Fall home sales in Metro East up year over year

Residential home sales had a large increase from October of last year in the Metro-East. St. Clair County saw a 46 percent increase, while Madison County home sales increased 40 percent.

According to Illinois Realtors’s newest released numbers, Illinois home sales were up 34.9 percent, while the Metro East was up 33 percent from last October. According to Illinois REALTORS®, this was the strongest October since 2008, with 17,713 home sales.

Year-to-date home sales were up again this month in the Metro East as well. St. Clair County saw an 11.5 percent increase, while Madison County Year-to-Date home sales were up 5 percent. Year-to-Date home sales includes all homes sold from January 1 to October 31. Year-to-Date home sales were up in Illinois by 6 percent from this time last year.

Home prices

Home prices continue to rise in the Metro-East. Compared to October 2019, St. Clair County had a 7.9 percent increase, with an average home price of $182,781. Madison County home prices were up 5 percent, with an average price of $179,149. Home prices in Illinois were up 16.5 percent from October 2019, with an average home price of $233,000. The Metro-East had an increase of 9.6 percent from October 2019. The average home price in the Metro-East, for October, was $158,950.

“Homes are selling quickly all over the country and it’s good news for Illinois to be a part of that.” says Celeste Wheeler, president of the Realtor Association of Southwestern Illinois.

Days on market

Madison County homes saw a large 18.8 percent decrease in days on market from October 2019 to October 2020.Homes in St. Clair County sold 4.9 percent faster in October. In the state of Illinois, the average amount of time a house stays on the market is 43 days.