The Metro East is following the state trend with double-digit increases in home sales, numbers released this week show.
Residential home sales continue to increase from last year. Compared to February 2020, Madison County had an increase of 13.7 percent. St. Clair County home sales were up 7.6 percent. Home sales were up in the Metro East by 6.9 percent and Illinois was up 11.9 percent from last February.
Madison County home sales saw an increase from last month as well as last year, with an increase of 10.9 percent. Randolph County had an overwhelming increase in home sales from January, with 271.4 percent.
Year-to-date home sales were also up for most Metro East counties. St. Clair County had an increase of 18.3 percent, while Madison County had a 16.7 percent increase. Year-to-Date home sales include homes sold from Jan. 1, 2021, to Feb. 28.
Metro East home prices saw double-digit increases in the Metro East. Madison County home prices were up 14.4 percent, with an average price of $176,688. St. Clair County had a 10 percent increase, with an average home price of $169,044. Home prices in Illinois were up 14.1 percent, with an average home price of $226,983. The Metro East had an increase of 10.6 percent. The average home price in the Metro East, in January, was $144,900.
“I think the increases we’re seeing in the winter months are preparing us for a terrific Spring housing market,” says Celeste Wheeler, president of the Realtor Association of Southwestern Illinois, based in Shiloh.
Days on market
Homes in St. Clair County sold 32 percent faster than in February 2020. Madison County homes sold 1 percent faster than last year. In the state of Illinois, the average days on market statistic was down 21 percent. The average amount of time a house stays on the market is 53 days.
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Statistics are provided by MARIS.