors, the average days on market for a home in Illinois is 64 days. Some other great news was just released by CoreLogic. According to CoreLogic, 91 percent of United States properties that have mortgages now have positive equity. These encouraging statistics along with the median home prices continuing to remain stable and mortgage rates still remaining incredibly low, make for a great time to sell or buy a home.”
On another positive note, median home prices in the Metro East are also on the rise. Compared to August 2014, St. Clair County reported a 7.4 percent increase in median home price for August 2015. Realtors in Monroe County reported an increase of 20.8 percent in median home price compared to last year.
The housing statistics are as follows: