Illinois Business Journal Report
Metro East home sales are on the upswing, according to numbers from a pair of Realtor associations that represent the area.
The Realtor Association of Southwestern Illinois says the February 2015 housing statistics reflect an increase in year-to-date home sales compared to the same time period in 2014, in St. Clair, Monroe, Randolph and Clinton counties.
St. Clair County recorded a 9.4 percent increase in home sales in February 2015 compared to February 2014. Compared to January 2015, the county also recorded an increase of 4.86 percent in home sales.
Realtors in Monroe County sold 27.8 percent more homes this February, while Realtors in Randolph County sold 25 percent more homes in February 2015.
Meanwhile, similar numbers are being seen by the Greater Gateway Association of Realtors, which covers small portions of St. Clair and Clinton counties and all of Madison, Calhoun Jersey and Bond counties.
Year to date: 198 were sold in Madison County, compared to 199 in the same timeframe last year; 10 homes were sold in Bond; 12 were sold in Jersey, compared to 13 a year ago and 39 were sold in St. Clair, compared to 35 last year.
Perhaps more significantly, the average price is way up in the biggest county, Madison, growing from $113,155 to $144,848.
“The Metro East real estate industry is going strong,” said Christopher Mitchell, president of the Realtor Association of Southwestern Illinois. “This market is definitely something that should encourage buyers and sellers to get motivated.”
According to the Illinois Association of Realtors, the average days on market and housing inventory have decreased compared to February last year statewide.
“These factors are good indicators that the housing market is quite healthy as we enter into the busy spring season,” Mitchell said.
Year-to-date home sales are also on the upswing in the Metro-East. Monroe County recorded a 48.6 percent increase in year-to-date home sales compared to February 2014.
Realtors in St. Clair County followed suit and recorded a 6.76 percent increase in year-to-date home sales, while Randolph County reported a 7.14 percent increase.
Clinton County’s year-to-date home sales also increased 3.03 percent.