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Here is the average home price in Metro East

In case you’re thinking about the sellers’ market, the average home price in Metro East is $183,593.

That’s according to statistics from the Realtor Association of Southwestern Illinois

October inventory demands continue to increase home prices, the association said this week.

Home sales

Compared to October 2020, St. Clair County home sales were down 2 percent and Madison County had an 8 percent decrease.

Compared to September 2021, home sales in St. Clair County dropped 9 percent. Madison County had a drop of 7 percent. Metro-East home sales were down 20 percent from last month, while Illinois was down 11 percent, with 15,920 homes sold in October.

St. Clair and Madison County had increases in year-to-date home sales. St. Clair County saw a 25 percent increase from this time last year. While Madison County had a 20 percent increase.

Year-to-Date home sales include homes sold from Jan. 1, 2021, to Oct. 31, 2021.

Home prices

St. Clair County home prices were up from October 2020 with a 11 percent increase, an average price of $204,125. Madison County home prices were up 1 percent, with an average price of $181,411. Home prices in Illinois were up 5 percent, with a median home price of $245,000. Metro-East home prices increased 15 percent.

“Sellers are continuing to see record sales prices as inventory limits continue their stride” says Karen Sheesley of RE/MAX Preferred and president of the Realtor Association of Southwestern Illinois.

Days on market

Homes sold faster in most Metro-East counties in October. Homes in St. Clair County sold 40 percent faster than last year. While Madison County homes sold 30 percent faster. In the state of Illinois, the average days on market statistic was down 35 percent. The Metro East average amount of time a house stays on the market is 65 days. Which is down from 84 days in October 2020.

Statistics provided by MARIS

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