Home Sales in Champaign County Up Nearly Three Percent in 2014
Newly built houses on the market in Champaign. (Photo: Tiffany Jolley)
Home sales in the Champaign County area were up nearly 2.84 percent in 2014 compared to the year before.
That figure from the Champaign County Association of Realtors represents a smaller rate of increase than in the previous two years.
But Association President Jeffrey Barkstall says those numbers still ran counter to predictions that home sales might weaken.
Barkstall thinks 2015 will be an even stronger year for Champaign County home sales.
He predicts home sales will grow 4 to 8 percent.
Barkstall thinks first-time home buyers might lead the way, with help from looser credit restrictions and an improving economy.
“We anticipate more jobs or a stronger job market”, said Barkstall, citing both federal and local numbers. “So that’s going to allow more first-time home-buyers to enter the market.”
In all, the Champaign County Realtors Association reports 2,676 mostly existing homes were sold in the Champaign County area last year.
The median home sale price for a home in the area stood at $137,500 for the year. That’s up 1.85 percent from 2013.