Search
 

Illinois Home Prices Surge 13.1%

CHICAGO—Lower inventories and relatively short time it takes to sell a home indicate that the housing market is robust entering into the spring season.

By Brian J. Rogal | Updated on March 23, 2015

CHICAGO—Statewide home sales continued at a relatively retrained pace in February, but median prices made a double-digit annual gain, marking 30 consecutive months of year-over-year price increases, according to data from the Illinois Association of REALTORS®.

“Sellers should definitely be motivated by this market,” says Jim Kinney, president of the realtors association and vice president for luxury sales at Baird & Warner in Chicago. “The lower inventories and relatively short time it takes to sell a home are indicators that the housing market is quite robust entering into the busy spring season.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.