Champaign County Home Sales Up Again In February

Sales Are Up From A Year Ago For 13th Consecutive Month
March 12, 2013

February marked the 13th straight month of increased sales of existing homes in Champaign County. And the head of the local Realtors’ association say the steady improvement puts Champaign County ahead of most parts of Illinois.

One hundred nine homes, both single family and condos, were sold last month in Champaign County. That’s 13 more than in February last year.

Champaign County Association of Realtors President Todd Salen said home prices are continuing to rise, too, with the median sales price now at $132,000  (up 11.39 percent from a year ago) and the average sales price at $145,000, (up 6.35 percent from last February).

Salen said that in part, that reflects fewer homes being sold in foreclosure, when prices would typically be lower.

“More significantly, this is an indication that we’re beginning to finally turn the table from five years of it being a buyers’ market in real estate", to being a sellers’ market.," said Salen. "We’re seeing some real growth in housing prices.”

Salen said those prices remain “very affordable,” and that mortgage rates are still low, making now a good time to sell a house in Champaign County.

Story source: WILL