CHICAGO—The state's housing market ended the summer with moderate gains in both home sales and median prices, according to the latest data from the Illinois Association of REALTORS®. And experts say the data show that in both the fall and coming year the market will sustain this steady rate of growth.
“We're not processing as many distressed properties,” Jim Kinney, president of the state association of realtors and vice president for luxury sales for Baird & Warner in Chicago, tells GlobeSt.com. And the number of mid-priced and luxury homes sold has increased, boosting prices. “Sales have held steady since June and we will probably see that continue.”
Statewide home sales, including single-family homes and condominiums, in August 2015 totaled 15,088 homes sold, up 0.9% from August 2014 when 14,957 homes sold. And the statewide median price in August 2015 rose to $180,900, a 3.4% gain over August 2014's median of $175,000.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
