Illinois Home Sales Rise, Though Chicago Sales Lose Momentum

House Model on a Pile of MoneyHousing sales in Illinois slightly rose 0.3% in June 2017. This was an increase from 19,001 last year to 19,066 homes. This was amid a lack of supply of homes in the most popular price ranges in the state, according to Illinois Realtors.

Sales in Illinois Quad-Cities performed better than other areas in the state for the month, as transaction rose at least 15%, the association said. These areas consist of Rock Island, Henry, Mercer and Whiteside counties.

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Combined home sales, particularly in the Rock Island, Henry and Mercer counties increased 15.4%, as sellers offloaded 2,826 houses in June from 242 properties in the same month of 2016. Illinois Realtors President Doug Carpenter said that fewer listings on the most popular price brackets make it harder for buyers to close deals.

The number of days that it took sellers to divest their properties in Illinois became shorter as well, with the average in June reaching 49 days compared to 55 days in the past year. On the other hand, the statewide median prices rose 5.9% to reach $216,000.

Other Counties

The industry statistics also showed that Cook County and DuPage County recorded modest price appreciation for homes in June. This could be good news for real estate staging services in Hinsdale, Illinois, such as Gia Haute & Home, since it will be easier to sell a home that has a higher market value.

In Cook County, the median home price rose 3.1% to $263,000, while property values in DuPage increased 3.7% to $285,000. The growth in housing prices in these countries occurred as the pace of home sales in the Chicago seems to have lost their upward momentum.

Conclusion

Illinois Realtors’ data for the housing sector in the state provided a mixed growth trend for price growth and sales. If you have plans to buy a house, do you still plan to proceed and hire a staging service, or wait for a better time?