Residential home sales increased in almost every county in the Metro East at year’s end.
A new report from the Realtors Association of Southwestern Illinois said Madison County saw a 25.2 percent increase, Clinton and Washington counties both had 25 percent increases, and St. Clair County had 24.2 percent increase in home sales in December 2020, compared to one year earlier.
According to Illinois Realtors, Illinois home sales were up 28.7 percent, while the Metro East was up 23.5 percent from November to November.
Year-to-date home sales also increased for the Metro East for 2020. St. Clair County saw a 13.4 percent increase, while Madison County was up 9 percent.
Year-to-date home sales include all homes sold from Jan. 1 to Dec. 31. Those home sales were up in Illinois by 9.6 percent and the Metro East by 11.2 percent, from this time last year.
Home prices continue to rise in the Metro East as well. Compared to December 2019, St. Clair County had a 12.5 percent increase, with an average home price of $186,270. Madison County home prices were up 15 percent, with an average price of $178,165. Home prices in Illinois were up 14.6 percent from December 2019, with an average home price of $229,000. The Metro East had an increase of 12.5 percent. The average home price in the Metro East, in December, was $154,700.
“2020 was full of surprises, but no one could have predicted what a great year it would be for the housing market. Knowing so many people have a place to call home is what makes our jobs as Realtors so rewarding,” said Celeste Wheeler, president of the Realtor Association of Southwestern Illinois.
Days on market
Homes in St. Clair County sold 37.6 percent faster in than December 2019. While Madison County homes sold 18.8 percent faster. In the state of Illinois, the average amount of time a house stays on the market is 42 days.
The Realtor Association of Southwestern Illinois can be reached through www.618realtor.com or contact the office at (618) 277-1980 or Membership@myRASI.com.