Illinois May Home Sales up 19.3 – Good News for Naperville
Naperville Housing
Information just released by Illinois Association of Realtors:
Illinois Market Gets Moving with May Home Sales Up 19.3 Percent from April; Statewide Median Price at $158,000
SPRINGFIELD, Ill. — The month of May marked the fourth consecutive month-to-month increase in home sales for the Illinois housing market and the third monthly increase in the statewide median home sale price, according to the Illinois Association of REALTORS® latest report. Total home sales (which include single-family and condominiums) were up 19.3 percent in May 2009 to 8,945 homes compared to 7,501 homes sold in April 2009. Compared to a year ago, home sales were down 21.0 percent from May 2008 sales of 11,326.
The Illinois median price in May 2009 was $158,000, up 4.5 percent from $151,200 in April 2009; it was down 16.0 percent from $188,000 a year ago in May 2008. The median is a typical market price where half the homes sold for more, half sold for less.
“We are seeing more activity in the housing market with increased listings, more activity at showings, a surge in interest from first-time buyers as well as some improvement in time on market,” said REALTOR® Pat Callan, president of the Illinois Association of REALTORS®. “First-time homebuyers who want to take advantage of the $8,000 tax credit need to be aware that the purchase has to close no later than November 30 given the December 1 cut-off under current guidelines by the federal government. That means being under contract by early fall.”
If you want to see the stats for Naperville and surrounding areas just click Market Statistics or visit MyNapervilleRealEstate.com.
I think we’re on the right track. Hopefully the rise in home sales will continue to rise, and the low home prices will remain low.