Local News

Local News

 
text size

Home Sales in Illinois

Updated: Tuesday, May 13 2014, 11:07 AM CDT

ILLINOIS -- The weather has warmed and it appears those looking to buy homes have also warmed to the idea of buying sooner than later.

According to the Capital Area Association of Realtors, home sales are on the rise.

Newschannel at Nine's Garrett Brnger has more on what that means for propsective buyers and sellers.

After a snowy winter, the Capital Area Association of Realtors says home sales and median proces are rising along with the temperatures.

"So all the categories right now show a positive trend."

The Association's incoming President Mike Buscher says the relative shortage of listings makes this a seller's market.

Realtors are also seeing quicker selling times and multiple offers coming in, he said.

And though there have been fewer total home sales so far this year when compared to last, Buscher says the weather made this year difficult.

"You know, below zero and there's snow on the ground. There's just...the number of people out looking and buying...the number dwindles."

"There was a little bit more pent up demand, and the activity has been stronger than it has been in the few years past."

The Spring weather seems to have everyone optimistic, even the owner of this unlisted home who's selling on her own.

"It has pretty good curb appeal, and I had everything done outside that needed to be done and I'm getting the yard taken care of. So I think it looks pretty good."

The Association notes there's a limited selection in lower price ranges. Realtors are quick to point out other opportunities, however.

"The 150 to 200 price range is excellent. The 3,4, $500,000 market is wonderful. People can pick and choose as they feel."

The Association also said tighter restrictions when applying for a mortgage are holding sales back but with mortgage rates at a little more than 4%. They say they're not worried about demand drying up.

"I think you'll have buyers that continually get into the market"

Realtors are also saying that the housing markey in Champaign/Urbana area is in their words, "Terrific."

According to Champaign County Realty, right now, they have 513 sales in progress, just in Champaign County alone. The average price right now in Champaign Country is $136,000 for a home. Also, the market should be pretty solid for the next 6 months.

Home Sales in Illinois


Advertise with us!
 
Advertise with us!

Tonight on WRSP

7:00pm - MasterChef
8:00pm - 24: Live Another Day

Complete Schedule