Newly released October statistics show Metro East home sales and prices mainly on the rise.
Clinton County saw a large rise in home sales with 36.4 percent, with Montgomery not far behind with a 30 percent increase. Macoupin, Randolph, and Monroe counties increased by 12.1 percent, 7.7 percent, and 3 percent, respectively.
Montgomery County saw a 54 percent increase in homes sold over September. Clinton and Randolph Counties had similar increases with 46.7 percent and 42.9 percent more homes sold this month.
The number of homes sold in much of the Metro East increased year-to-date in October of this year compared to the same time last year. Home sales in Jersey, Macoupin, Madison, and Randolph increased by 8.1 percent, 4.6 percent, 2.2 percent and 1.8 percent. Year-to-Date home sales include all homes sold from Jan. 1 to Oct. 31.
According to Illinois Realtors, home prices are up 5.3 percent across the state of Illinois and the Metro East is no exception, with an 11.3 percent price increase from October 2018. Madison County and St. Clair County Homes had similar increases over last month with 17.9 percent and 15.2 percent. Both counties also have similar price points, Madison County Homes average price being $171,557 and St. Clair County Homes at $170,230.
“I think seeing the state of Illinois and Metro East home prices increasing is a positive thing for everyone,” says Donna Baker, president of the Realtor Association of Southwestern Illinois.
In terms of days on market, Randolph, Jersey, and Macoupin counties all had decreases in days on market with 51.5 percent, 41.4 percent, and 11.4 percent.
Statistics provided by MARIS