SHILOH — The Realtor Association of Southwestern Illinois released the June 2016 housing statistics at the end of July. The median home price for Monroe, St. Clair, and Randolph Counties rose in June 2016 compared to June 2015.
The median home price for St. Clair County recorded a 7.8 percent increase in June 2016 compared to June of last year. In that same comparison, Randolph County reported an 8.8 percent increase, while Monroe County reported an 18.5 percent increase. The June 2016 median home price for Monroe County was $229,000, which is the highest recorded median home price for that County for June in last five years. St. Clair County reported that same record of the highest recorded median home price for that County as in June for the last five years. The statewide median home price followed suit, as the Illinois Realtors reported a 1.4 percent increase in median home price in June 2016 compared to June 2015.
Home are also moving quickly: It took Realtors in St. Clair County 56.5 percent less time to sell a home in June 2016 over June of last year, according to the Illinois Realtors. The average days homes were on the market in that county in June 2016 was 69 days compared to 108 days in June 2015. Clinton County reported a 148 percent decrease in the days on market in June 2016 compared to June 2015. The Illinois Realtors stated that it took an average of 139 days to sell a home in June 2015, whereas it took 56 days in June 2016. The report also stated that the average days on market for home sold in Monroe County decreased 70.9 percent in June 2016 over June 2015.
“The market dynamics of the Metro-East housing industry provide great opportunities for buyers and sellers,” said Doug Payne, president of the Realtors Association of Southwestern Illinois. “Mortgage rates continue to be near record lows.“
St. Clair and Randolph Counties both recorded an increase in year-to-date home sales compared to June 2015. St. Clair County reported a 9.6 percent increase in year-to-date home sales, while Realtors in Randolph County sold 24.2 percent more homes year-to-date in June 2016 over June 2015. Randolph County also reported an increase of 61.5 percent in home sales in June 2016 compared to June of last year. This County recorded 23.5 percent increase in home sales in June 2016 compared to May 2016, while Clinton County recorded a 20 percent increase in home sales of that same comparison.
The housing statistics are as follows:
— From the Illinois Business Journal