Metro East home sales show increase in latest market report

Newly released residential home sales had increases in the double digits for most of the Metro East from November 2019.

Madison County saw a 42 percent increase, while St. Clair County home sales increased 30 percent. According to Illinois Realtors, Illinois home sales were up 29 percent, while the Metro-East was up 35 percent from last November.

Year-to-date home sales increased for the Metro-East in November. St. Clair County saw a 13 percent increase, while Madison County Year-to-Date home sales were up 7.8 percent. Year-to-Date home sales includes all homes sold from January 1 to November 30. Year-to-Date home sales were up in Illinois by 8 percent and the Metro-East by 10 percent, from this time last year.

Home prices continue to rise in the Metro East. Compared to November 2019, St. Clair County had an 8 percent increase, with an average home price of $174,461. Madison County home prices were up 1 percent, with an average price of $165,500. Home prices in Illinois were up 15 percent from November 2019, with an average home price of $230,000. The Metro-East had an increase of 13 percent. The average home price in the Metro-East, in November, was $152,750.

“I think staying at home and working from home has given people a new perspective on what they want and need from their home. This has caused people to buy new homes or decide to buy their first” says Celeste Wheeler, president of the Realtor Association of Southwestern Illinois.

Homes in St. Clair County sold 15.3 percent faster in November. In the state of Illinois, the average amount of time a house stays on the market is 41 days.

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