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Housing remains hot, new statistics from Metro East show

Sellers continue to benefit from a hot housing market , newly released statistics from the Realtor Association of Southwestern Illinois show.

Home sales

Compared to August 2020, St. Clair County home sales were up 6.9 percent and Madison County had a 0.77 percent percent Increase.

Compared to July 2021, home sales in St. Clair County stayed the same. Madison County had a increase of 8.9 percent. Metro-East home sales were up 9.6 percent from last month, while Illinois was down 2.4 percent, with 18,492 homes sold in August.

St. Clair and Madison County had increases in year-to-date home sales. St. Clair County saw a 13.7 percent increase from this time last year. While Madison County had a 10.4 percent increase. Year-to-Date home sales include homes sold from January 1, 2021, to August 30, 2021.

Home prices

St. Clair County home prices were up from August 2020 with a 16.5 percent increase, with an average price of $210,921. Madison County home prices were up 16.4 percent, with an average price of $202,839. Home prices in Illinois were up 8.4 percent, with an average home price of $257,000. Metro-East home prices increased 8.6 percent. The average home price in the Metro-East, in August, was $183,227.

“Limited inventory continued to boost home prices for sellers and lower days on market through August” says Karen Sheesley of RE/MAX Preferred and president of the Realtor Association of Southwestern Illinois.

Days on market

Homes sold faster in every Metro East county in August. Homes in St. Clair County sold 45 percent faster than last year. While Madison County homes sold 38 percent faster. In the state of Illinois, the average days on market statistic was down 47 percent. The average amount of time a house stays on the market is 24 days. Which is down from 46 days in August 2020.

The Realtor Association of Southwestern Illinois has more than 1,000 members.

Statistics are provided by MARIS.

 

 

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