Metro East home sales ended year on a positive note
From Illinois Business Journal news services
BELLEVILLE — Metro East saw increases in home sales in St. Clair, Monroe, Clinton and Randolph counties in 2015, compared to one year earlier.
St. Clair, Clinton and Monroe counties all recorded the highest number homes sold annually in more than five years. Compared to 2014, Realtors in St. Clair County sold 8.3 percent more home sales year-to-date in 2015. In that same comparison, Realtors in Clinton County reported an 8.3 percent increase, while Realtors in Monroe County sold 13.3 percent more homes year-to-date in 2015. Realtors in Randolph County recorded a 6.5 percent increase in year-to-date home sales in 2015 compared to 2014.
These increases followed the statewide increase in year-to-date home sales. According to the Illinois Association of Realtors, 5.9 percent more homes were sold in 2015 over 2014.
“We are ecstatic about last year’s home sales increase, and we are expecting this trend will continue into 2016,” said Doug Payne, president of the Realtors Association of Southwestern Illinois. “Housing is such an important part of the economy, and making positive strides in home sales in 2015 is a positive sign for the economy as a whole. According to the National Association of Realtors, when a home is sold in Illinois, $13,491 of income is generated from real estate related industries, as well as $4,494 is spent on consumer items such as furniture, appliances, and paint service. The impact of the housing industry is vital to many different areas of the economy.”
On another positive note, median home prices in the Metro East recorded positive increases in December 2015 compared to December 2014. Compared to December 2014, St. Clair County reported a 14.19 percent increase in median home price for December 2015, while Randolph County reported 14.75 percent increase in median home price in December 2015.
In regards to a month over month comparison, Realtors in St. Clair County reported an increase of 10.4 percent increase in home sales in December 2015 compared to December 2014. Following suit, Clinton County recorded a 8.3 percent increase in home sales compared to December 2014. Randolph County reported at 50 percent increase in home sales, while Monroe County reported an increase of 30.8 percent in home sales in December 2015 over December of the previous year. Each of these counties recorded the highest number of homes sold in December 2015 over December of the last five years.
Here are the numbers, courtesy of MARIS and the Illinois Association of Realtors:
